The Arbitrum DAO has confirmed the disbursement of millions in extra tokens to fund all projects approved on its latest Short-Term Incentive Program (STIP), boosting its budget by $23.4 million.
The proposal, voted by the Arbitrum community between Nov. 18 and Dec. 2, sought to distribute additional funds for projects approved for a grant but not funded due to the STIP’s cap of 50 million ARB tokens. The recent vote will result in the distribution of 21.1 million ARB tokens worth $23.4 million to an additional 26 projects.
The supplementary capital was approved by 216.7 million votes in favor to 73.1 million against, bringing STIP’s total budget to 71.4 million ARB tokens. The round will fund 56 projects to “support diverse, emerging builders” and create a welcoming environment for new projects.
Arbitrum is a layer-2 networking designed to scale transactions on the Ethereum blockchain, allowing funds to be transferred more quickly and at a lower cost. The protocol is governed by ARB tokens holders and generates revenue through transaction fees.
DefiLlama data shows that Arbitrum generated over $180,165 in fees and $43,342 in revenue just on…
