Arbitrum DAO Allocates Additional Budget to Support Grant Applicants

[coingabbarmarket]

Arbitrum boosts grant program to 70M Dollar, backing 56 projects
The Arbitrum DAO has officially authorized the allocation of millions of extra tokens to support all projects endorsed in its latest Short-Term Incentive Program (STIP), bolstering its financial resources by $23.4 million.

During the voting period from Nov. 18 to Dec. 2, the Arbitrum community ratified a proposal aimed at disbursing supplementary funds for projects that had received approval for grants but were unable to secure funding due to the STIP's capped allocation of 50 million ARB tokens. The recent vote outcome ensures the distribution of 21.1 million ARB tokens, valued at $23.4 million, to an additional 26 projects.

This additional capital was endorsed by a vote tallying 216.7 million in favor and 73.1 million against, expanding the STIP's overall budget to 71.4 million ARB tokens. This round of funding will now support a total of 56 projects, fostering a conducive environment for new and diverse emerging builders to thrive.

read more - https://www.coingabbar.com/en/crypto-currency-news/arbitrum-additional-budget-funding-debate-continues