Arbitrum Community Proposes Long-Term Incentive Program for Protocols

2024/01/18 10:00

The Arbitrum community has set in motion a proposal for a long-term incentive pilot program, with the intention of allocating 25 million to 45 million ARB tokens to protocols constructed on the Arbitrum network.

The specific allotment will be determined by the DAO through snapshot voting, subject to approval by counting votes.

The proposed plan aims to distribute ARB to protocols within a 12-week timeframe, with any remaining funds slated to be returned to the DAO.

Different From The STIP

In contrast to the Short-Term Incentive Program (STIP), the pilot program establishes a five-member committee elected by the DAO. This committee will be responsible for evaluating applications and selecting protocols that will undergo snapshot voting to receive ARB.

The initiative also introduces Application Advisors, tasked with providing comprehensive feedback and guidance to applicants, offering insights on how to enhance their proposals.

Protocols will have a two-week window to apply using the pilot program application template, followed by a two-week feedback period, a one-week screening period, and finally, a one-week voting period.

Arbitrum's Growing Presence

DeFiLlama's on-chain data reveals that decentralised exchanges (DEX) trading volume on the Arbitrum network has surpassed that of other blockchains, including Binance Smart Chain, Solana, and Polygon, in the past week.

Notably, on January 5, the DEX volume on Arbitrum briefly exceeded that of Ethereum's mainnet, marking a significant milestone.

L2Fees data indicates that Arbitrum stands out as one of the most cost-effective networks for transactions, boasting an average fee of $0.26.

In contrast, the average transaction fee on the Ethereum network exceeds $5. This cost disparity could explain the substantial surge in trading volume on Arbitrum's DEXes.

$ARB Airdrop Schedule, Details

As of time of writing, there have been no airdrops announced for Arbitrum.

The initial airdrop took place in March 2023, with the claim period concluding in September 2023.

Back then, q points system was employed to determine the number of tokens airdrop recipients could claim, focusing primarily on Arbitrum One.

A small subset of criteria applied to activity on Arbitrum Nova, with points earned on Nova either contributing to a user's total score or providing an additional point for those already scoring 4 points or more on Arbitrum One.

Points earned before the launch of Arbitrum Nitro on Arbitrum One's mainnet hold twice the value of those earned afterward.

Arbitrum Nitro was launched at block #22207817 on August 31, 2022.

Airdrop

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Arbitrum Community Proposes Long-Term Incentive Program for Protocols

Different From The STIP

Arbitrum's Growing Presence

$ARB Airdrop Schedule, Details

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