The decentralized trading platform WOOFi posted on the X platform that Arbitrum’s proposal to “provide financial support for successful STIP proposals” has been approved. WOOFi will receive 1 million ARB token grants, which will be used for incentive activities and airdrops to platform users. Incentive activities and airdrops will begin soon.
As previously reported, the Arbitrum community has passed the on-chain vote for the proposal “to provide financial support for successful STIP proposals”.
The proposal outlines a one-time financial support plan for all "approved but unfunded proposals" of Arbitrum STIP, proposing to increase the total budget by 21.4 million ARB to 71.4 million ARB, while increasing the total number of participating protocols by 26, for a total of 56 funded projects. The plan hopes to allocate DAO-owned ARB to incentives while leveraging the allocation system, consensus and delegated due diligence that STIP 1 has already created.