Arbitrum STIP Exceeds 50M Budget

All of these projects were earlier selected to partake of Arbitrum’s Short-Term Incentive Program (STIP) but were unable to because the initial budget for the initiative was 50 million ARB tokens. In the end, only 29 projects received a portion of the grant in the first round. Of the 26 projects in this second round, Gains Network is the Biggest benefactor as it is set to receive up to 4.5 million tokens.

The likes of Stargate Finance and Synapse will each receive 2 million tokens while Wormhole is entitled to only 1.8 million ARB. The new allocation brings the STIP’s budget to a total of 71.1 million ARB tokens. According to the proposal, the distribution of the funds to the 26 projects will take place after a three-day waiting period.