Diverse Projects receiving the grant by Arbitrum DAO

Among the 26 projects now slated to receive grants, Gains Network stands out with the largest allocation of 4.5 million tokens, valued at approximately $5 million. The significant funding underscores the project’s potential impact on the Arbitrum network. Other notable recipients include Stargate Finance and Synapse, each receiving 2 million tokens ($2.2 million), and Wormhole, which is set to receive 1.8 million tokens ($2 million). These grants reflect the diverse range of applications and solutions that the Arbitrum network is keen to support and develop.

The approval of the proposal has effectively increased the STIP’s total budget to 71.1 million ARB tokens. The additional funds are scheduled to be dispersed following a three-day waiting period as stipulated in the proposal. The expansion of the budget is a clear indication of the DAO’s willingness to invest substantially in the growth and diversification of its network, recognizing the long-term benefits of a well-supported developer community.