The Arbitrum DAO voted two to one to pay out 21.1 million ARB
+
In addition to the 29 projects funded in the first round26 projects will now receive subsidies, the largest of which Wins network GNS
+
at 4.5 million tokens ($5 million). Other top grants include Stargate Finances STG
+
And Synapse SYN
+
who will each receive 2 million tokens ($2.2 million), and Wormhole, who will each receive 1.8 million tokens ($2 million).
With the approval of the proposal, the total budget of the STIP program has been increased to 71.1 million ARB tokens. The additional funds will be distributed after a three-day waiting period, the said proposal.
Some projects that received funding in the first round, such as Camelot and MUX, joined a third of voters who rejected the proposal for additional funding. Camelot explained their ‘no’ vote in detail remark, which calls for a second round of proposals rather than a backfunding event. MUXs remark was more succinct, stating that “proposals with good protocol foundations, good incentive implementation strategies, and reasonable grant sizes should be supported, but not in a bundle of mixed-quality proposals.”
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