Arbitrum announced the first round of voting on Short Term Incentive Program (STIP) applications has started, and the DAO can vote for 95 application proposals. An STIP application must reach a 71.51 million $ARB quorum and receive more than 50% of votes in favor to be approved. The voting will end on October 13 at 2 am UTC.
Arbitrum launched STIP earlier to distribute a total of 50 million $ARB to the Dapps within the ecosystem, aiming to drive network and ecosystem growth. The grants span two award cycles, and projects rejected in the first cycle can reapply for the second one. The current voting is the voting period of the first cycle. All the incentives are expected to be distributed by the end of January 31, 2024.
Some famous projects applying for the incentive program include Curve, Frax, PancakeSwap, Trader Joe, and more.
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