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Arbitrum (ARB) is about to end voting on a short-term incentive program that could distribute 50 million ARB tokens to active protocols on its network. The proposal, which is currently under community voting, is scheduled to conclude on September 18, 2023.
The incentive program is subject to approval by the Arbitrum DAO, which will vote on the proposal in two rounds. In the first round, which is currently ongoing, the total budget and allocation criteria for the program will be determined. In the second round, which will start after the first round ends on September 18, certain protocols that will receive grants will be selected.
Currently, it looks like the incentive program, which includes 50 million ARB tokens, will be largely approved, with 64% voting in favor.
According to developers, the program is designed to support the growth of the network, experiment with incentive grants, find new models for developer support and generate incentive data.
Voting will end on September 18 at 09:58 UTC (UTC 06:58). If the proposal passes in its current form, up to 50 million tokens will be donated to ARB ecosystem developers for incentives until January 2024.
According to Arbitrum's website, more than 300 projects have been deployed on Arbitrum so far, including major DeFi protocols such as Uniswap, Aave, MakerDAO, Compound, and Curve.
*This is not investment advice.