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The famous decentralized autonomous organization Arbitrum has recently collaborated with oSnap. As included in this endeavor, Arbitrum will integrate with oSnap and distribute nearly 45M ARB tokens to protocols in the Long-Term Incentives Pilot Program. The company disclosed this in its latest blog post.
The @arbitrum DAO has integrated oSnap to distribute the Long-Term Incentives Pilot Program.
— UMA 🥚 (@UMAprotocol) April 9, 2024
They will use oSnap to distribute up to 45M $ARB, one of the biggest incentives programs in history.
oSnap will be used alongside other governance tools @hedgeyfinance and @tallyxyz. pic.twitter.com/h2LxZPkxjK
Arbitrum DAO’s Integration with oSnap Fuels an Exclusive Incentives Project
It noted that oSnap, a popular tool provider for DAOs for optimistic governance adoption, will assist it. It will enable Arbitrum to coordinate a huge Web3 incentive program with decentralization. The integration indicates the increasing prominence of oSnap in the ecosystem. It includes up to $65M to the cumulative value secured.
Arbitrum has approved a proposal for the launch of LTIPP while oSnap will conduct payment streams toward effective protocols. The LTIPP operates as an incentive project to allocate nearly 45M ARB tokens for projects under Arbitrum. This will reportedly increase the cumulative value secured of oSnap to almost $875M.
The DAO will utilize oSnap to guarantee the decentralization of the LTIPP. LTIPP targets the provision of support for the Arbitrum ecosystem. The Arbitrum DAO intends to utilize oSnap parallel to Snapshot, Hedgey Finance, and Tally. These 3 solutions additionally work as the most valued tools for the DAO ecosystem.
This will let Arbitrum coordinate the LTIPP with decentralization. The Arbitrum DAO has the responsibility of governing Arbitrum Nova and Arbitrum One. Both of them are well-known L2 solutions focusing on scaling Ethereum. Arbitrum is the top L2 rollup of Ethereum and presently holds more than forty-five percent market share.
oSnap Will Conduct Initial ARB Payments
The growing adoption of oSnap illustrates its pivotal role in bolstering the decentralization efforts of major DAOs. Moreover, it serves as a testament to oSnap’s commitment to positioning itself as a key player in securing significant financial resources in the foreseeable future. Notably, the LTIPP application window remains open, providing an opportunity for interested parties to participate. Following the conclusion of the voting period in the coming weeks, oSnap is poised to initiate the initial ARB payments for selected protocols, further solidifying its position in the market.