Arbitrum Making Moves
An aggressive incentive play is showing early promise, but will the good times last?
Arbitrum’s short-term incentive program (STIP) distributed 50M ARB, worth approximately $58M, across 29 protocols. Early results have been promising: the ARB token is up 22% on the week, its TVL reclaimed $2B, and daily active users are up 37%!
To top it off, the Arbitrum DAO is now considering injecting an additional 21.4M ARB ($25M) into an additional 26 protocols that received approval in initial STIP voting but were unable to be funded, due to that round’s hard 50M ARB cap.
While the ARB token has experienced price appreciation and network activity has increased, the true winners of STIP program are the protocols that received ARB allocations – not the ARB bag HODLers funding the incentives program.
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Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
