Share this article
Arbitrum DAO’s First Grants Programs Take Shape
Two governance proposals are collectively requesting nearly $5 million worth of ARB tokens to launch grants programs.
Jul 28, 2023, 8:25 p.m.
Make us preferred on Google
Arbitrum’s community may soon begin handing out grants as token-holders are hashing out the details of two multi-million dollar programs.
Two governance proposals together request around $5 million in ARB tokens from Arbitrum’s nearly $4 billion treasury to build grants programs that will fund ecosystem development. ARB stakeholders have been voting on one of the grants programs since last week; voting for the second one starts on Monday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The vote on the programs could yield notable grantmaking powers for ARB token holders, who would get to have a say in which programs get funding, and how much.
They’re separate efforts but not exactly dueling, said the pseudonymous DisruptionJoe, founder of Plurality Labs, which is pitching one of the proposals.
“In the event that both proposals succeed, the entities involved are eager to collaborate, thereby establishing a precedent of pluralism from the very beginning,” DisruptionJoe said in a comment.
Beyond these active votes, other entties based on Arbitrum have sought their own multi-million dollar token allocations, including the trading DEX Camelot. That effort failed this week.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Circle faces first major 'threat' for institutional dollars from Tether’s USAT
While Circle's USDC has operated without a "credible domestic competitor," Tether's USAT has the potential to shake up the landscape, analysts said.
What to know:
- Analysts said USAT, the U.S.-focused stablecoin by Tether, could become the first credible domestic competitor to Circle's USDC token.
- USAT is "a threat to USDC" and could gain an edge through institutional partners and global USDT connectivity, Crypto is Macro Now's Noelle Acheson said.
- ClearStreet's Owen Lau called USAT “a manageable risk” for Circle, and noted potential "cannibalization" risk between Tether's two tokens.
Top Stories
