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Furucombo, a DeFi aggregator, has requested a 59,500 $ARB grant to incentivize trading on Arbitrum, aiming to foster growth and innovation within the ecosystem and improve Arbitrum's metrics by generating positive sum volume on-chain. The community has largely supported the proposal, with concerns about the use of funds for marketing being addressed and clarified by the team.
Furucombo, a DeFi aggregator, has applied for a grant of 59,500 $ARB to incentivize users to perform trading actions on Arbitrum. The team, led by Hsuan-Ting (CEO), Blake Ho (COO), and Josh Blazar (BD & Community), plans to use the grant to reward users based on their trading volume. The rewards range from 30 $ARB for a traded position of over $15,000 to 1180 $ARB for a traded position of over $500,000 [Blazar, 1].
The grant proposal aims to foster growth and innovation within the Arbitrum ecosystem, benefiting integrated partners such as Radiant, Stargate, Compound, Paraswap, Uniswap, and Aave. The grant would also improve the metrics of the Arbitrum chain by generating positive sum volume on-chain, leading to more trading actions and higher Total Value Locked (TVL) in other protocols around the ecosystem [Blazar, 1].
The community has shown a positive reaction to the proposal. Peter expressed admiration for Furucombo's guide video [Peter, 3], while RogerRadiant and Acidhoe both expressed support for Furucombo's grant request, highlighting the utility it has added to the Arbitrum ecosystem [RogerRadiant, 7][Acidhoe, 8]. IZUMi_Finance, Michigan_Blockchain, and ITUblockchain also expressed support for the proposal, citing the sustainable benefits to the Arbitrum ecosystem and the importance of promoting the program to the community [IZUMi_Finance, 14][Michigan_Blockchain, 15][ITUblockchain, 17].
The grant proposal is positive as it aims to incentivize users to perform trading actions on Arbitrum, thereby fostering growth and innovation within the ecosystem. The proposal also plans to improve the metrics of the Arbitrum chain by generating positive sum volume on-chain, leading to more trading actions and higher Total Value Locked (TVL) in other protocols around the ecosystem [Blazar, 1]. The community's positive reaction to the proposal further underscores its potential benefits.
While the overall reaction to the proposal has been positive, some concerns were raised. Meyaf320219 questioned the use of Arbitrum funds for marketing [Meyaf320219, 4]. However, Blazar clarified that none of the grant funds will be used for marketing, but will instead go back to the users of Furucombo on Arbitrum [Blazar, 5]. This clarification addressed the concern and ensured that the grant funds would be used for the benefit of the community.
Posted 2 months ago
Last reply 2 months ago
Summary updated a month ago
Last updated 09/12 13:53