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Moses has submitted a grant application for the Synapse Protocol project, requesting 2,000,000 ARB to improve Arbitrum's user experience and support bridging to Arbitrum. The community reaction is mixed, with some supporting the proposal for its potential benefits to the ecosystem, while others criticize it for not fostering more innovation and questioning the grant size.
The discussion revolves around a grant application submitted by Moses for the Synapse Protocol project1. The grant request is for 2,000,000 ARB, which Synapse will match fully and continue to provide liquidity mining rewards on Arbitrum1. The grant aims to achieve two primary objectives: slippage-free bridging and support for Arbitrum partners1. The funds will be used to improve Arbitrum’s user experience, support projects and users bridging to Arbitrum, and encourage new investment into the Arbitrum ecosystem1.
The community's reaction to the proposal is mixed. Some members, such as Konyalu42, Db_DefiEdge, IZUMi_Finance, and ITUblockchain, expressed support for the proposal, acknowledging Synapse's significant role in the Arbitrum ecosystem and the potential benefits of the proposal2,10,25,26. However, others like Meyaf320219 and Flindy criticized the proposal, arguing that subsidizing bridging does not bring more innovation to the ecosystem and that incentives should be used on protocols offering unique apps5,9. Matt_StableLab and Bobbay asked for more clarity on the grant breakdown and the value of loyalty in the grant breakdown4,14.
The proposal is positive as it aims to improve the user experience on Arbitrum by lowering costs and incentivizing users to bring their assets in from other chains1. It also plans to support projects and users bridging to Arbitrum, including partner tokens and new tokens launching on Arbitrum1. The grant is expected to bring $3B net new dollars into the ecosystem and anticipates Arbitrum to dominate Synapse TVL and reach 70%1.
The negative aspect of the proposal is the concern raised by some community members about the size of the grant. They argue that subsidizing bridging does not bring more innovation to the ecosystem and that incentives should be used on protocols offering unique apps5,9. There are also concerns about the grant size, suggesting that it could be lowered to better align with available funding and other initiatives within the Arbitrum ecosystem21.
Posted 2 months ago
Last reply 2 months ago
Summary updated 24 days ago
Last updated 03/12 14:24