What is this about?

Symbiosis, a cross-chain AMM DEX, has proposed a grant plan for the distribution of 145,000 ARB tokens. The project, which supports 17 networks for cross-chain and on-chain transactions, provides several services including cross-chain swaps, interchain communicating messenger, farming, Symbiosis Explorer, and veSIS. The grant will be used for user incentivization/cashback for swaps from any supported chain into Arbitrum One and Nova, and rewards for USDC/wETH LP providers on Arbitrum One and Nova. The grant's primary goal is to collaborate with the Arbitrum ecosystem and draw liquidity and Total Value Locked (TVL) into both Arbitrum One and Nova¹.

How is the community reacting?

The community has shown support for the proposal. OpenOcean expressed their excitement about their collaboration with Symbiosis, praising their 1-click native assets swaps, powerful API/SDK, user-centric incentive structures, and commitment to the Arbitrum ecosystem². CryptoX also showed support for the proposal, stating that it is likely to drive growth to Arbitrum³.

Why this is positive?

The grant proposal by Symbiosis is expected to accelerate growth and increase volume through Arbitrum by incentivizing users based on their swap volume. The incentive structure is expected to attract capital and new users from other compatible networks like Ethereum, zkSync, Polygon POS, zkEVM, Mantle, Optimism, Tron, etc¹. The grant will be allocated towards creating innovative on-chain campaigns and encouraging authentic and engaged users within the ecosystem¹.

Why this is negative?

The summary does not provide any negative aspects of the discussion.