Reading time saved: 10 minutes
9 replies, 459 views, 12 likes
Risk Labs Foundation has applied for a 1,550,000 ARB grant for their Across Protocol project, a cross-chain bridge for Layer 2s and rollups, aiming to subsidize up to 95% of bridge fees for users transitioning to Arbitrum. The community has reacted positively to the proposal, which is seen as a way to grow the Arbitrum ecosystem by offsetting bridging costs and providing users with ARB to participate in other protocols.
The Risk Labs Foundation has applied for a grant of 1,550,000 ARB for their project, Across Protocol. This project is a cross-chain bridge for Layer 2s and rollups, secured by UMA’s optimistic oracle. The grant is intended to subsidize up to 95% of bridge fees for users heading to Arbitrum over the next three months, with the aim of onboarding users into the Arbitrum ecosystem as seamlessly as possible. The team believes they can provide the most competitive bridging solution for users in terms of both speed and cost. The grant timeline is expected to run from early November to January 31, 20241.
The community has shown a positive reaction to the proposal. Db_DefiEdge praised the proposal for its support of bridging between various Layer 2s and rollups, including Arbitrum, and asked for more details on the 95% rebate of bridge fees for users entering Arbitrum2. CryptoReuMD expressed excitement for the proposal, calling it a consensus bridge and an incentive to liquidity4. There were also questions about the hidden status of certain proposals and the start of STIP-Round 26,8.
The proposal is seen as positive because it aims to offset the cost of bridging for users entering the Arbitrum ecosystem, ensuring that these rewards are not farmable. By providing a 95% rebate of the cost to bridging, the team hopes to maximize the amount of funds available to end users within the Arbitrum ecosystem. This rebate provides users with ARB that they can then use to participate in other protocols, thereby growing the ecosystem1.
There are no negative aspects mentioned in the summaries. However, it's worth noting that the success of the proposal depends on the team's ability to deliver on their promises, and any failure to comply with requests can result in the halting of a program's funding stream1.
Posted 2 months ago
Last reply a month ago
Summary updated 25 days ago
Last updated 04/12 00:18