What is this about?

This discussion revolves around the announcement made by Matt_StableLab regarding the successful proposals that will receive funding from the Arbitrum DAO. The funding was allocated based on the number of "For" votes, with the 50M ARB budget being exceeded by over 78M in successful proposals¹. The proposals that became eligible for funding, provided they pass KYC and sign the Arbitrum Foundation Grant Agreement, include a wide range of projects and protocols¹. The Foundation will contact everyone who qualified with the next steps regarding KYC. Those who receive funding will be required to provide bi-weekly updates and Dune Dashboards for self-reporting and monitoring¹.

How is the community reacting?

The community's reaction to this announcement is not explicitly mentioned in the summaries. However, the fact that the 50M ARB budget was exceeded by over 78M in successful proposals suggests a high level of engagement and interest from the community¹.

Why this is positive?

This is positive as it shows the active participation of the community in the decision-making process. The successful proposals indicate a diverse range of projects and protocols that have the potential to contribute significantly to the ecosystem. The requirement for recipients to provide bi-weekly updates and Dune Dashboards for self-reporting and monitoring ensures transparency and accountability¹.

Why this is negative?

The only potential negative aspect is that the ARB budget was used in its entirety during Round 1, marking the end of the STIP program. Any extension of this program or further grants will need to be supported via a separate AIP¹. This could potentially limit the opportunities for future proposals to receive funding.