Dolomite STIP Program Updates

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The Dolomite STIP Program's bi-weekly updates cover the distribution and usage of ARB tokens as incentives, with plans to adjust the oARB vesting mechanism to encourage long-term investment, amidst mixed community reactions and concerns over the program's impact on the Arbitrum ecosystem. Future actions include distributing ARB, extending vesting durations, offering potential discounts for users, and returning unreserved STIP grant funds to the DAO, with Corey set to discuss these changes with the community.

What is this about?

The discussion revolves around the Dolomite STIP Program's bi-weekly updates, which are focused on the distribution and usage of ARB tokens as incentives on the platform. The updates, including those provided by Corey on 11/17/2023, detail the amount of ARB received, used, and the plans for the remaining ARB through the oARB Vesting mechanism. The updates also highlight the platform's performance metrics such as Total Value Locked (TVL), daily transactions, daily volumes, unique user addresses, and transaction fees. Future plans for the distribution of ARB and adjustments to the oARB distribution mechanism are discussed, including an increased max vesting duration and a linear discount for users who vest their ARB. Corey has responded to concerns about the use of STIP grant program funds, emphasizing transparency and community support for their program, and has mentioned that Dolomite is open to suggestions for future grant programs5. They plan to address the community about these changes early the following week.

How is the community reacting?

The community's reaction is mixed. The platform's usage statistics show growth, with increased TVL, daily transactions, and daily volumes, as well as a significant rise in unique user addresses and transaction fees. The community has access to analytics dashboards for more detailed insights. However, Brisket4 criticizes the changes, suggesting they do not address previous issues and create a toxic environment. They accuse the actions of being self-serving and damaging to the Arbitrum ecosystem's reputation. Brisket also thanks FederalInformant for highlighting the issues with the STIP grants, which they believe have been detrimental to the ecosystem. Jerame20 expressed admiration for Corey's patience in addressing community concerns6.

Why this is positive?

  • The platform's usage has grown, with an increase in TVL, daily transactions, and daily volumes.
  • The number of unique user addresses has significantly increased, indicating a broader user base.
  • Transaction fees collected by the platform have risen, suggesting higher platform engagement.
  • The plan to distribute a consistent amount of ARB and incentivize the same contracts shows a stable strategy.
  • Adjustments to the oARB distribution mechanism, such as the increased max vesting duration and linear discount, may encourage longer-term investment and loyalty.
  • Corey's response highlights transparency and community support for the program, and the willingness to consider community suggestions for future grant programs5.

Why this is negative?

  • The previous update indicated that no ARB was used as incentives in the past two weeks, which could have been a missed opportunity for growth.
  • The future plan does not specify any new strategies or improvements, which may be a concern if the current approach does not continue to yield positive results.
  • There is a possibility that the adjustments to the oARB distribution could complicate the incentive structure for users.
  • Brisket4 raises concerns that the changes may not address underlying issues and could harm the ecosystem's reputation.

Next actions

  • The plan for the next two weeks includes distributing 143,138 ARB and continuing to incentivize the same contracts.
  • Users who vested before the update can extend their vesting duration.
  • There may be additional discounts for level 4 or higher Dolomite users.
  • Unreserved funds from the STIP grant, which ends in February, can be returned to the DAO while vesting continues for users up to 40 weeks.
  • Corey plans to address the community about the changes early the following week5.
  • FederalInformant3 outlines changes to the vesting duration for oARB, increasing it from 4 weeks to 40 weeks. Users vesting their oARB reserve ARB in the vester smart contract, and despite the STIP grant ending, unreserved funds can be returned to the DAO. The discount for vesting is linear at 2.5% per week, allowing users to potentially receive ARB for free if they vest for the full 40 weeks. Users who vested before the update can extend their duration, and Dolomite users at level 4 or higher may achieve a 3.75% discount per week.

Posted 17 days ago

Last reply 2 days ago

Summary updated 2 days ago

Last updated 04/12 15:05