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ArbitrumDAO's Short Term Incentive Program: implications and results
the Tally newsletter, issue 117
welcome back to the Tally newsletter, your weekly source for DAO governance insights. i'm coolhorsegirl and i’m so happy to be here. 🟣
if you're invested in the future of crypto, the outcomes of the Arbitrum DAO’s STIP aren't just interesting—they're essential. we’re breaking down its implications and results, including Tally’s awarded STIP (yes, we have ARB up for deployment over the next few months!).
we’ve also got a resubmission from Gitcoin’s MMM group after last week’s mistake, a standard update to Dope Wars’s membership, and some interesting growth initiative out of Nouns. let’s get into it 👇
🤿 deep dive: ArbitrumDAO's Short Term Incentive Program: implications and results
Arbitrum DAO’s Short Term Incentive Program (STIP) is all the buzz, and we have got to talk about it.
first of all, what is the STIP? let’s break it down. it’s a community-driven initiative with a mission to sprinkle a generous 50 million ARB from the DAO treasury across active protocols on Arbitrum to add a bit of fuel to their fire. the official goals: to supercharge the ecosystem's growth, play around with grant distribution models, gather some golden data for future schemes, and brainstorm ways to jazz up activity on the network. and here's the kicker: this program is on a tight schedule, aiming to wrap up by january 31, 2024.
the STIP is a testament to the future of decentralized governance and the potential of the Arbitrum ecosystem. it's not just about funding; it's about recognizing and nurturing innovation, ensuring that the most promising protocols get the support they need. when the community comes together to decide where resources should go, it's a powerful statement about the direction and values of the entire ecosystem.
let’s talk numbers for a sec. currently, there are 97 proposals battling it out for votes. 24 projects have already hit the sweet spot, securing over 50% of "yes" votes. they're on track to bag a cool 42 million ARB, which is 84.3% of STIP's total stash. as for the rest of the contenders, they've got their work cut out, vying for the remaining ARB before voting ends tomorrow. you can get the full rundown in this sheet that updates in real-time.
before I sign off, here's a tidbit for those with an eagle eye on opportunities: a chunk of these grant requests is earmarked for DAO development. yep, Tally has earned a STIP! you can read the details here, but basically, we’ll be deploying 200k to onchain DAOs building on Arbitrum. a robust onchain DAO ecosystem is like the heartbeat of a successful L2, and we’re excited to chat with any protocols looking to build their onchain DAO on Arbitrum! get in touch if that’s you.
⌛️ onchain proposals
summary: a re-posted budget request for MMM's S19 due to a transaction error that lost almost $500k. this one seeks $240,000 for september and october expenses, with unused funds to be calculated into the S20 budget request.
voting ends: october 13th
🚊 Dope Wars
summary: as is every 6 months, DopeLabs membership (including salaries) is up for voting. this proposal passed on Snapshot, and would release 10m $PAPER to the DopeLabs multisig for payments over the next 6 months.
voting ends: october 13th
Summary: following two successful proposals, Nouns Stories seeks $1,795,000 to produce over 50 animated Nouns Shorts with Stoopid Buddy Stoodios. they’d conclude with an animation festival premiere!
Voting ends: october 13th
summary: this proposal addresses a storage issue in the Nouns Descriptor contract. a new descriptor reduces auction settlement gas by $40,000, while the artwork in the updated descriptor remains unchanged.
voting ends: october 13th
summary: GLITCH proposes a two-week art residency in france for blockchain artists. they aim to create NFT collections and establish a prop house for funding. the top artworks will be presented as a droposal for Nouns!
voting ends: october 14th
📝 what we’re reading & listening to
📄 the community of the DAO from Nature Biotechnology
DAOs are growing as alternative research funding models, but are also strong scientific communities. desci is growing to the point we can’t ignore it.
🎥 the consumer crypto stack by nnnnicholas
the Consumer Crypto Stack lets devs make self-custody crypto apps that regular people can enjoy. in this video, he runs through the 100x UX improvement this entails. with consumer crypto all the buzz, this is a must-watch.
🐦 create onchain, no crypto required by Zora
this is so cool! before this, creators had to pay gas to create onchain. Zora’s new feature allows you to create for free; the first minter pays the gas cost for deploying the smart contract while minting the first edition. talk about onboarding the next billion users ;)
💫 DAO talk: we’re all multichain bros || DT weekly ep. 58
🤭 meme of the week
chains on chains! in the last 2 weeks, support has gone live on Tally for Kroma, Linea, zkSync, and Polygon zkEVM. more are on the way!
~ coolhorsegirl 🐴
p.s.- edinburgh isn’t freezing yet! we’ve probably got another week of sunshine before i bunker down for the winter.