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$0.5470040 -11.5844
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Arbitrum to launch 500k ARB donation programs this winter

arbitrum-to-launch-500k-arb-donation-programs-this-winter
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Arbitrum to launch 500k ARB donation programs this winter

The Arbitrum blockchain project, together with Gitcoin Winter, is launching three donation programs.

According to the project team, as part of The Arbitrum Citizens Retrofunding Round #1, the community will help us distribute 100,000 ARB to the Arbinauts that have proactively stepped up and impacted the governance and processes of the Arbitrum DAO. To apply for a grant, users must go to the appropriate website.

The first round will launch on Nov. 15. The Arbitrum community will donate and decide how the funding gets allocated.

Another initiative called The Arbitrum Matching Fest will provide $300,000 ARB in matching funds for the people/organizations that choose to run rounds on Arbitrum One via Gitcoin protocol.

As part of the third program, participants in the crypto community will receive 100,000 ARB in prizes. The award is available for the builders who can create future data structures and tools that will propel the grant funding initiatives in the Arbitrum ecosystem and web3 forward.

A day earlier, the decentralized autonomous organization (DAO) Arbitrum approved a proposal to activate the ARB coin staking function. Users can earn income for 12 months, and profitability will range from 7.84% to 78.43% per year, depending on the ARB volume locked. The proposal also states that funds will be allocated from the Arbitrum treasury.