The Arbitrum DAO has approved the most ambitious grants program in the history of Web3.
On Aug 14, 2023 “AIP-03 Fund the Arbitrum Grants Framework Proposal Milestone 1” has passed a on-chain Tally vote with over 121 million tokens cast by more than 486 wallets delivering more than 98% of votes supporting the proposal. With this approval, Plurality Labs partners with the Arbitrum DAO on an 8-month project to develop a series of Grant programs.
Arbitrum AIP-03 was introduced by a group of community members who recognized the need to bolster the support provided to projects building on the Arbitrum platform. This proposal sought to create a framework for three distinct Grants programs, each catering to different stages of project development and fostering a diverse range of initiatives.
This proposal is discussed as a “grant program” but it encompasses much more than just the distribution of ARB to grantees. This proposal is the first Grant Framework that starts with defining the Vision Mission and Values of the Arbitrum DAO – before funding is distributed. “So many DAOs fail to clearly define who they are and establish a supporting strategy to realize that vision. Without the fundamental alignment on priorities, DAOs struggle to engage members in a healthy governance process and appropriately allocate resources.” said Mary Quandt – a Plurality Labs core team member who is driving this high-level alignment exercises.
With broad alignment to the newly formed DAO Vision, mission, values and priorities, Plurality Labs will then distribute 2.8M ARB tokens (~$3.24M) over the next 6-8 months via a series of grant distribution methods, measuring the effectiveness of each method from different stakeholders perspectives. “Grant distribution programs are the lifeblood of developing robust communities – and to date no one has leveraged multiple pathways and measured the effectiveness of those programs – which means we are likely wasting a tremendous amount of capital” said DisruptionJoe, the Plurality Labs founder and primary author to the proposal.
Immediate next steps for the Plurality Labs team include the announcement of “Arbitrum GovMonth”, a focused 30-day sprint where ARB token holders can earn even more ARB by participating in a series of experiments using DAO-native sense-making and engagement tools. GovMonth will be September 04 to September 29.
As projects receive funding and support through these Grants programs, it is anticipated that the network will experience a surge in development activity. The broader crypto and blockchain communities will likely take note of the increasing opportunities within the Arbitrum ecosystem, potentially attracting more developers, entrepreneurs, and investors.
Arbitrum AIP-03’s successful passage in the Tally vote marks a pivotal moment in the growth trajectory of the Arbitrum ecosystem. By creating a comprehensive framework for Grants programs, the Arbitrum DAO has demonstrated its commitment to nurturing innovation and fostering the development of a diverse range of projects. As the Grants programs gain momentum, the impact on the broader blockchain space could be significant, solidifying Arbitrum’s position as a leading platform for decentralized applications and protocols.
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Company Name: Plurality Labs
Contact Person: Shawn Grubb
Country: United States