In an exciting development for the blockchain community, a new Pilot Program has been announced that aims to distribute between 25 to 45 million ARB tokens to innovative protocols building on the Arbitrum platform. This initiative is set to span 12 weeks and is designed to foster growth and development within the Arbitrum ecosystem.
The Pilot Program targets protocols that have not previously received ARB allocations through the STIP or Backfund initiatives. However, it extends eligibility to those that have benefited from grants by the Arbitrum Foundation, Questbook, or other related programs. Importantly, participation in this Pilot Program does not preclude protocols from seeking additional support through other DAO or foundation-led programs, including the Long Term Incentives Program.
Initial Application (2 Weeks): Protocols interested in participating have a two-week window to submit their applications using a specified template available on the Arbitrum forum. This initial phase encourages early drafting and refinement of proposals, with no extensions for late submissions.
Feedback and Revision (2 Weeks): Following the application submission, a two-week feedback period allows protocols to refine their proposals with input from Application Advisors. This collaborative phase ensures that all applications align with program objectives and guidelines, with StableLab playing a crucial role in ensuring compliance.
Selection Criteria (1 Week): A council will review all submissions, employing a detailed rubric to ensure a fair and transparent selection process. The council's decisions, along with their rationales, will be publicly shared to maintain transparency and accountability within the community.
Funding Distribution: Selected protocols will receive their allocated ARB tokens in bi-weekly installments via Hedgey streams, continuing until April 26th. Throughout this period, recipients are obligated to provide bi-weekly updates on their progress, ensuring the responsible use of funds and adherence to the program's objectives.
Arbitrum's Pilot Program represents a significant opportunity for protocols to secure funding and support, driving forward innovation and development on the blockchain. With a structured application and selection process, the program aims to identify and empower projects that can contribute meaningfully to the Arbitrum ecosystem, paving the way for a more vibrant and dynamic blockchain landscape.