The Arbitrum DAO recently approved a $23.5 million 'backfund' for projects that missed out on the initial grant of the Ethereum Layer 2 network's Short-Term Incentive Program (STIP). This backfund was voted for two-to-one, with 26 projects receiving ARB+ token grants. Gains Network received the largest amount at 4.5 ARB+ tokens ($5 million). Other top projects gaining funding include Stargate finance and Synapse, which each received 2 million tokens ($2.2 million) and Wormhole with 1.8 million tokens($2 million). The total STIP project budget was increased to 71.1 ARB tokens after the proposal was approved, waiting 3 days for the funds to be disbursed. Some projects who received initial funding, such as Camelot and MUX, rejected the backfund proposal and an additional draw was suggested by Camelot. MUX mentioned that only proposals with good protocol fundamentals, incentives execution strategies and reasonable grant sizes should be supported.



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