On December 5th, the Arbitrum community voted against the "Empowering Early Contributors: Community Arbitrator Proposal", which suggested distributing 500,000 ARB tokens evenly among 24 members.

On December 5th, according to L2BEAT data, the total value locked (TVL) on the Arbitrum One network has reached a new all-time high of $8.12 billion, with a 7.08% increase in the past 7 days.

Web3 on-chain incentive platform, RabbitHole, announced on X platform that the proposal to provide funding support for successful STIP proposals on Arbitrum has been approved. RabbitHole will receive a grant of 1 million ARB tokens and plans to distribute them to the community. Previously, the Arbitrum community voted on the on-chain proposal to provide funding support for successful STIP proposals. The proposal outlines a one-time funding support plan for all "approved but unfunded proposals" for Arbitrum STIP, which aims to increase the total budget by 21.4 million ARB to 71.4 million ARB and increase the number of participating protocols by 26, with a total of 56 funded projects. The plan hopes to distribute the ARB held by DAO to incentive measures while utilizing the distribution system, consensus, and delegation due diligence created by STIP 1.

Radiant Capital, a multi-chain lending protocol, has updated its plan to distribute 2 million ARB tokens via airdrop. The qualification period will end before February 16, 2024.

LSD protocol unshETH announced on social media that the Arbitrum STIP Backfund proposal has been successfully passed. It will receive 375,000 ARB grants (worth about $400,000) to help develop the unshETH protocol on Arbitrum.

RabbitHole, a Web3 on-chain incentive platform, announced on X platform that the Arbitrum STIP reserve fund proposal has been approved, and will receive one million ARB grants and distribute them to the community. This means that the most loyal users will receive more tasks and higher rewards. It is reported that RabbitHole hopes to build the ArbitrumQuestGateway and distribute one million ARB through incentives to RabbitHole's task users.

According to L2beat data , the total locked-in volume of ArbitrumOne has increased by nearly 5% in the past 7 days, reaching a new historical high of $8.13 billion and ranking first in the current L2 locked-in volume ranking.

The Arbitrum community has approved the distribution of 21.1 million ARB tokens worth $23.4 million to 26 additional projects. The proposal was voted on between Nov. 18 and Dec. 2 and will fund a total of 56 projects to support new builders. The decision was not without controversy, as some members argued that a full second round would have been a fairer way to include additional protocols in the incentives program. Arbitrum is a layer-2 networking designed to scale transactions on the Ethereum blockchain, generating revenue through transaction fees.

The sustainable contract protocol for the Arbitrum ecosystem, Rage Trade, stated in a post on the X platform that the Rage V2 Aggregator has processed $700,000 in transaction volume since its launch 36 hours ago.

According to Lookonchain monitoring, in the past 10 hours, a certain whale deposited 3 million ARB coins (worth 3.11 million US dollars) into Binance. At the peak price, the whale withdrew 6.47 million ARB coins (worth 10.27 million US dollars) from Binance at a price of 1.59 US dollars. Currently, the whale holds 3.52 million ARB coins (worth 3.66 million US dollars) and has lost a total of 3.5 million US dollars on ARB.