On November 8th, according to the Snapshot page, the Arbitrum community is currently voting on whether to increase the funding for 26 projects that did not receive enough funding in the first round of funding by 21.4 million ARB (approximately $24 million) all at once. These projects were not supported in the first round of the Short-Term Incentive Program funding last month due to a total funding cap of 50 million ARB. If the proposal is ultimately passed, the funding plan is expected to approve an additional 21.4 million ARB for these 26 projects by January 31, 2024. The proposal will end on November 14th and currently has a support rate of over 90%.

Snapshot page shows that Arbitrum DAO is voting on a draft proposal to "provide funding support for successful STIP proposals", with a current approval rate of 94.71% (but with fewer voters). The voting will end on November 14th. The proposal aims to increase the total budget allocation (50 million ARB) of the original STIP proposal to 71.4 million ARB, and increase the number of participating protocols by 26, totaling 56 sponsored projects. The proposal plans to distribute the ARB held by the DAO to incentive mechanisms, while utilizing the allocation system and consensus already created in STIP 1.

BOn November 7th, decentralized derivative protocol GMX announced that the 12 million ARB short-term incentive plan allocated by Arbitrum will be launched soon, which will be distributed to liquidity and trading incentives within 12 weeks. Among them, up to 2 million ARB can be used as gift incentives for other developers and protocols, based on GMX V2, to promote the development of Arbitrum. Incentive measures will be distributed once a week, and users can receive ARB airdrop rewards after each cycle ends. Liquidity incentives include rewards for GM liquidity providers and incentives for migrating GLP liquidity to the GM fund pool; trading on GMX can also receive ARB transaction fee rebates. Gift incentives are divided into three categories: small gift budgets not exceeding 10,000 US dollars; public gift budgets can be as high as 100,000 US dollars.

On November 7th, Aethir, a decentralized GPU infrastructure, announced that it has launched its testnet. The Aethir testnet is based on the Arbitrum network, and through this testnet, game developers can immediately create cloud ports, and artificial intelligence companies can promote interaction between humans and artificial intelligence through localized computing capabilities.

Multi-chain lending protocol Radiant Capital announced on X platform that it will airdrop 2 million ARB tokens. Radiant's STIP incentive proposal has been approved by Arbitrum DAO and is now live. dLPs that meet the airdrop requirements must lock up on Arbitrum and BNB Chain for 6-12 months between the first snapshot (block 147753665) and the second snapshot (within the next 30-90 days) to be eligible to receive a share of the 2 million ARB tokens. The application period will end on January 31, 2024, and new dLPs such as Magpie and PlutusDAO will be allocated at their discretion.

Scopescan monitoring display, a whale address starting with 0x6950 withdrew 1.7 million ARB (approximately 1.89 million US dollars) from Binance. Currently, the address holds a total of 10.1 million ARB (approximately 11.21 million US dollars).

On November 6th, according to the Snapshot governance page, the Arbitrum community has passed the "Activate ARB Staking" proposal, with the result showing that the community supports funding the staking mechanism with 100 million ARB tokens (1% of the total ARB supply). This is aimed at providing incentives for long-term holders and further stimulating and consolidating the community's long-term development. In the next 12 months, this new mechanism will be monitored by the "Arbitrum Alliance" to collect data and assess its impact on the ecosystem.

According to Scopescan monitoring, an address starting with 0x6950 withdrew 1.7 million ARB (worth $1.89 million) from Binance an hour ago. Prior to this, 0x6950 used its ARB as collateral on Aave to borrow stablecoins and purchase more ARB. Currently, the address holds a total of 10.1 million ARB (approximately $11.21 million).

On November 4th, Dune data shows that the total number of transactions on the Arbitrum chain has exceeded 400 million, with over 11 million created accounts and approximately 3.75 million contracts on the chain. Previously, the total number of transactions on the Arbitrum chain exceeded 200 million in mid-April of this year, and has doubled in the past six months.

According to Lookonchain monitoring, the whale who previously lost 456 ETH ($1.3 million) on ARB, bought 2.51 million ARB 7 hours ago for 1.433 ETH ($2.62 million) at a price of $1.04.