TechFlow reports, according to The Block, that the Arbitrum DAO has approved a one-time "bridge funding" initiative of 21.1 million ARB ($23.54 million) aimed at supporting 26 projects that missed out on the first round of grants. The proposal passed with two-thirds majority in favor. Projects set to receive funding include Gains Network ($5 million), Stargate Finance ($2.2 million), Synapse ($2.2 million), and Wormhole ($2 million).
With the approval of this proposal, the total budget for the STIP (Short-Term Incentive Program) has increased to 71.1 million ARB. Under the terms of the proposal, the additional funds will be distributed after a three-day waiting period.
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