TechFlow reports that decentralized exchange WOOFi announced the successful passage of its voting application for Arbitrum's STIP (Short-Term Incentive Program). WOOFi will receive 1 million ARB tokens, which will be used for incentive campaigns and airdrops to platform users.
Previous report: The Arbitrum DAO vote on the proposal "Funding Successful STIP Proposals" has concluded with a final approval rate of 67.68%. The proposal aims to increase the total funding budget for original STIP proposals from 50 million ARB to 71.4 million ARB, and expand the number of participating protocols by 26, bringing the total number of funded projects to 56. The plan involves distributing ARB held by the DAO through incentive mechanisms, leveraging the distribution system and consensus already established in STIP 1.
