[Balancer] [FINAL] [STIP - Round 1]

Balancer is consistently beating Chronos in volume/TVL efficiency.

I don’t know who made this table but it is factually incorrect

Chronos 24 hour volume yesterday was $1M+: Compare Solidly Forks - eliteness.network/compare-solidly (independent source)

Our Dune dashboard shows that our daily average volume over the last 7 days was $790,725: https://dune.com/0xkhmer/chronos

Chronos pools efficiency based on this is ~20-25%

Looks like cherry picking and malicious manipulation of figures to achieve a goal…

I guess the table was made based on Geckoterminal DEX Rankings - Top Decentralized Exchanges

Focussing only on volume/ tvl ratio and not on other important metrics such as protocol revenue or fee generated which has way more impact is disastrous.

Hello @Tritium,

Now that your application has been marked eligible, please be advised of the remaining steps in the application process to be completed prior to the Review Period Deadline:

Please complete the following steps required for your application to proceed to Snapshot:

To change your proposal to final, please tag an Arbitrum Foundation Forum Moderator (@ stonecoldpat @ cliffton.eth @ eli_defi) by the Review Period deadline to notify them of your proposal’s readiness to proceed from [Draft] to [Final] status.

Once notified, the Arbitrum Foundation Forum Moderator will adjust your title from [Draft] to [Final] status. Once marked as [FInal], your application post will be locked by moderators and you will no longer be able to edit your proposal.

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Firstly, thank you for your proposal and your dedication to the Arbitrum ecosystem.

Introduction and Rationale

Balancer is seeking a 1.6M ARB grant (3.2% of total program availability) to incentivize liquidity across all its pools through an automated system that includes veBAL voting, pool revenue, and pool categories. Balancer has already solidified its role as the second-largest decentralized exchange on Arbitrum, and its resilience during market downturns is noteworthy. We’re encouraged by Balancer’s past performance and its alignment with Arbitrum’s goals. In our eyes, the proposal has the potential to offer significant benefits to our ecosystem.

Minor Concerns

Concern Regarding Grant Size

  • The grant request is on the high side given the current budget constraints
  • Our recommendation for change: Consider lowering the grant request to better align with available funding and other initiatives within the Arbitrum ecosystem.


Castle Capital values the efforts Balancer has put forth and the services it offers to the Arbitrum ecosystem. We are inclined to support the proposal, contingent upon the lowering of the grant size to better fit within the current budget constraints.

Our recommendations can be summarized as follows:

  • Consider lowering the grant request

We hope our feedback helps fine-tune your proposal and that it’s received as constructive input for the benefit of everyone involved in Arbitrum’s growth.


Hello and thank you for your engagement and support.

We could considering dropping our ask a bit, do you have any feedback on what a reasonable number would be?

We are currently looking at 1M ARB internally.


Blockworks Research is inclined to support this proposal on the condition that the requested amount comes down from 1.6M to 1.25M ARB based on, among other things, the anticipated sustainable impact on, and goodwill to, the ecosystem, metrics such as TVL / volume / fees on Arbitrum and overall, a comparative analysis of all submitted STIP proposals, the distribution of incentives across verticals, as well as, to a certain extent, the recommendations made by the Arbitrum Working Group through the four grant categories.

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In response to community feedback we have decided to lower our ask from 1.6m to 1.2m ARB, which represents a 25% reduction in weekly distributions from our original proposal.


This will be our final ask. We will post an updated table in the comments of this post tomorrow. Please mark the subject as final.

Post has been marked FINAL and locked.


We endorse this proposal, which is carefully crafted to strengthen the Arbitrum ecosystem on multiple fronts.

The focus on innovation in the AMM space through Balancer’s flexible architecture could open doors for more creative and functional solutions. The comprehensive set of objectives, including increasing the number of pools and ensuring competitiveness with other DEXs, makes this a robust proposal deserving of support.



Balancer is Arbitrum’s 5th largest protocol by TVL and 3rd largest DEX, proving its value within the ecosystem. We appreciate Balancer’s continued focus towards fostering ecosystem-wide collaboration i.e., ve8020 incentive programs, boosted pools, bribes etc., as well as the value the veBAL economy brings to Arbitrum. The outlined grant objectives align with the goals of the STIP and we believe there is potential long-term benefits in both TVL, trading volume, and users, as a result of increased veBAL migration and participation on Arbitrum.

We look forward to supporting Balancer’s grant application!

Balancer Arbitrum Summary Stats:

  • 5th largest protocol by TVL - $96.51M
  • 2nd largest DEX by TVL - $96.51M
  • 20th largest entity by 30D users - 38.6k
  • 16th largest entity by 30D transactions - 188k

Source: DefiLlama, Nansen


Balancer: @Tritium

From @Seedgov led by the @cattin delegation, we want to convey our support to this proposal. The reasons why we agree are as follows:

  • Liquidity mining is one of the most inefficient ways compared to bribes/incentives, but Balancer is big enough to attract and maintain liquidity.
  • A plus is that they are using 2/3 of ARB Airdrop 1 to incentivize the program.

We want to clarify that this is not the final vote, since as we clarify in this release, the final vote is defined by our community. We also want to invite you to attend our Governance Call that will be held tomorrow in our discord.


First of all, we appreciate the detailed proposal. We don’t believe that the KPI of this proposal is the BAL Emission amount, as mentioned by wavebender above.

Also, in the discussions above, it has been mentioned that Balancer provides stability to volatile pools.

While this may be beneficial for projects with volatile pools, we are not sure if it is a criterion for the success of a DEX. However, it is very valuable that you have listened to the community’s feedback and reduced your grant size. Increasing the Arbitrum TVL in previous months is definitely an achievement.

Considering the RDNT concerns about Balancer’s distribution, we believe that you will make a distribution, and we vote “For” this proposal.


Based on requirements from the Arbitrum Foundation that individuals KYC instead of other entities, we have created a new multisig to manage the funds from this grant:

The new multisig has 2 of the signers from the original 3/6 multisig, as well as 3 KYCd signers who will remain anonymous other than to the Arbitrum foundation through the KYC process for a new 3/5 multisig. All KYC signers are well known by Balancer.

PR to Commission safe:


We kindly request that you change the address that collects payments to the Safe above.

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Notice: Some minor changes to the STIP program proposed above and currently running are being considered by Balancer Governance:

You can read/comment here: [BIP-XXX] Arbitrum LGP and STIP Adjustments - General Proposal - Balancer

Voting should take place on snapshot over the weekend, with the results being realized for the next round of STIP payouts at the end of next week.