DefiEdge Grant ARB Emission Issues


After reviewing STIP performance documents, I encountered some potential problems with the incentive program conducted by STIP Backfund participant DefiEdge.

DefiEdge was awarded 200,000 ARB per their grant application.

DefiEdge made its first claim for 171,432 ARB on March 6th, 2024.

They issued 83,000 ARB to seven Camelot Nitro Pools listed below. These pools are scheduled to emit ARB until May 11, 2024. This allocation is over 42 days past the deadline set by the Timeline Extension for STIP and Backfund Grantees vote.

I also confirmed by viewing the announcements and DefiEdge’s social media, which stated on March 12, 2024, that the protocol plans to emit tokens for “two months”. These incentives included co-incentives from the participating programs.

I attempted to contact the team directly on Telegram but have not received a reply. I then contacted @matt_stablelab and our other Arbitrum contacts and informed them of the problem.

I had a chance to contact a DeFiEdge representative who posted in the Camelot discord promoting their incentive program, but the DeFiEdge representative seemed unaware of the deadline, or had no intention of honoring it.

Below is the supplemental information. If my calculations are correct, DefiEdge has approximately 14-15 days left to emit their incentives and has already misallocated 71.28% of the 83,000 ARB they’ve issued to Camelot Nitro Pools.


DeFiEdge Multisig:

68,432 ARB Remain

Claim (171,432 ARB)

NitroPool 1 aka ETH-LODE

10,000 ARB

NitroPool 2 aka JONES-ETH

10,000 ARB

NitroPool 3 aka UMAMI-ETH

15,000 ARB (10k ARB on top of this from UmamiDAO)

NitroPool 4 aka fUSDC-ARB

8,000 ARB

NitroPool 5 aka USH-ARB

15,000 ARB

NitroPool 6 aka PENDLE-ETH

10,000 ARB

NitroPool 7 aka DPX-ETH

15,000 ARB

Total Allocated: 83,000 ARB

Approximate start time

Tue Mar 12 2024 18:30:00 GMT+0000

Grant Deadline

Sat Mar 30 2024 00:00:00 GMT+0000

Approximate end time

Sat May 11 2024 18:30:00 GMT+0000

Valid Period:

17.23 Days or 28.72% or 23,838 ARB

Invalid Period:

42.77 Days or 71.28% or 59,162 ARB

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DefiEdge continues to initialize incentive programs to emit STIP-funded ARB that violate the grant terms.

After launching a 10,000 ARB, 7-day campaign on Pancakeswap, they’ve extended that program to an 80,000 ARB, 6-week campaign.

This program surpasses the March 29 deadline and emit ARB tokens well into May 2024.