Hello,
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.
Information
DeFiEdge Multisig:
0x3644233730dD168E1db3373Cd27491edd5d8984f
68,432 ARB Remain
Claim (171,432 ARB)
NitroPool 1 aka ETH-LODE
https://arbiscan.io/address/0x459679bba13727704e2955b7f3bedf16d8695572
https://app.camelot.exchange/nitro/0x459679bba13727704e2955b7f3bedf16d8695572
10,000 ARB
NitroPool 2 aka JONES-ETH
https://arbiscan.io/address/0x9e9bb508e1f0e55d186d085e1ae666cfdfa75387
https://app.camelot.exchange/nitro/0x9e9bb508e1f0e55d186d085e1ae666cfdfa75387
10,000 ARB
NitroPool 3 aka UMAMI-ETH
https://arbiscan.io/address/0x3d1d15b6b066d8f4274f436f1ed097b567e7d761
https://app.camelot.exchange/nitro/0x3d1d15b6b066d8f4274f436f1ed097b567e7d761
15,000 ARB (10k ARB on top of this from UmamiDAO)
NitroPool 4 aka fUSDC-ARB
https://arbiscan.io/address/0x073e2804510668828181da9814842a8f8e1391f0
https://app.camelot.exchange/nitro/0x073e2804510668828181da9814842a8f8e1391f0
8,000 ARB
NitroPool 5 aka USH-ARB
https://arbiscan.io/address/0x9952b9d0093769f4dc12947eedc61a01bf9edbd9
https://app.camelot.exchange/nitro/0x9952b9d0093769f4dc12947eedc61a01bf9edbd9
15,000 ARB
NitroPool 6 aka PENDLE-ETH
https://arbiscan.io/address/0xec0aff94ba9b9af8b9a28a68237b2be4a0ac133f
https://app.camelot.exchange/nitro/0xec0aff94ba9b9af8b9a28a68237b2be4a0ac133f
10,000 ARB
NitroPool 7 aka DPX-ETH
https://arbiscan.io/address/0x633ca6c3d6e5dca5a642b11930431a401c010354
https://app.camelot.exchange/nitro/0x633ca6c3d6e5dca5a642b11930431a401c010354
15,000 ARB
Total Allocated: 83,000 ARB
Approximate start time
1710268200
Tue Mar 12 2024 18:30:00 GMT+0000
Grant Deadline
1711756800
Sat Mar 30 2024 00:00:00 GMT+0000
Approximate end time
1715452200
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