December Participants
A total of 34 participants enrolled, 29 of whom met the base requirements to get Rewards.
You can see the full list here.
Votings Breakdown
During the month, there were a total of 2 votes, 1 Snapshot Vote (considered as an off-chain election) and 1 Tally Vote (On-chain constitutional quorum)
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Off-chain election:
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On-chain constitutional quorum vote:
As a reminder, the budget for this quarter was set at the time of the vote that approved this program:
Incentive Budget per Quarter
| Proposal type | Incentive Budget | Payout Cap | Minimum voting power |
|---|---|---|---|
| On-chain constitutional quorum | 15,000 USD | 700 USD | 200k ARB |
| On-chain non-constitutional quorum | 7,000 USD | 500 USD | 200k ARB |
| Off-chain decision making (non-constitutional) | 7,000 USD | 500 USD | 200k ARB |
| Off-chain election | 7,000 USD | 500 USD | 200k ARB |
| Off-chain temperature check (non-binding) | 5,000 USD | 300 USD | 200k ARB |
Incentive Budget from November 1st, 2025, to January 31st, 2026
December Results
You can see the sheets with the results here.
Of all the participating delegates, 29 were eligible to receive rewards.
| Delegate | Proposals Voted | Total Rewards ($) |
|---|---|---|
| Blockworks Research | 2 | 1,200.00 |
| Camelot | 2 | 1,200.00 |
| Gauntlet | 2 | 1,200.00 |
| L2BEAT | 2 | 1,200.00 |
| MUX | 2 | 1,200.00 |
| Olimpio | 2 | 1,200.00 |
| Reverie | 2 | 1,200.00 |
| GMX | 2 | 1,179.29 |
| Coinflip | 2 | 1,109.41 |
| Mihal | 2 | 1,066.15 |
| GFXLabs | 2 | 1,038.99 |
| Arana Digital | 2 | 993.30 |
| Areta | 2 | 992.92 |
| MerlynLabs | 2 | 943.94 |
| Griff | 2 | 911.87 |
| Bob-Rossi | 2 | 886.08 |
| MaxLomu | 2 | 867.44 |
| DZack23 | 2 | 718.57 |
| Jojo | 2 | 692.65 |
| Karpatkey | 2 | 666.42 |
| Uniswap Delegation | 2 | 404.77 |
| Layer3 | 2 | 389.28 |
| paulofonseca | 2 | 215.39 |
| TodayInDeFi | 2 | 168.15 |
| 0xDonPepe | 2 | 160.81 |
| Zeptimus | 2 | 69.66 |
| Sov | 2 | 61.40 |
| cp0x | 2 | 51.55 |
| 404 DAO | 2 | 11.98 |
| TOTAL | 22,000.00 |
Rewards in USD: $22,000.00
Metrics
Participation
Participation reached 91.18% across the 34 participating delegates. Of these 34, five had a monthly participation rate below 75%, and as a result, these delegates were not eligible for rewards.
We will reach out to them privately to better understand the reasons behind the missed votes and offer support going forward, with the goal of enabling them to meet the requirements in future periods.
Voting Power
Delegates participating in the program contributed the following average voting power (for the purposes of this analysis, broken down by voting category):
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On-chain constitutional quorum vote: 185,594,223 ARB
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Off-chain election: 132,354,345 ARB
Meanwhile, the program incentivized the following average voting power:
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Off-chain decision-making (non-constitutional): 167,403,381 ARB
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Off-chain temperature check (non-binding): 132,175,696 ARB
The differences between voting power contributed and voting power incentivized are explained by votes that did not receive rewards, as they corresponded to delegates who either did not meet the 75% participation rate threshold or had Voting Power below 200,000 ARB at the time of voting.
Economics
As previously established, a budget equivalent to USD 15,000 per vote was allocated for On-chain constitutional quorum proposals, while USD 7,000 per vote was allocated for Off-chain elections. This results in the following averages:
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For On-chain constitutional quorum votes, USD 0.000089604* was allocated per vote on average (or, viewed differently, 11,160.23 ARB per dollar allocated).
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For Off-chain elections votes, USD 0.000052959* was allocated per vote on average (or, viewed differently, 18,882.24 ARB per dollar allocated).
Given that the former category requires a constitutional quorum, it is both expected and desirable for each vote in that category to be more strongly incentivized.
*Note that this ratio does not match the one used for reward calculations in the shared sheets. This is expected due to the reward cap. The ratio used in the sheets is purely a mathematical construct intended to redistribute the remaining budget among delegates who do not reach the cap, ensuring that 100% of the originally allocated budget is distributed.
Conclusions
While it is true that December brought a smaller number of proposals to analyze, we believe it is important to highlight the significant contribution of Voting Power to the Constitutional vote (185,594,223 ARB) from RAD participants, as 33 out of the 34 registered delegates cast their votes in this case.
It is also true that some of these delegates will not receive rewards, as they did not meet the required Participation Rate (75%). As noted in the November results, we will continue working 1:1 with these delegations to help ensure they become eligible in subsequent months.
As positive takeaways, we would like to highlight the following:
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The increase in participation (91.18% vs. 79.55% in November 2025).
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The ARB per USD spent ratios, which indicate that the incentives are functioning as intended by allocating more funding to votes where reaching quorum is more challenging.
In the coming days, we will work closely with the OpCo to present the budget for the next quarter, which will be iterated based on the insights gathered during the first quarter.