Proposal to Backfund Successful STIP Proposals (Savvy DAO) [DRAFT]
The @SEEDLatam delegation has decided to vote FOR this proposal at the Temperature Check.
Rationale
According to the STIP proposal, only 50 million ARB was originally allocated to support various projects within the Arbitrum ecosystem. However, this fund was quickly exhausted due to the large number of proposals received in the forum (a total of 106). Unfortunately, only the initial 20 projects that gained community approval were able to secure the incentives, leaving several other projects, that were also approved by the community, without any financial funding.
Given this situation and motivated by the insights provided in tnorm’s proposal, which highlights the DAO’s capability to unlock additional funds to backfund successful proposals, we believe the action suggested by this proposal is reasonable.
Conclusion
We support this proposal because we acknowledge that this whole process was a bit experimental and it only seems fair to support those projects that had already been approved by the DAO but couldn’t fit within the budget. Going forward though we do want to emphasize that this type of extension shouldn’t be used for future STIPs and we should formulate a solution to prevent this from happening again.