Final Recap of the Solv’s ARB STIP Distribution Plan
In October 2023, Solv participated in Round 1 of the Arbitrum Short-term Incentive Programme (“STIP”). We ultimately achieved quorum with >108mm “For” votes to bring decentralized asset management to Arbitrum. As part of the Proposal to Backfund Successful STIP Proposals in November 2023, we became eligible to receive 150,000 $ARB.
This program aims to encourage users to explore and take advantage of the native yield opportunities available on the high-speed @Arbitrum layer-2 blockchain.
Overview
We have rewarded all investments on Solv-Arbitrum from January 1st to March 29th, 2024.
- Below are the eligible Vaults on Solv Arbitrum for incentives
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ARB has been allocated proportionally among users based on their cumulative daily holdings across vaults on Arbitrum.
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There is a threshold of 0.1 ARB to qualify for the airdrop.
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ARB incentives were airdropped directly to Solv vault investors after the completion of each epoch, with the first distribution scheduled for March 5th.
Distribution
ARB Received: 150,000
ARB Airdopped for Epoch 1(Jan 1st ~ Mar 4th, 2024): 107,850
ARB Airdopped for Epoch 2(Mar 5th ~ Mar 18th, 2024): 23,590
ARB Airdopped for Epoch 1(Mar 19th ~ Mar 29th, 2024): 18,535
ARB left over: 25
Plan for leftover ARB: to be added into the liquidity pool in the future as incentives
Additional Info / Disclosures to Multisig: N/A
STATS
Link to Dashboard showing metrics: https://dune.com/solv-protocol/solv-v3
Empowering the Arbitrum Ecosystem
Arbitrum was the starting point for Solv to build native yield assets. Professional fund managers have captured high-quality yield sources on Arbitrum like GMX and MUX, and built 8 vaults based on Delta-Neutral Strategies on Solv’s decentralized architecture. Over 10,000 global users are now generating flexible, robust and institutional-grade yields on their BTC, ETH and stablecoins through Solv.
As the largest decentralized asset management platform, The TVL of Solv Arbitrum has peaked $12.4 million during the S.T.I.P and will continue launching more assets to provide native yield opportunities based on trading strategies in this thriving DeFi ecosystem. Solv remains committed to delivering value to our user community that has supported our growth from the beginning.
We thank the Arbitrum Foundation for their continued endorsement, our valued users for their investments, and look forward to strengthening the Arbitrum ecosystem through thoughtful initiatives like this rewards program. Solv remains committed to delivering best-in-class products and service.