Tally Bi-weekly Update (22.03.2024)

Please note: Tally is different than most of the DeFi protocols that received STIP funding. Unlike others, we operate as an onchain governance platform, directing our STIP resources into DAO treasuries. Our primary aim is to foster the creation of DAOs on Arbitrum, aiming to cultivate long-lasting and stickhy TVL locked in these DAO treasuries.

For the effective allocation of our STIP funds, it’s crucial for the DAOs we collaborate with to initiate their operations. We are currently in partnership with six DAOs, all poised to launch within the timeframe extending up to the end of the STIP period. As each of these DAOs becomes operational, we plan to invest a segment of our STIP allocation into their respective treasuries.

Upon the launch of a DAO and the subsequent investment of STIP funds into its treasury, we anticipate an initial modest impact on TVL. However, our projection is that the TVL will experience substantial growth over the coming years, as a result of the infusion of STIP funds. It’s important to note that while some of this growth will occur during the STIP period, we expect the majority of it to unfold over an extended duration.

Recap of the Previous Two Weeks

Please note that we will not be distributing STIP funds until late March, just before the completion of the STIP period. This will allow more DAOs to launch for our consideration and it will allow us more data (proposals made, number of delegates, number of voters, etc.) with which to determine how to allocate our STIP funds.

Open Dollar and Content Guild) are likely to receive STIP funds. We are in chats with 2 other DAOs aiming to launch onchain governance on Arbitrum before the end of the STIP period. We are awaiting an answer from the STIP Committee (cc @Matt_StableLab) on a launch engagement with GMX.

ARB Received Last Disbursement: 0

ARB Utilized as Incentives in the Last Two Weeks: 0

Contracts incentivized over the last 2 weeks: none

Contract address label Form completed for all addresses: Yes (N/A)

ARB left over: 200,000

Plan for leftover ARB: n/a

Summary of incentives: new high-quality onchain DAOs deployed on Arbitrum

Additional Info / Disclosures to Multisig: none


Average daily TVL: N/A

Average daily transactions: N/A

Average daily volumes: N/A

Number of unique user addresses: N/A

Transaction fees: N/A

Links to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: TBD depending on DAOs that launch (estimated 0-100k)

Contracts that will be incentivized: TBD depending on DAOs that launch

Contract address label Form completed for all addresses: Yes (N/A at the moment; will update upon DAO launches)

Mechanism for distribution incentives: Funds will be manually sent from Tally’s multisig directly to DAOs’ onchain treasuries.

Summary of incentives plan:

  1. DAO Identification and Collaboration (done):
  • Identify potential DAOs for collaboration.
  • Engage with these DAOs to understand their objectives, governance structures, and compatibility with our goals.
  1. Due Diligence and Selection Process (done):
  • Conduct thorough due diligence on each DAO to assess their viability, strategic alignment, and potential impact.
  • Finalize the selection of DAOs based on these assessments.
  1. Pre-Launch Coordination (in progress):
  • Work closely with the selected DAOs in their pre-launch phase.
  • Provide necessary support, guidance, and resources to ensure they are on track for their planned launch.
  1. Launch Monitoring (awaiting launch of DAOs):
  • Monitor the launch process of each DAO.
  • Ensure that each launch aligns with the agreed timelines and objectives.
  1. Fund Allocation and Deployment (awaiting launch of DAOs):
  • Once a DAO successfully launches, initiate the process of STIP fund deployment.
  • Transfer a pre-determined portion of the STIP budget into the DAO’s treasury.

Summary of changes to the original plan: Our initial proposal intended to distribute our 200k STIP in small portions to ~20 DAOs. We have decided to focus our distribution efforts on a smaller number of high-quality DAOs that will provide long-lasting TVL to Arbitrum. The number of DAOs that receive part of Tally’s STIP will likely be lower and the ARB amount each receives will likely be higher.

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Final STIP Update

Tally is excited to share how we distributed our STIP of 200k ARB. Our STIP’s primary goal was to foster the creation of DAOs on Arbitrum, aiming to cultivate long-lasting and sticky TVL locked in these DAO treasuries. We distributed funds directly into 3 DAO treasuries:

  • 25k ARB to Open Dollar
  • 5k ARB to Content Guild
  • 70k ARB to Pixel Vault; Note: Pixel Vault is on Arbitrum Nova, so we must bridge funds to send them and use a native bridge to do so. We sent 1 ARB test transaction to PV, which will take a week. If this transaction works, we will send the remaining 69,999 ARB to PV. That will take another week. This process should be complete by April 15, 2024.

We also sent 100k ARB back to the Arbitrum STIP treasury, as we had planned to distribute it to GMX had the DAO launched on Arbitrum in time for the conclusion of the STIP period.

Finally, we hope to disburse STIP funds to GMX during STIP Double Down, should it pass and Tally be awarded funds to distribute. GMX has publicly announced plans to launch within the month of April.

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