# Vela Exchange Bi-Weekly STIP Backfund Updates (Mar 29th, 2024) **URL:** \ **Category:** Biweekly Updates (STIP)\ **Created:** [March 29, 2024, 10:07pm UTC](https://forum.arbitrum.foundation/t/vela-exchange-bi-weekly-stip-backfund-updates-mar-29th-2024/22874 "2024-03-29T22:07:07Z")\ **Posts on this page:** 1\ **Page:** 1
**Author:** ![Pioneer](https://yyz1.discourse-cdn.com/flex029/user_avatar/forum.arbitrum.foundation/pioneer/32/3981_2.png) [@Pioneer](https://forum.arbitrum.foundation/u/Pioneer)\ **Post date:** [March 29, 2024, 10:07pm UTC](https://forum.arbitrum.foundation/t/vela-exchange-bi-weekly-stip-backfund-updates-mar-29th-2024/22874/1 "2024-03-29T22:07:07Z")
# Vela Exchange Bi-Weekly STIP Backfund Updates (Mar 29th, 2024) \*\*ARB Received Last Disbursement:\*\*142,852 ARB ARB Utilized as Incentives in the Last Two Weeks: 160,000 ARB Contracts incentivized over the last 2 weeks: - 160k $ARB to [Grand Prix Trading Competition](https://arbiscan.io/address/0x4ecffd9694c7bc7acb45bd44354492bd7d12085d#tokentxns) Contract address label [Form](https://docs.google.com/forms/d/e/1FAIpQLSd2AYnjAaQjVOLtvemZpsWoN5sTJEJ8dLqdRDExTBQv_SUeug/viewform)completed for all addresses: Yes ARB left over: 5,000 ARB, which is being returned to the Arbitrum Treasury Summary of incentives: Vela Exchange has allocated a total of 995,000 ARB of 1,000,000 ARB per our [original STIP outline](https://forum.arbitrum.foundation/t/vela-exchange-final-stip-round-1/17280): - 150k for Multi-Chain / Fiat Onboarding - 500k for Social Features / Trading Leagues - 350k for VLP Vault Rewards Starting on January 5th, 2024, users had the opportunity to earn additional ARB rewards by minting Vela Exchange’s LP token (VLP). This starts the 3-month long STIP incentives program and leads into our Grand Prix trading competition, in which users may compete for up to 100,000 in ARB prizes in Round 1. Additional Info / Disclosures to Multisig: N/A ## STATS Average daily TVL: $10.5M Average daily transactions: 1,356 Trades Average daily volumes: $29.9M Number of unique user addresses: 9,407 UAW Transaction fees: $416 daily avg, $5,835 total Link to Dashboard showing metrics: [Vela Exchange Dune Dashboard](https://dune.com/whale_hunter/vela-exchange)