The Arbitrum community voted to approve the proposal to “extend the incentive distribution deadline for STIP and BackFund projects”. Under this proposal, the deadline for protocols within STIP to distribute ARB tokens to users could be extended to March 1, 2024, while protocols within the BackFund program could continue liquidity support until March 15, 2024 for token distribution. The deadline can be extended to March 29, 2024.
The main motivation for this proposal is to ensure that all protocols have enough time to distribute incentive tokens to users, taking into account the time difference in the KYC process and delays compared to the original plan. In particular, protocols under the BackFund program may have only about 6 weeks left for token distribution before the end of the original program due to the need to pass KYC audits, so this extension will provide these protocols with nearly 16 weeks to complete the incentive distribution. .
In addition, this extension also includes adjustments to some protocols under the original STIP plan, allowing all STIP protocols to have enough time to distribute ARB tokens to users. According to the proposal description, this extension comes at no additional cost and is designed to ensure fairness and effectiveness in incentive distribution while providing Arbitrum DAO with more accurate program success data.