Arbitrum

The ArbitrumDAO has proposed an experimental incentive system to reward active delegates with 1.525M ARB. Additionally, the proposal to fund the ARDC for 6 months has been supported. The ARDC will provide tools and reports for proposal authors. The governance forum is discussing the establishment of GrantsDAOs and the creation of a procurement committee. The Treasury & Sustainability working group proposes diversifying 10M / 25M ARB into stable and liquid real-world assets through the STEP program.

The Arbitrum Foundation has allocated US$250,000 to support the establishment of GrantsDAOs. The proposal to establish the ArbitrumDAO Procurement Committee aims to create procurement frameworks for the Arbitrum ecosystem. The Treasury & Sustainability working group proposes the Arbitrum Stable Treasury Endowment Program (STEP) to diversify treasury assets into stable real-world assets. Stay updated on ArbitrumDAO Governance by subscribing to the necessary channels.

The Arbitrum One Sequencer experienced an outage caused by a high volume of inscriptions and issues with a consensus client and monitoring methods. A development version of the node software was swiftly deployed and normal functionality was regained. Gas fees rose to compensate for a fee deficit, but stabilized after the Arbitrum Foundation allocated funds to send transactions. Inscription volumes returned to normal and the downtime is not expected to recur. A post-mortem will be provided soon.

NEAR Protocol has been added to the Arbitrum ecosystem, offering an alternative data availability solution for Orbit chains.

The team at Cryptex Finance and Trader Joe is sending wishes for a happy holiday season.

The Arbitrum One Sequencer experienced a stall during a surge in network traffic. The team is actively working to resolve the issue and will provide a post-mortem report soon.

Join Arbitrum for a full day of virtual developer talks on December 7th, featuring the latest insights on Arbitrum Orbit, Stylus, BOLD, and Timeboost. Sign up now!

The gaming ecosystem on Arbitrum is growing, with the addition of BattlePlan and @pixelvault_. This development signifies the early stages of Arbitrum gaming.

Two onchain AIPs have concluded in the Arbitrum community. The first AIP, Backfund Successful STIP Proposals, was passed with 143.15M ARB approved for 26 projects. The second AIP, Empowering Early Contributors (Arbiters), failed to pass with only 52.33M ARB approved out of the requested 500k ARB for 24 early contributors. Reasons for voting against the proposal included lack of information on the contributors and their contributions, absence of justification for the requested amount, and the need for ongoing support incentives.

Arbitrum will be participating in ETH India this week. They will be hosting a hackathon where participants can work on Arbitrum Stylus, deploy dApps, and create libraries/frameworks. There will be $20,000 in prizes available. Arbitrum will also have a booth and workshop during the conference.