Arbitrum DAO approves $23 million ‘backfund’ for projects that missed out on initial grants
Arbitrum DAO voted 2:1 to spend $21.1 million. 
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In addition to the 29 projects that received the first round of funding,Now 26 projects will receive grants, the largest being gain network 
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4.5 million tokens ($5 million). Other major grants include: Stargate Finance 
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and synapse 
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will receive 2 million tokens ($2.2 million) each and Wormhole will receive 1.8 million tokens ($2 million).
The proposal approval increases STIP’s total program budget to 71.1 million ARB tokens. Additional funds would be distributed following a three-day waiting period under the proposal.
Some projects funded in the first round, including Camelot and MUX, also joined the one-third of voters who rejected proposals for additional funding. Camelot explained the ‘no’ vote in lengthy comments, arguing for a second proposal instead of a backfunding event. MUX’s opinion was more concise, arguing that “proposals with good protocol fundamentals, appropriate incentive implementation strategies, and reasonable grant sizes should be supported, but not in bundles of proposals with mixed quality.”
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