ArbitrumDAO Vote Backs 100 Million Arbitrum (ARB) Incentives for Global Dollar (USDG)

ArbitrumDAO members passed an off-chain vote backing a proposed 100 million Arbitrum (ARB) allocation to incentives focused on Global Dollar (USDG), moving the plan to a final on-chain vote without authorizing the funds yet.

Of the 210.7 million ARB recorded as participating, 199.5 million voted in favor, equal to 94.7%. Another 10.9 million ARB abstained, or 5.2%, while 246,200 voted against, or 0.1%. The participation figure represented 68%.

Entropy Advisors submitted the proposal on Oct. 6. It would make USDG the focus of the DeFi Renaissance Incentive Program (DRIP), add 100 million ARB to its incentive allocation and redirect part of Arbitrum Expansion Program fees into USDG. The proposal uses treasury assets to support USDG growth.

DRIP began with 80 million ARB spread across four seasons. About 65 million ARB remains in that existing budget, and Season 2 is already operating with those funds. If approved, the proposed addition would raise the program's remaining budget to about 165 million ARB.

Global Dollar is a Paxos-issued stablecoin that launched on Arbitrum One on Oct. 6. Arbitrum One is an Ethereum layer-2 network, and ARB is the ArbitrumDAO governance token used for votes on proposals affecting the DAO and its chains.

The proposal's discussion period ran through Oct. 15, followed by off-chain voting from Oct. 15 to Oct. 22. The result advances the plan but leaves the allocation subject to final on-chain approval. TokenPost covered the USDG incentive proposal before the off-chain vote.

ARB traded near $0.17 on Binance spot on Oct. 25, down 2.01% over 24 hours. The on-chain vote is scheduled from Oct. 29 to Nov. 12.