Arbitrum STIP Dashboard, Major Project Updates & More

The Castle Chronicle: Volume 37

AuthorAuthorAuthor

unex, 0x_Vlad & CJ CJ
October 05, 2023

In recent days, a dedicated team in Castle has been diligently evaluating, responding to, and aggregating all the Arbitrum STIP proposals.

We view this incentive program as a crucial event for Arbitrum, one that requires careful consideration. Our goal is to make sure tokens are distributed in the most efficient and equitable manner possible, ensuring maximum benefits for the entire Arbitrum ecosystem.

More information on this board in this week’s edition!

Let’s dig in 👇👇👇

 👀 What’s to Come in Volume 37

🔑 Key News: Bitboy and Su Zhu JAILED, $BTC Recognition in China, Huobi Hacked, dYdX Incentives?! & more from CJ

🔵 The Arbitrum STIP Codex

🔥 Hot Narratives Solidly Farms & More from unexployed

📉 HTF Price Action Scenarios from Vlad

⚔️ A Call to Arms

Think you have what it takes to enter the Castle and contribute to funding and advising projects across the space?

🔑 Key News

Major Headlines

  • BitBoy and Suzhu arrested

  • Bitcoin was officially recognized as a unique digital currency by Shanghai People's Court, China

  • Binance Sells Russian Unit to Day-Old CommEX, Exits Country

  • Pudgy Penguins debuting its toys in Walmart

  • Kraken plans to offer users the ability to trade stocks and ETFs

  • Coinbase received approval to enable retail perpetual futures trading and was granted full license in Singapore

  • SEC delays spot Bitcoin ETF decision for BlackRock, Invesco and Bitwise

  • PayPal applies for NFT marketplace patent for on- or off-chain asset trading

  • Vaneck to donate 10% of $EFUT ETF profits to ProtocolGuild

  • Grayscale Investments and NYSE Arca jointly applied for SEC approval to convert its Ethereum Trust into a spot Ethereum ETF

Exploits/updates that Happened this Week

  • HTX Global(formerly known as Huobi) hacked for 5k ETH

Useful Weekly DeFi Updates

Interesting Projects

Courtesy of CJ - check out his telegram channel for daily news, projects updates and new releases

🔵 The Arbitrum STIP Codex

Castle is a huge supporter of Arbitrum. That is not a secret.

The recent approval of the Arbitrum Short-Term Incentive Program (ARB STIP) has piqued our interest. We have emphasized in previous Chronicles that this presents a significant opportunity for Arbitrum to make strides in an ever-growing competitive market, attracting more capital, volume, and users.

Arbitrum net inflow at $60mln in the past 7 days.

Currently, we are actively engaged in the program's whole proposal and voting phases. Virtually all projects on Arbitrum, ranging from major players like GMX and Camelot to lesser-known gaming projects within the Treasure Universe and the more niche DeFi projects, have submitted their proposals on the Arbitrum governance forum.

A squad of Castle members has been gathering and summarizing these proposals, including details on the proposed allocation of the incentives and intricacies of the protocol/platform.

Dashboard includes category-specific details such as perp fees in September.

The goal is to contribute to effective distribution by thorough evaluation of the proposals. This would benefit the entire ecosystem. In our evaluation method, we adhere to a set of guiding principles. We take the following points into consideration:

  • Is the protocol native to Arbitrum?

  • To what extent is the proposed grant able to create a positive feedback loop for the ecosystem?

  • What is the team’s track record in terms of integrity and innovation?

  • How conducive has the protocol been to collaboration rather than competition?

Additionally, we give extra credit to protocols with innovative grant distribution mechanisms and those that have demonstrated effectiveness and success thus far. We also included notes on the proposal and whether it is a fair request based on said principles.

The WIP version of the dashboard is visible to subscribers

Keep in mind that the database does reflect the viewpoints of individual analysts to a certain extent.

During the rapid compilation of 50 responses on the Arbitrum governance forum, we were simultaneously developing and refining our evaluation framework. We tried our best to incorporate valuable principles and evaluate each proposal using the same method and standards.

Consequently, there may be instances of inaccuracies or less insightful takes within the data. We wholeheartedly welcome feedback and commentary from fellow delegates, research teams, and other Arbitrum enthusiasts.

This collaborative approach will help us enhance our analytical processes collectively.

We are proud of the work we put in and the discussion we stirred on the governance forum. The STIP marks an important period for Arbitrum and we are committed to embrace an aggressive iteration approach.

We encourage everyone to duplicate the Notion, explore it from various angles to suit your needs, and add other datapoints.

Feel free to DM us with any questions, remarks, or improvements.

A full thread detailing the intricacies of our dashboard will be released in the next couple of hours.

🔥 Hot Narratives

Solidly Yielding Solid Returns

Solidly V3 is yielding a pretty high yield. And there are interesting things going on over there…

L2 Licenses by Steven Goldfeder

Steven Goldfeder put out a great extensive tweet covering the intricacies of L2 licenses and how the current leaders have structured their business models:

Pintswap Litepaper Dropped

We mentioned Pintswap a few times in a couple of our Chronicle’s weeks ago. Their NFTs have been tradable on Blur since early August. On the 2nd of October, they published their whitepaper:

Brahma Finance Creating New Products

Brahma Finance originates as a niche vault platform on Polygon, but has come a long way and is now focusing on more service-related projects with their latest Brahma Console.

The console is a wallet tool meant for DAOs and other on-chain organizations. The tool allows for subaccounts and roles for DAO members, streamlined transaction management, and compatibility with Safe multisigs.

Currently, they have a proposal live on DeBank to integrate Console in Rabby.

Another great public good to put in your toolbox!

Courtesy of unexployed

Use our referral system to spread the word about the Chronicle!

📈 HTF Price Action Scenarios

Gm frens!

Some momentum has shown up on the LTFs which is nice to see. But by no means is that enough for me to pull the trigger on longs. If this price action proves itself and we enter a trending market on the HTFs, I will start looking for longs. Can’t wait!

  • Daily demand tapped

  • Re-accumulation playing out

  • Waiting for bullishness to prove itself

For all we know this could be a bearish rally for purposes of re-distribution before more downside. There are simply no confirmed directional clues just yet, so I’ll be waiting on the sidelines.

Trade responsibly and I’ll see y’all next week!

Courtesy of Vlad - trend-based trader and MentFX student

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The central hub for anything crypto:

If you align with our values and principles, feel free to delegate to us in Arbitrum governance here! We hope that this dashboard can serve all Arbitrum users and be an all-around, informative overview of the ARB STIP.

Thanks for reading, please give us a follow on Twitter at @Castle__Cap and visit our website to learn more about our services.

Virtually yours,

The Castle

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