Fiat24 Secures Place in Final Round of LTIPP Arbitrum Grant
We are pleased to have made it through to the final voting round in the LTIPP Arbitrum DAO Grant, poised to receive 490K ARB. Read on to learn more!
What is the LTIPP?
The Arbitrum DAO has spent the last few months experimenting with incentive programs to attract new users and liquidity to Arbitrum. There is a consensus the DAO will use what they learn from these short-term programs to establish a long-term framework.
While STIP V1 brought tons of attention to Arbitrum and has resulted in upticks 27 in protocol metrics, they have learned there were many flaws with the structure of STIP Round 1. This Pilot Program looks to implement new mechanisms to address the issues seen in STIP V1. The DAO will use this Pilot Program as a test run for a long-term framework before committing to a year-long program.
The council will comprise of 5 DAO members. These members are unbiased and knowledgeable builders or delegates who will collaborate to allocate the 35 Million ARB to protocols. The council does not need to spend the entire 35M should they feel there are not enough quality applications. Any unused funds will be returned to the DAO to be used in the Long Term Framework.
Fiat24’s Submission and Proposal
A healthy ecosystem requires not only a large number of traditional DeFi projects (DEX, derivatives, lending, staking, GameFi, etc.) but also projects that use blockchain technology to solve real-world problems (RWA). With the development of blockchain technology, especially L2 technology, we are pleased to see that this technology is gradually able to support truly large-scale commercial applications.
Fiat24 is a financial insitution recognized by the Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank (SNB) that can use Arbitrum as a database. This signifies that Arbitrum is capable in terms of its performance, cost, security, and reliability to run highly compliant, institution-grade applications. Many times, the colleagues at Offchain Labs have showcased us as a successful case when pitching to financial institutions (such as the Monetary Authority of Singapore, Grab, CBDCs, etc.).
With our requested 490K ARB grant, our goal is to onboard the next thousands of users to Fiat24 and bring them into the Arbitrum ecosystem.
Read our full application here.
Vote for us on Snapshot
If you LOVE what we do and our goals, we would appreciate your vote! All you have to have is ARB and you can head over to the link below and cast your vote.
Vote here
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