The Arbitrum community voted to approve the proposal to “extend the incentive distribution deadline for STIP and BackFund projects to March 2024”

On December 10th, the Arbitrum community voted on a proposal to extend the distribution deadline for incentives for the STIP and BackFund projects until March 2024. The aim is to extend the deadline for the protocols under the STIP (Short Term Incentive Plan) and the BackFund program. According to this proposal, protocols within the STIP will have until March 1st, 2024 to distribute ARB tokens to users, while the BackFund program's protocol will continue to provide liquidity support until March 15th, 2024, with ARB token distribution completed by March 29th, 2024.

The main motivation behind this proposal is to ensure that all protocols have enough time to distribute incentive tokens to users, taking into account the time difference in the KYC (Know Your Customer) process and the delay compared to the original plan. In particular, protocols under the BackFund program may only have about 6 weeks left for token distribution before the original plan ends due to the need for KYC verification. Therefore, this extension will provide these protocols with close to 16 weeks of complete time to complete incentive distribution. In addition, this extension also includes adjustments to some protocols under the original STIP plan, ensuring that all STIP protocols have enough time to distribute ARB tokens to users.