Arbitrum Foundation Unveils Phase 3 Funding with Enhanced Grant Tracks

The Arbitrum Foundation has opened the third phase of its funding program, ranging from April 15 to June, seeking to support dApp projects focusing on games, NFTs, social platforms, DAOs, and defi applications.

Arbitrum Foundation Unveils Third Funding Phase with Grant Track Enhancements

London, United Kingdom - March 29, 2024 - The Arbitrum Foundation, a non-profit organization supporting the development of the Arbitrum Layer 2 scaling solution, has officially launched the third phase of its grant funding program. Applications for this phase are open from April 15 to the end of June 2024.

The third phase marks a significant evolution in the Foundation's funding strategy, introducing a more structured approach through the implementation of grant tracks. This revised approach aims to ensure equitable and transparent allocation of funding based on the stage, growth potential, and type of each project.

"We believe that the introduction of grant tracks will enhance the fairness and transparency of our funding process," stated a spokesperson for the Arbitrum Foundation. "This approach allows us to tailor our support to the specific needs of each project, maximizing its impact within the Arbitrum ecosystem."

Grant Track Details

Projects applying for funding in Phase 3 will be categorized into one of four distinct grant tracks:

• Early Stage: Supports projects in the initial stages of development, with a focus on innovation and proof-of-concept demonstrations.
• Growth Stage: Targets projects that have demonstrated traction and are poised for further expansion. Grants in this track are designed to accelerate growth and adoption.
• Ecosystem Expansion: Provides funding to projects that contribute to the overall growth and development of the Arbitrum ecosystem. This includes tools, infrastructure, and developer resources.
• DeFi Applications: Specifically supports projects building decentralized finance (DeFi) applications on Arbitrum, promoting innovation and financial inclusion.

Phase 2 Conclusion and Key Updates

Phase 2 of the funding program, which concludes on April 3, 2024, has been highly successful in attracting a diverse range of projects to the Arbitrum ecosystem. Phase 3 builds upon this foundation, continuing to support dApp development in areas such as gaming, NFTs, social platforms, DAOs, and DeFi applications.

Collaboration with Azuki and AnimeChain

In a recent announcement, the Arbitrum Foundation revealed its partnership with Azuki, a leading NFT brand, to launch AnimeChain, a web3 network dedicated to anime fans. AnimeChain will feature a suite of anime-related content, including games, merchandise, and NFTs, sourced from both original and third-party creators.

ARB Token Performance and Ecosystem Growth

Since its launch in March 2023, the native ARB token has experienced a surge in value, gaining nearly 35% over the past year. The token reached its all-time high of $2.39 in January 2024.

The Arbitrum Layer 2 network has also demonstrated remarkable growth. As of this month, its total value locked (TVL) has reached $3.3 billion, marking an increase of over $1 billion since the beginning of the year.

About the Arbitrum Foundation

The Arbitrum Foundation is a non-profit organization dedicated to the advancement of the Arbitrum ecosystem. Its mission is to support the development and adoption of Arbitrum as a leading Layer 2 scaling solution for Ethereum. The Foundation provides grants, technical support, and educational resources to foster innovation and expand the ecosystem.

To learn more about the Arbitrum Foundation and its funding program, please visit the official website at arbitrum.io.