The Arbitrum Foundation has officially commenced the application process for the third phase of its funding initiative, scheduled to run from April 15 until the end of June.

This phase aims to provide support to decentralized application (dApp) projects spanning diverse domains, including gaming, non-fungible tokens (NFTs), social platforms, decentralized autonomous organizations (DAOs), and decentralized finance (DeFi) applications. To ensure a more structured approach, the foundation has introduced grant tracks, facilitating a fairer and transparent allocation of funds based on each project's stage of development, growth potential, and category. The ongoing second phase is slated to conclude on April 3.

The Arbitrum Foundation Grants Program welcomes a wide array of projects contributing to the Arbitrum ecosystem. Over the course of its previous two phases, the program has actively sought applications from various sectors within this ecosystem. Grant amounts typically range from $10,000 to $150,000 in ARB tokens.

Additionally, the Arbitrum Foundation recently unveiled its partnership with the NFT brand Azuki to establish AnimeChain, a web3 network tailored for anime enthusiasts. This network will feature a diverse array of anime-related content, including games, merchandise, and NFTs, sourced from both original and third-party creators.

Since its launch in March 2023, the ARB token has witnessed an impressive nearly 35% growth over the span of a year. The token achieved its all-time high of $2.39 in January. According to DefiLlama, the Layer 2 network has experienced significant growth, with total value locked (TVL) reaching $3.3 billion this month, marking an increase of over $1 billion in 2024.