ArbitrumDAO approves 24 million ARB token incentive program to boost DeFi growth
ChainCatcher news, according to CoinDesk, ArbitrumDAO has announced the first season of its $40 million DeFi Revival Incentive Program (DRIP), allocating up to 24 million ARB to accelerate the growth of decentralized finance on the Arbitrum network.
DRIP Season 1 focuses on leveraged looping strategies for yield-bearing ETH and stablecoins, with incentives directed towards leading lending protocols including Aave, Morpho, Fluid, Euler, Dolomite, and Silo. Users will earn ARB rewards by borrowing selected ETH and stablecoin collateral, including weETH, wstETH, sUSDC, and syrupUSDC.
DRIP Season 1 focuses on leveraged looping strategies for yield-bearing ETH and stablecoins, and directs incentives to leading lending protocols. Users will earn ARB rewards by borrowing selected ETH and stablecoin collateral. DRIP spans four seasons, with a total budget of 80 million ARB tokens.
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