ArbitrumDAO approved a 24 million ARB token incentive plan to drive 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.

The first season of DRIP focuses on leveraged looping strategies for yield-generating ETH and stablecoins, with incentives flowing to 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).

The first season of DRIP focuses on leveraged looping strategies for yield-generating ETH and stablecoins, directing incentives towards 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.