ArbitrumDAO has approved a total of 80 million ARB tokens for an incentive program to drive DeFi growth

BlockBeats News, September 3rd, ArbitrumDAO announced the first season of its $40 million DeFi Revival Incentive Program (DRIP), allocating up to 24 million ARB to accelerate decentralized finance growth on the Arbitrum network.

The first season of DRIP focuses on a leverage loop strategy for yield-bearing ETH and stablecoins, with incentives flowing to leading lending protocols, including Aave, Morpho, Fluid, Euler, Dolomite, and Silo. Users will receive ARB rewards by borrowing selected ETH and stablecoin collateral (including weETH, wstETH, sUSDC, and syrupUSDC).

The first season of DRIP focuses on a leverage loop strategy for yield-bearing ETH and stablecoins, directing the incentive mechanism towards leading lending protocols. Users will receive ARB rewards by borrowing selected ETH and stablecoin collateral. DRIP spans across four seasons, with a total budget of 80 million ARB tokens.