ArbitrumDAO Launches $40 Million DeFi Renaissance Program with 24M ARB Tokens
ArbitrumDAO has launched the first season of its $40 million DeFi Renaissance Incentive Program (DRIP), allocating up to 24 million ARB tokens to promote decentralized finance on the Arbitrum network.
- Focus on leveraged looping strategies for yield-bearing ETH and stablecoins
- Incentives for leading protocols: Aave, Morpho, Fluid, Euler, Dolomite, and Silo
- Users earn ARB rewards by borrowing against selected collateral types like weETH, wstETH, sUSDC, and syrupUSDC
- DRIP consists of four seasons with a total budget of 80 million ARB tokens
- Each season targets specific DeFi use cases to enhance liquidity and protocol innovation
- Morpho, Euler, and Maple Finance have expanded onto Arbitrum, citing DRIP as a growth catalyst
- DRIP seasons will run for four to five months, with performance reviewed by a DAO committee
Successful strategies may receive ongoing support, while underperforming ones will be adjusted or discontinued.