ArbitrumDAO approves 24 million ARB token incentive plan to promote DeFi development

Jinse Finance reported that ArbitrumDAO has announced the first season of its $40 million DeFi Revival Incentive Program (DRIP), which will allocate up to 24 million ARB tokens to accelerate the growth of decentralized finance (DeFi) on the Arbitrum network. DRIP Season 1 focuses on yield-based leveraged looping strategies for Ethereum (ETH) and stablecoins, with incentives directed towards major lending protocols. Users who participate in lending with selected ETH and stablecoin collateral will receive ARB rewards. DRIP is divided into four seasons, with a total budget of 80 million ARB tokens.