Arbitrum launches $40M DeFi incentive program

Arbitrum has launched the first season of its DeFi ecosystem incentive program, CoinDesk reported. The launch follows the Arbitrum DAO's prior approval of a governance proposal allocating 80 million ARB to the initiative. For the current season, up to 24 million ARB, valued at $40 million, will be distributed. The incentives will target lending protocols including Aave, Morpho, Fluid, and Euler. Users can earn ARB rewards by taking out loans collateralized with assets such as weETH, wstETH, sUSDC, and syrupUSDC.