ArbitrumDAO announced the first quarter of its $40 million DeFi Renaissance Incentive Program (DRIP), which will distribute up to 24 million ARB tokens to accelerate the growth of decentralized finance on the Arbitrum network. DRIP Season 1 focuses on leveraged revolving 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 select ETH and stablecoin collateral, including weETH, wstETH, sUSDC, and syrupUSDC. (CoinDesk)