Lido considers using ARB received from airdrop to increase activity on Arbitrum

The Lido DAO community will vote to accept the Abitrum airdrop and use the claimed ARB as emission rewards to incentivize the use of wrapped stake ETH (wstETH) throughout the Arbitrum ecosystem.

Arbitrum airdropped its ARB governance token in mid-March to reward early adopters of the layer 2 scaling system, including several Decentralized Autonomous Organizations (DAOs), including Lido, to reward the development and well-being of Arbitrum.

Lido’s governing community will now vote on “strategic and operational topics related to the claim and effective use of potential ARB tokens,” according to a statement. propose Lido’s head of business development and DeFi partnerships, Justin David Reyes, submitted on April 12.

Reyes proposed rewarding users with ARB for providing liquidity to the wstETH pool on Arbitrum. According to lead marketing manager Kasper Rasmussen, the incentive program works “in the same way that liquidity pools currently receive additional LDO rewards in addition to staking rewards.

Rasmussen said the proposal could be put to a vote later this week.


According to Coindesk

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