Lido proposes to use $ARB tokens as liquidity mining rewards for the wstETH pool on Arbitrum

Lido is considering using its $1.2M ARB airdrop to incentivize activity in the Arbitrum ecosystem. The community proposal suggests rewarding liquidity providers in Wrapped Stacked Ether (wstETH) pools with $ARB tokens.

The Lido DAO community will vote on whether to accept Arbitrum’s airdrop and use the tokens as rewards to encourage the use of wstETH across the Arbitrum ecosystem. The proposal is similar to current rewards, where liquidity pools will receive additional $LDO rewards on top of staking rewards. The proposal is expected to be voted on later this week.

Lido is eligible to claim 772,621 $ARB tokens, worth over $1.2 million at current prices. In addition, the proposal states that 33,400 wstETH have been bridged to Arbitrum and that the total number of wstETH transactions on Arbitrum is more than one million.

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