Arbitrum has launched a stablecoin growth program that is now open for applications and includes a reward pool of 2 million ARB. According to Foresight News, protocols with at least $1 million in stablecoin balances and a commitment to use USDG as their primary stablecoin on Arbitrum can apply for incentives tied to growth performance.

The first 10 teams to reach a total value locked of $10 million in USDG will each receive an additional 200,000 ARB, based on a 30-day average. Applicants must also have a live product, audited contracts, and move at least $1 million in total value locked into USDG.

USDG is issued by Paxos Digital Singapore Pte. Ltd., a major payment institution regulated by the Monetary Authority of Singapore. It is also issued by Paxos Issuance Europe Oy, which is regulated by the FIN-FSA and complies with the Markets in Crypto-Assets Regulation.