Arbitrum Launches Stablecoin Growth Plan with 2 Million ARB Prize Pool

Arbitrum has announced the launch of a stablecoin growth plan, establishing a prize pool of 2 million ARB, which is now open for applications. The application requirements include a stablecoin balance of at least 1 million USD and a commitment to use USDG as the primary stablecoin on Arbitrum. The first 10 teams with a total locked value of USDG reaching 10 million USD will each receive an additional 200,000 ARB, with the threshold calculated based on a 30-day average. Applying teams must have a live product and audited contracts, and must transfer at least 1 million USD in total locked value into USDG. USDG is issued by Paxos Digital Singapore Pte. Ltd., regulated by the Monetary Authority of Singapore, and is also issued by Paxos Issuance Europe Oy, in compliance with the Capital Markets and Services Act.

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