# Arbitrum DRIP

The [Arbitrum DRIP](https://blog.arbitrum.io/introducing-drip-the-defi-renaissance-incentive-program-on-arbitrum/), or DeFi Renaissance Incentive Program, is a campaign incentivizing DeFi activity on the Arbitrum network. Season One of DRIP began September 3, 2025.

Theo is included in this program with incentives for borrowing and lending against thBILL and its Pendle Finance Principal Token (PT).

## Summary

| Campaign             | DRIP Season One                                                                                                           |
| -------------------- | ------------------------------------------------------------------------------------------------------------------------- |
| **Duration**         | 20 weeks                                                                                                                  |
| **Total Rewards**    | Up to 24M ARB                                                                                                             |
| **Eligible Assets**  | thBILL, PT-thBILL                                                                                                         |
| **Eligible Venues**  | [Morpho Finance](https://app.morpho.org/arbitrum/borrow), [Euler Finance](https://app.euler.finance/?network=arbitrumone) |
| **Eligible Actions** | Supply thBILL; lend to USDC vaults                                                                                        |
| **Website**          | <https://arbitrumdrip.com/>                                                                                               |

## How to Participate

No upfront actions are required to participate in Arbitrum DRIP: simply supply thBILL or its Principal Token (PT) on an eligible lending market. Alternatively, lend USDC to a vault providing liquidity to thBILL markets.

Rewards are automatically distributed on average every 8 hours and must be claimed on the DRIP program front-end or on the main Merkl App.