Wormhole Foundation announced that it has accepted a grant of 1.8 million ARB from Arbitrum DAO, with the aim of promoting the migration of USDC, which has a native issuance of 100 million US dollars, to the Arbitrum network. This plan will distribute ARB rewards to users who use Circle's cross-chain transfer protocol (CCTP) to bridge USDC and use the protocol to bridge to Aave, Compound, and Beefy, or keep it in the bridging address to accumulate rewards.

The user participation methods include: bridging USDC to Arbitrum using Portal Bridge, providing USDC on Compound, Aave, or Beefy and continuing to receive ARB rewards (optional), and claiming ARB rewards. Rewards will be accumulated every seven days for up to three months, and rewards can be claimed within one year. Unclaimed rewards will be returned to the Arbitrum DAO.