Wormhole, a crypto and web3 messaging protocol, has submitted a proposal to encourage users to mint native USDC on the Arbitrum chain. The goal is to
holders the opportunity to earn 8% annualized returns for a three-month timeframe in exchange for minting USDC using Circle’s Cross-Chain Transfer Protocol .
The passive income opportunity could offer a reward of 2% total return over a three-month timeframe. The messaging protocol requires 2.5 millionWormhole will execute the grand that will be shared among its contributors, including xLabs, Jump Crypto, and 19 Guardians. The reward period is 12 weeks, users will be free to move the USDC that they minted, but only the tokens held in the bridged address will accrue rewards.
Users who do not claim their ARB tokens within a 12-week window will have an opportunity to claim them within 365 days. Post this, the unused portion will be returned to the Arbitrum DAO Treasury address. It's important to note that this is a proposal and will need to go through a voting process before it is implemented. No investments are being received at the moment.Bitcoin, altcoins, stablecoins FAQsBitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
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