Wormhole Foundation Receives Optimism Grant

The Wormhole Foundation received a grant from the Optimism Grants Council for 50,000 OP to facilitate the migration and integration of wstETH into the Optimism ecosystem. This initiative aims to support Optimism in its mission to make its platform a primary home for liquid staked ETH by driving ecosystem growth and innovation through enhanced cross-chain messaging.

The grant targets the migration of wstETH to Optimism over a 12-month period. This program will incentivize users to bridge wstETH via Wormhole Connect, utilizing its cross-chain messaging capabilities and Optimism-native protocols. The bridged wstETH can be deposited into Aave or Exactly Protocol, or held in the bridged address to be eligible for accrued rewards.

How to Participate:

Step 1: Bridge wstETH to Optimism using the Portal Bridge.

https://portalbridge.com/

Step 2: (Optional) Stake wstETH on Exactly Protocol or Aave to start earning rewards.

Step 3: Claim OP rewards.

Program Duration: The program will run for 12 months, and rewards will be distributed weekly. Users will have up to 365 days to claim their rewards after the program ends, after which unclaimed rewards will be returned to Optimism governance.

https://portalbridge.com/rewards-dashboard/

About Wormhole Foundation

The Wormhole Foundation is the steward of Wormhole, the leading interoperability platform powering multichain applications and bridges. Our mission is to empower passionate people in the research and development of blockchain interoperability technologies. Through grants, research, and ecosystem programs, we support teams in building secure, open-source, and decentralized products within the Wormhole ecosystem.

Stay updated with our mission by following us on Twitter or contact us at [email protected].