Proposal summary

This proposal withdraws 100,000 USDC from the reserves of the Compound III USDC market on Linea and bridges it back to the Compound Timelock on Ethereum Mainnet using Circle's native Cross-Chain Transfer Protocol (CCTP).

Proposal actions

The first action sends a message through the Linea Message Service to the Linea Bridge Receiver, which queues the following calls on the Linea network:

1. Call withdrawReserves(address,uint256) on the Linea cUSDCv3 to withdraw 100,000 USDC to the Linea Timelock.
2. Approve the CCTP TokenMessenger to spend 100,000 USDC from the Linea Timelock.
3. Call depositForBurn on the CCTP TokenMessenger to burn the USDC on Linea and mint it to the Mainnet Timelock (CCTP standard transfer, no fee).

Once the Linea Timelock delay has passed and the queued transactions are executed, the USDC is minted to the Mainnet Timelock after the CCTP attestation is relayed on Ethereum Mainnet.