|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Circle Provides Guide for Migrating Bridged to Native USDC on Sui Mainnet
Oct 09, 2024 at 01:01 pm
Circle has released a comprehensive guide detailing the migration process from bridged USDC to native USDC on the Sui Mainnet, emphasizing best practices and benefits.
paymentstable Stablecoin issuer Circle has released a guide to help developers and users migrate from bridged USDC to native USDC on the Sui Mainnet.
The guide aims to highlight the key differences between the two forms of USDC and provide best practices for a seamless transition.
Circle has released a comprehensive guide detailing the migration process from bridged USDC to native USDC on the Sui Mainnet, outlining best practices and benefits.
According to Circle, bridged USDC is generated when USDC is locked in a smart contract on its origin blockchain, and a synthetic version is minted on another blockchain through a third-party bridge application.
On the Sui Mainnet, bridged USDC is known as USDC.e, which is a version that originates from Ethereum.
In contrast, native USDC is issued by Circle directly on the Sui Mainnet, backed fully by a liquid asset and redeemable 1:1 for US dollars.
Circle's guide provides several best practices for supporting both bridged and native USDC.
Some key suggestions include making native USDC the default for deposits, withdrawals, and swaps, updating top tokens and analytics pages, and highlighting native USDC in user interfaces as a commonly used token.
Native USDC offers several benefits over its bridged counterpart.
It is fully reserved and always redeemable for US dollars, supported by Circle Mint and its APIs, and enables institutional on/off-ramps.
Moreover, native USDC is interoperable across multiple blockchain networks through Circle's Cross-Chain Transfer Protocol (CCTP).
Developers can facilitate the migration from bridged to native USDC by creating swapping mechanisms or liquidity pools within their applications on the Sui Mainnet.
Users can also perform swaps on decentralized exchange protocols such as Aftermath Finance, Cetus, FlowX, Deepbook, and Turbos.
Developers should ensure that the contract addresses match the intended transactions to avoid any confusion between native and bridged USDC.
Developers can access native USDC by using DeFi protocols on Sui Mainnet, applying for a Circle Mint account, or transferring USDC from other blockchains to Sui Mainnet using a CCTP-enabled bridge app.
Protocols like Suilend and Navi Protocol support swapping mechanisms for this purpose.
For further guidelines on USDC branding, visit the Circle pressroom page.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Cutoshi (CUTO) Presale Emerges as a Strong Contender in the Memecoin Sector, Predicted to Outperform Shiba Inu and Dogecoin
- Oct 09, 2024 at 06:20 pm
- With the evolving cryptocurrency market a new player emerges in the memecoin sector: Cutoshi (CUTO). Analysts predict it could outperform Shiba Inu and Dogecoin in the near future.
-
- Rollblock (RBX): The Best Altcoin to Turn $10,000 into $1 million, According to ChatGPT 4.0
- Oct 09, 2024 at 06:20 pm
- We had some fun and asked ChatGPT 4.0 which altcoin has the best potential to turn a $10,000 investment into a whopping $1 million. Surprisingly, it didn’t name popular picks like Solana or Toncoin. Instead, ChatGPT highlighted Rollblock as the next altcoin to explode.
-
- Solana Memecoins Market Heats Up Despite the Platform's Troubles, as Influential Crypto Figures Sound the Alarm
- Oct 09, 2024 at 06:20 pm
- Tokens like Bonk (BONK), Dogwifhat (WIF), and Popcat (POPCAT), among newer entries like Moo Deng (MOODENG) and Smoking Chicken Fish (SCF), have shown renewed market interest.
-
- Pepe ($PEPE) Insiders Loading Up Ahead Of October Pump
- Oct 09, 2024 at 06:20 pm
- The world of meme coins is prone to huge swings as this purely speculative asset class lacks any real utility and reliable revenue. Memes such as Pepe and Bonk will no doubt do well in the coming Q4 rally, but the gains of the crypto casino Rollblock ($RBLK) are set to outperform them all with predicted 100x moves on the cards.