Discover and read the best of Twitter Threads about #CCTP
Most recents (4)
1/ Circle is launching USDC natively on @arbitrum on June 8th!
Keep scrolling or read the blog to learn more about this launch and how to migrate liquidity from “bridged USDC” to native USDC. medium.com/@arbitrumfound…
Keep scrolling or read the blog to learn more about this launch and how to migrate liquidity from “bridged USDC” to native USDC. medium.com/@arbitrumfound…
2/ USDC issued by Circle will be native to Arbitrum and will be considered the official version of USDC for the Arbitrum ecosystem. Over time, native USDC liquidity will grow and replace the currently circulating “bridged USDC” liquidity that comes from Ethereum.
3/ Benefits of Native USDC
✅Fully reserved and always redeemable 1:1 for US dollars
✅Enables institutional on/off-ramps via Circle and other partners
✅Upcoming support by #CCTP to eliminate bridge withdrawal delays
✅Fully reserved and always redeemable 1:1 for US dollars
✅Enables institutional on/off-ramps via Circle and other partners
✅Upcoming support by #CCTP to eliminate bridge withdrawal delays
1/ Hey Arbinauts!💙🧡
@circle is launching USDC natively on @arbitrum on June 8th!
To learn more about this launch and how to migrate liquidity from “bridged USDC” to native USDC, please check out our blogpost 👉medium.com/@arbitrumfound…
🧵👇
@circle is launching USDC natively on @arbitrum on June 8th!
To learn more about this launch and how to migrate liquidity from “bridged USDC” to native USDC, please check out our blogpost 👉medium.com/@arbitrumfound…
🧵👇
2/ USDC issued by Circle will be native to Arbitrum and will be considered the official version of USDC for the Arbitrum ecosystem. Over time, native USDC liquidity will grow and replace the currently circulating “bridged USDC” liquidity that comes from Ethereum.
3/ Benefits of Native USDC:
✅Fully reserved and always redeemable 1:1 for US dollars
✅Enables institutional on/off-ramps via Circle and other partners
✅Upcoming support by #CCTP to eliminate bridge withdrawal delays
✅Fully reserved and always redeemable 1:1 for US dollars
✅Enables institutional on/off-ramps via Circle and other partners
✅Upcoming support by #CCTP to eliminate bridge withdrawal delays
1/ Today marks a new milestone! Cross-Chain Transfer Protocol (#CCTP) is now on mainnet for @ethereum and @avax. circle.com/en/cross-chain…
2/ #CCTP removes the need to bridge $USDC via traditional lock-and-mint approaches, improves liquidity across the blockchain ecosystem, and enables developers to provide their users a seamless and secure experience moving USDC natively across chains. circle.com/en/pressroom/c…
3/ We are thrilled to have such a strong community of partners already integrating #CCTP into their products:
1/Dev Docs for Cross-Chain Transfer Protocol are officially here 🔥
#CCTP eliminates the need for conventional "lock-and-mint" bridges that fragment liquidity & allows devs to provide users a more capital efficient way to transfer $USDC
So how does it work? 👇
#CCTP eliminates the need for conventional "lock-and-mint" bridges that fragment liquidity & allows devs to provide users a more capital efficient way to transfer $USDC
So how does it work? 👇
2/ Burn $USDC on the source chain:
User initiates transfer of #USDC through an app from one chain to another, and specifies the recipient wallet address on the destination chain. The app facilitates a burn of USDC on the source chain.
User initiates transfer of #USDC through an app from one chain to another, and specifies the recipient wallet address on the destination chain. The app facilitates a burn of USDC on the source chain.
3/ Fetch attestation from Circle:
Circle observes and attests to the burn event on the source chain. The app requests a signed attestation from Circle, which provides authorization to mint the specified amount of #USDC on the destination chain.
Circle observes and attests to the burn event on the source chain. The app requests a signed attestation from Circle, which provides authorization to mint the specified amount of #USDC on the destination chain.
