USD Coin is a stablecoin developed by the CENTRE consortium and released as a consequence of the collaboration of Circle and Coinbase.
USDC was released on Ethereum as an ERC-20 token and takes the second spot in the biggest stablecoins list with a market cap of over 10B USD.
USDC is fully backed by USD and functions within the U.S. money transfer law. The token issuers — Circle and Coinbase — are registered and licensed as MSBs. They’re regulated by FinCen, an agency that specializes in battling financial crimes in the USA, meaning their ledgers are always available and must be audited regularly by a third party.
Where and how you can get ERC-20 USDC
- The popular exchange Binance (crypto or you can buy USDT for fiat and exchange it for USDC on the spot)
- On the decentralized exchange Uniswap
- On the website of the Circle issuer (KYC required)
USDC to Minter
USDC on Minter is a wrapped USDC of the ERC-20 format that has more advantages thanks to the nature of Minter.
On the Minter blockchain, the USD Coin stablecoin has the ticker USDCE and is fully backed by ERC-20 USDC.
USDCE tokens on Minter
USDCE hot wallet —
USDCE cold wallet —
USDC tokens on Ethereum (supplying USDCE on Minter)
USDC hot wallet —
USDC cold wallet —
To minimize fee expenses, wrapped tokens on Minter are released in packets (they won’t exactly be 1:1 accurate with the backing coins on Ethereum). But only the 100%-backed amount will be allowed to circulate on Minter, the rest will be on the hot and cold wallets, which are controlled with multisigs.
It doesn’t affect security and reliability, since minting and burning wrapped tokens on Ethereum is also managed by multisigs and they can be minted or burned at any moment upon reaching a required quantity of votes. In this case, Minter has an advantage over Ethereum as it doesn’t spend any money at all on fees.
The first packet of USDCE on Minter consists of 10 000 000 000 USDCE.
At the time of writing, the cold wallet has 9 999 000 000 USDCE.
Meanwhile, the hot wallet has 920 581.35 USDCE
That means the amount of USDCE circulating on Minter is:
10 000 000 000 - 9 999 000 000 - 920 581.35 = 79 418.65 USDCE (rounded down to 2 decimal places)
Liquidity pools with USDCE
By clicking on a pair, you can see all the basic liquidity information, token price correlation, daily trade volume, daily fee amount received by liquidity providers and the current APY — yearly profitability.
And on the page of the pair at Chainik, you can also track the price change chart.
USDC cross-chain transfer
You can learn about transferring USDCE and other tokens from Ethereum to Minter and back on our page about cross-chain transfers.
Advantages of USDC on Minter
The advantages of having a wrapped USDC, like other tokens on Minter, lie in the blockchain’s possibilities — first off, the transaction speed (less than 5 seconds) and low fees ($0.01 for a transfer and $0.03 + 0.2% for a conversion). You can learn about other advantages Minter has on a corresponding page in our database.
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