USD Coin Bridged

Overview

USDC.e (USD Coin Bridged) is a bridged version of the regular USDC stablecoin that exists on various blockchain networks. It was created to enable USDC functionality across different blockchain networks, particularly on Ethereum layer-2 solutions and other EVM-compatible chains.

Purpose and Utility

The primary purpose of USDC.e is to serve as a bridged stablecoin that maintains a 1:1 peg with the US dollar, facilitating cross-chain transactions and providing stable value transfer across different blockchain networks. It enables users to move their USDC across different chains while maintaining the stability and backing of the original USDC.

Business Model

USDC.e operates through smart contracts that lock original USDC tokens on one chain and mint equivalent USDC.e tokens on another chain. The process is transparent and verifiable on-chain. The business model is based on facilitating cross-chain transactions and providing liquidity across different blockchain networks.

Real-World Adoption

USDC.e has gained significant adoption, particularly on networks like Avalanche and other EVM-compatible chains. It is widely used in DeFi protocols and cross-chain bridges for value transfer and trading.

Platform Development

The platform is maintained through the underlying bridge protocols and benefits from the same institutional backing and regular audits as the original USDC. The development activity primarily focuses on maintaining bridge security and ensuring smooth cross-chain operations.