USD Coin Bridged ZED20
Crypto Overview
USD Coin Bridged ZED20 (USDC.z) is a bridged version of USD Coin (USDC) on the ZetaChain network. It is a stablecoin that aims to maintain a 1:1 peg with the US Dollar through the ZetaChain bridge infrastructure.
Purpose and Utility: USDC.z serves as a bridged stablecoin that enables cross-chain transactions and provides stability in the ZetaChain ecosystem. The primary utility is facilitating transactions and trades within the ZetaChain network while maintaining the stable value proposition of USDC.
Business Model: The token operates as part of ZetaChain's cross-chain infrastructure, allowing users to move USDC across different blockchain networks. The business model is based on providing liquidity and transaction capabilities within the ZetaChain ecosystem.
Real-World Adoption: As a relatively new bridged token, USDC.z is primarily used within the ZetaChain ecosystem for trading and liquidity provision. The adoption is currently limited to the ZetaChain network users.
Token Distribution and Development: USDC.z is a bridged representation of USDC, meaning its supply is directly tied to the amount of USDC locked in the bridge contract. The development activity is tied to the ZetaChain bridge infrastructure maintenance and updates.
Crypto Impact
To assign a comfort level investing in USD Coin Bridged ZED20 from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to USD Coin Bridged ZED20.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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