Next week, USDC will be launched on Base, a tier-two solution backed by Coinbase. This was stated by the CEO of the co-issuer – Circle – Jeremy Allaire.
The initiative will allow abandoning the “bridged” version of USDbC. The token was backed by a locked equivalent on the Ethereum network, acting as a temporary solution.
The native stablecoin smart contract has already been deployed in Base. On launch day, the team will explain how to convert USDbC into the new token.
Developers will be in close contact with colleagues from ecosystem dapps to facilitate a smooth transition of liquidity providers. The USDbC issuing bridge will continue to operate as usual.
On August 9, Coinbase opened the Base mainnet to the public. Already on the first day TVL network reached $ 153 million, it outperformed StarkNet, which has been operating since 2021, by this indicator.
At the time of writing, the figure is $256 million. The L2 solution is ranked fifth in the ranking.
As a reminder, Base will be one of six blockchains where Circle will launch USDC. Others include Cosmos (via Noble), NEAR, Optimism, Polkadot and Polygon.
Earlier it became known that Circle is using $1 billion to strengthen its position in the stablecoin segment.
Found a mistake in the text? Select it and press CTRL+ENTER
ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!