Circle will implement its stablecoin, cross-chain transfer protocol and wallet on Layer 1 blockchain’s mainnet when it goes live.
Circle and Monad Foundation have announced that USDC (USDC), the $ 60 billion stablecoin that is available on most block chains in the crypto space, will go live on the monad chain on day 1 of the mainnet.
Monad, an L1 blockchain that aims to perform parallel version to the virtual machine from Ethereum (ETH) with 10,000 transactions per second, is currently in TestNet.
In addition to the Stablecoin, Circle is planning to bring CCTP V2 and Circle portfolios to the ecosystem of the Blockchain Network. This means that Circle will support the network growth of Monad by enabling developers to use the deep liquidity and trusted arrangement of USDC.
Developers can use this to create and use powerful applications for decentralized finances, gaming and payments.
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CCTP V2, an upgrade to Circle’s Cross-Chain Transfers Protocol that went live in March, ensures fast and composite USDC transfers.
The improved CCTP V2 uses fast transfer and hooks functions to bring USDC settlements on Ethereum and between Layer-2 networks up to just a few seconds. This function “faster than finality” will now be available for monad users on MAINNET at the launch.
Circle support for Monad will also include circle wallets, a service that entails flexible wallet integration for every decentralized application.
Earlier this year, Monad launched its public test network and strives to offer developers and the community of users a safe and risk -free environment to test Dapps. Developers can implement apps with which the community can communicate prior to the Mainstet launch.
The project offers compatibility with Ethereum.
Apps in the monad ecosystem are Native Defi Hub Dirol, Decentralized AI Network Fortytwo and Prediction Market Griffy, which also offers a Tinder-Style Telegram Mini-app. Others include apriori, a maximum extremable value infrastructure and liquid insert protocol; And responsible, which offers crypto -based yields.
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