In simpler terms, Sonic Labs has declared that their primary Ethereum network, known as Sonic, is now compatible with a linked variant of the stablecoin USDC by Circle.
As an analyst, I’m excited to share that I’ve successfully integrated the USDC.e stablecoin onto our platform, Sonic. This USDC.e coin has been bridged from native USDC on Ethereum using the Sonic Gateway. Now, it’s live and operational on the EVM L1. We’re thrilled to be utilizing Circle’s standard for bridged USDC, as announced by our platform.
Through the adoption of bridged USDC, Sonic intends to extend the advantages of this stablecoin to its own ecosystem, thereby stimulating developer engagement. This bridge version enables newly established networks to minimize liquidity dispersion, which typically paves the way for future enhancements towards native support.
Why bridged USDC?
Using linked USDC, developers can construct decentralized apps on Sonic platform, ensuring their smart contract addresses persist through network updates as it transitions to native USDC.
With USDC bridged, there’s no need for any coding adjustments even during potential native support. This means smoother operations for users throughout the ecosystem when they exchange tokens on decentralized platforms. Moreover, they’ll enjoy improved benefits from liquidity provision and transactions.
Recently, Circle teamed up with Binance, the globally recognized leader in cryptocurrency trading by volume, to promote the use of USDC more swiftly. Additionally, following the acquisition of MiCA registration, the entity responsible for USDC issuance reached another significant achievement by complying with Canada’s recently established regulations, marking itself as the first issuer to do so.
Users of the Sonic network can obtain USDC tokens that originate from Ethereum through the Sonic Gateway, or acquire them from Solana and Fantom networks using deBridge. Additionally, USDC can be bridged to the Sonic network from various other blockchains and decentralized exchanges (DEXs).
In December 2024, Sonic Labs confirmed that the proposal for integrating Aave within the L1 platform had successfully passed the initial review stage. Simultaneously, Sonic Labs has been forging significant partnerships, such as with Curve Finance, KyberSwap, and Sushi. Furthermore, several exchanges have expressed their intention to facilitate the transition from FTM to S during this period.
Read More
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- XRP Price Eyes $2 Support Level Amidst Market Correction
- PYTH PREDICTION. PYTH cryptocurrency
- OREO Unveils Six New Products for 2025
- Google’s Willow Quantum Chip Sparks Bitcoin Security Debate
- ‘Fast and Furious’ Star Paul Walker Remembered 11 Years After His Death
- Apple Lands Anya Taylor-Joy Led Drama ‘Lucky,’ Based on Bestseller
- Russell T Davies Says He “Kind Of Hopes” The Streaming Bubble Will “Pop”
- ‘Brides’ Finds a Distributor in Neon for Latest New Vampire Horror Movie
- India signals no fixed timeline for crypto rules, calls for global alliance
2025-01-09 21:30