Sonic, one of many fastest-growing blockchains for stablecoin exercise, is about to transition from bridged USDC to native USDC and combine Circle’s Cross-Chain Switch Protocol V2 (CCTP V2).
The improve is anticipated to start with a bridging pause on Could 6, with full deployment accomplished roughly every week later, Sonic Labs introduced.
Launched in December 2024, Sonic has shortly grow to be a number one hub for bridged USDC, boasting over $480 million in bridged USDC and $1 billion in whole worth locked. The upcoming shift to native USDC (USDC) goals to additional streamline liquidity and provide builders a extra constant consumer expertise.
The improve would require no motion from builders or customers.
Present USDC.e tokens will robotically convert to native USDC, eliminating the necessity for handbook swaps or contract adjustments.
In the course of the improve, USDC.e will stay totally practical for buying and selling and bridging by means of third-party instruments.
CCTP V2
The transition additionally brings CCTP V2 to Sonic, a protocol that makes use of a burn-and-mint mannequin to allow quicker and safer USDC transfers throughout supported blockchains.
In different phrases, CCTP V2 is Circle’s protocol that permits native USDC to be burned on one blockchain and immediately minted on one other, permitting quick, safe, and capital-efficient cross-chain transfers with out utilizing wrapped property.
It enhances interoperability throughout supported chains and simplifies integration for builders.
Sonic will be a part of Avalanche, Base, Ethereum, and Linea as a part of CCTP V2’s interoperable community.
Circle will take over possession of the bridged USDC contract through the transition, permitting the rollout of native USDC and integration of Circle Mint providers for institutional entry.
This transfer is anticipated to boost sensible contract performance, enhance liquidity, and unlock new use instances throughout Sonic’s rising ecosystem of over 125 purposes.
