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Native USDC Goes Live on Polygon PoS
Following community feedback, native USDC was launched on Polygon PoS in October 2023. The decision to take a traditional approach was made with the expectation of increasing user exposure and enhancing capital efficiency.
Understanding USDC.e on Polygon PoS
USDC.e, short for “Bridged USDC from Ethereum on Polygon PoS,” is essentially a wrapped version of Ethereum’s native token.
Benefits of Native USDC on Polygon PoS
The introduction of native USDC on Polygon PoS is set to increase liquidity within the Polygon ecosystem and streamline transactions. By integrating Polygon PoS, users will have direct access to USDC, streamlining processes and adding value for users.
While the transition to native USDC has gained momentum over the past few months, the full migration is still underway. DeFi products, NFT spaces, and bridges are playing a vital role in facilitating users’ shift from bridged USDC to the native version, garnering increased attention and approval for the Polygon PoS network.
The advantages of native USDC over its bridged counterpart are significant. Native USDC can be directly redeemed and minted on Polygon PoS, maintaining a 1:1 ratio with US dollars and full reserves. Additionally, they benefit from Circle Account support and its APIs, offering users enhanced efficiency in blockchain technology and eliminating bridge withdrawal delays through the Cross-Chain Transfer Protocol (CCTP).
Future Development: AggLayer Integration
While there is currently no connection between Polygon PoS and the AggLayer, plans are underway to integrate it into a zkEVM validium. The initial phase of the AggLayer includes a unified bridge connecting multiple chains to the AggLayer, creating a cohesive ecosystem for mint-and-burn token transfers across chains, facilitating seamless token operations on various networks.
With native USDC on Polygon PoS, users benefit from increased capabilities and visibility, positioning it as a superior scalability model compared to bridging architectures.
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