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Place/Date: - January 26th, 2023 at 3:12 pm UTC · 3 min read Source: Snowfall Protocol Photo: Snowfall ProtocolCircle, one of the founders of USDC cryptocurrency, is launching an on-chain utility to allow users to transfer USDC from one blockchain to another.
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In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle’s USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.” The proposal, submitted on January 9, aims
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The move may also boost Yearn’s dwindling user activity. The protocol’s total value locked, a popular indicator to show the worth of assets deployed on a DeFi protocol, has dropped to $442 million from an all-time high of $6.9 billion in December 2021, according to data from DefiLlama. Source
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Circle reassured the USDC holders and the general public that it remained committed to transparency.USDC issuer, Circle, has announced that it will be audited by Deloitte in the future instead of Grant Thornton. According to the firm, its last audit covers 2019,2020, and 2021 and has been filed publicly with
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Despite the fact that customers may be shifting their focus to its competitor, Tether doesn’t see a threat.Following a series of events that took place in 2022, it appears that the Circle-issued USDC stablecoin has suddenly found itself to be a favorite option among crypto users. According to a data
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Stablecoin USD Coin (USDC) has grown in popularity since the collapse of FTX. It now frequently reaches daily transfer volumes four to five times that recorded by major competitor Tether (USDT) according to data from blockchain analytics firm Glassnode. That’s despite the market cap of USDT being $23 billion greater
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