USDC is a USD-pegged stablecoin on Astar, bridged via Celer from Ethereum for fast, low-cost DeFi transactions. More
| Fully Diluted Valuation | $2.75M |
|---|---|
| 24H Trading Volume | $359 |
| 24H Low / High | $1.00 / $ 1.00 |
| Circulating Supply | 2.75M |
| Total Supply | 2.75M |
| Max Supply | ∞ |
| Categories | Bridged USDC 3 more |
|---|---|
| Founder | Mo Dong 3 more |
| Website | medium.com |
| Socials | |
| Chains | Astar Ecosystem |
| Explorer | Blockscout |
| Contracts |
0x6a2....31d98
|
| Name | Pair | OG Score |
|---|
Celer Bridged USDC ($USDC) is a decentralized stablecoin on the Astar blockchain, a Polkadot parachain and multi-chain dApp hub supporting Ethereum Virtual Machine (EVM) and WebAssembly smart contracts. Pegged 1:1 to the U.S. dollar, $USDC is bridged from Ethereum’s native USDC using Celer’s cBridge, a cross-chain interoperability protocol known for secure, low-cost asset transfers.
This bridged stablecoin enables users to leverage USDC’s stability within Astar’s ecosystem, which offers fast transactions and reduced gas fees compared to Ethereum’s mainnet. $USDC is widely used in Astar’s decentralized finance (DeFi) protocols, such as ArthSwap, where it supports trading, liquidity provision, and lending alongside assets like ASTR (Astar’s native token).
The bridging process locks USDC on Ethereum and mints an equivalent amount on Astar, with the reverse process redeeming the original asset, ensuring full collateralization backed by Circle’s reserves. Celer’s infrastructure, integrated since Astar’s partnership announcement in January 2022, supports additional tokens like USDT and DAI, enhancing Astar’s interoperability with chains like BNB Chain and Conflux.
Security is prioritized through audited smart contracts, though users should verify contract addresses (e.g., 0x6a2d262D56735DbA19Dd70682B39F6bE9a931D98) to avoid phishing risks. $USDC’s utility extends to Astar’s dApp ecosystem, including staking and governance applications, but it’s less versatile than native USDT for WebAssembly projects, as noted in Astar’s documentation. The token fosters seamless financial activity, from payments to yield farming, aligning with Astar’s mission to drive Web3 adoption across gaming, DeFi, and enterprise use cases.
$USDC uniquely brings USD stability to Astar via Celer’s cBridge, enabling low-cost DeFi on a Polkadot parachain with EVM and WebAssembly support, distinct from Ethereum’s high-fee environment, though limited for WebAssembly dApps.
The founders are anonymous, with $USDC issued by Circle and bridged by Celer Network, led by Mo Dong, Xiaozhou Li, Junda Liu, and Qingkai Liang, integrated into Astar by its team under Sota Watanabe.
Backers are not explicitly disclosed for the bridging process, but Circle is supported by Goldman Sachs and Fidelity, Celer by venture firms like DHVC, and Astar by Binance Labs and Polkadot’s ecosystem, suggesting collaborative support.
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