Multichain Bridged USDC ($USDC) on Kava is a stablecoin pegged to USD, enabling cross-chain transfers and DeFi on Kava’s EVM co-chain. More
| Fully Diluted Valuation | $125,283 |
|---|---|
| 24H Trading Volume | $14 |
| 24H Low / High | $0.02 / $ 1.00 |
| Circulating Supply | 5.27M |
| Total Supply | 5.27M |
| Max Supply | ∞ |
| Categories | Bridged USDC 3 more |
|---|---|
| Founder | Anonymous |
| Website | medium.com |
| Chains | Kava Ecosystem |
| Explorer | Kava 1 more |
| Contracts |
0xfa9....8a40f
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| Name | Pair | OG Score |
|---|
Multichain Bridged USDC ($USDC) on Kava is a USD-pegged stablecoin integrated into the Kava Network, a Layer-1 blockchain that combines Cosmos’ scalability with Ethereum’s developer ecosystem through its EVM co-chain architecture. Launched to facilitate cross-chain interoperability, this bridged version of USDC allows users to transfer USD-backed assets between Kava and other blockchains like Ethereum, supported by bridging solutions such as Celer cBridge. The token operates on Kava’s EVM co-chain, leveraging its fast, low-cost transactions to enhance DeFi applications, payments, and liquidity provision.
The Kava Network, powered by the Tendermint Core consensus engine, focuses on interoperability, enabling seamless asset flows between Ethereum and Cosmos ecosystems. Multichain Bridged USDC serves as a key stablecoin for Kava’s DeFi protocols, including peer-to-peer lending and collateralized debt systems, where users can lock assets to mint USDX, Kava’s native stablecoin. $USDC is used for transactions, collateral, and liquidity pools, with integrations like Sonic’s Cross-Chain Transfer Protocol (CCTP) enhancing its utility for cross-chain USDC transfers. The token’s design ensures stability through its 1:1 USD peg, backed by reserves managed by Circle, though bridged versions rely on Multichain’s bridging infrastructure.
The project benefits from Kava’s robust ecosystem, with partnerships like Arkham for on-chain analytics and Circle for CCTP integration. No major security issues specific to Kava’s bridged USDC have been reported, but the broader Multichain protocol faced a significant exploit in July 2023, impacting bridged assets on other chains. This raised concerns about bridge security, though Kava’s implementation has remained stable. Challenges include maintaining liquidity, ensuring bridge reliability, and navigating regulatory scrutiny under frameworks like MiCA. The vision is to make $USDC a cornerstone of Kava’s DeFi ecosystem, driving cross-chain adoption and financial inclusion.
Multichain Bridged USDC on Kava is unique for its integration into Kava’s EVM co-chain, enabling low-cost, high-speed DeFi and cross-chain transfers. Supported by Celer cBridge and Circle’s CCTP, it bridges Ethereum and Cosmos ecosystems, offering stablecoin utility in lending, liquidity pools, and payments with Kava’s scalable infrastructure.
The founders are Anonymous, as no specific individuals are named for the bridged USDC implementation. The Kava Network, led by its core team, and Circle, the issuer of native USDC, oversee the broader infrastructure, with a focus on decentralized development.
Specific backers for the bridged USDC are not disclosed. The Kava Network has raised $185 million from investors like Ripple, Coinbase Ventures, and Huobi Capital, supporting its ecosystem, including $USDC integration. Community-driven liquidity and partnerships with Circle and Celer bolster the project.
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