Jessie A Ellis
Aug 05, 2024 16:39
Circle publicizes the discontinuation of USDC assist on the Circulate blockchain as a result of an upcoming community improve, efficient September 3, 2024.
Circle has introduced that it’ll discontinue assist for USDC on the Circulate (Cadence) blockchain efficient September 3, 2024, as a result of an upcoming community improve. In accordance with Circle, the minting of USDC on Circulate will proceed till August 27, 2024, at midday ET.
Impression on USDC Holders
Circle has urged Circle Mint prospects, retail USDC holders, and non-Circle prospects who maintain USDC on Circulate to switch their tokens to different blockchains earlier than the September 3 deadline. On this date, Circle will freeze all remaining USDC on Circulate and take a snapshot of all balances. Handbook redemptions based mostly on this snapshot will start on September 4, 2024.
Actions Required
Circle Mint Prospects: Circle will assist the switch of USDC from Circulate to different blockchains till the September 3 deadline. Put up-deadline, customers might want to interact in a handbook redemption course of by means of Circle.
Retail USDC Holders & Non-Circle Prospects: Since Circle primarily serves enterprise and institutional prospects, retail holders and non-Circle prospects are suggested to go to Circulate’s web site for swap choices.
Dapper Pockets Customers: Many USDC holders on Circulate use Dapper. These customers ought to go to Dapper’s newsroom for extra particulars.
Put up-Deadline Procedures
Particulars for the redemption course of might be obtainable on Circle’s Assist Middle beginning September 4, 2024. Circle advises all certified Circle Mint prospects, USDC holders, and non-Circle prospects to consult with its official weblog and Assist Middle to keep away from potential scams.
Future Plans
Regardless of the discontinuation, Circle emphasizes its dedication to supporting the Circulate ecosystem and its customers. The corporate goals to develop USDC’s attain, providing the broadest developer alternative and a safe person expertise.
For extra particulars, go to the official announcement on Circle’s web site.
Picture supply: Shutterstock
