Migration of Native USDC on Polygon PoS is Now in Its First Phase

As a consequence of the community’s feedback, native USDC went live on Polygon PoS in October 2023. It was hypothesized that adopting a conventional approach would result in increased user exposure and efficient capital utilization.

USDC.e, an abbreviation for “Bridged USDC from Ethereum on Polygon PoS,” is a wrapped version of the native token of Ethereum.

Contrarily, the native USDC on Polygon PoS will improve liquidity in the Polygon ecosystem and make transactions easier. Through the implementation of Polygon PoS, users will be granted the ability to establish direct connections with USDC, which will optimize the workflow and increase the value for users.

In the preceding two months, the adoption of native USDC has increased across the ecosystem. The process of complete transition is not yet complete.

Currently, DeFi products, NFT spaces, and bridges are facilitating the reinforcement of users’ gradual transition from the bridged iteration of USDC to its traditional counterpart. The Polygon PoS network gains more users’ attention and approval after a full shifting scenario is implemented.

The advantages of a native USDC model over a bridged model are significant. For example, they can be directly recovered and mintable on Polygon PoS. Native USDC are perpetually redeemable at a 1:1 ratio for US dollars and are entirely reserved. Furthermore, they benefit from the support of Circle Account and its APIs. Users can achieve new efficiency levels in blockchain technology and do away with bridge withdrawal delays by implementing the Cross-Chain Transfer Protocol (CCTP).

There is currently no connection between Polygon PoS and the AggLayer, but plans are in motion to scale it into a zkEVM validium.

The initial portion of the AggLayer consists of a unified bridge with numerous chains that are linked to the AggLayer, thereby providing it with a unified appearance. TThis opens the door to the prospect of mint-and-burn token transfers between chains, facilitating normal token operations on other networks.

Users have more capabilities and better visibility with native USDC on Polygon PoS, which is currently the best scalability model compared to a bridging architecture.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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