What is thena? Discover the outstanding features of Thena and THE . token
Ngoài PancakeSwap, hệ sinh thái BNB Chain còn có một AMM khác có TVL đạt 150 triệu USD chỉ sau hai tháng ra mắt, dự án này được gọi là Thena.
USDC is a stablecoin issued by Coinbase and Circle in 2018. Like USDT or any other token backed by the US dollar, the value of USDC is always fixed at US$1.
USDC is traded on most major cryptocurrency exchanges and crypto providers today. Like USDT, USDC can be sent, received and stored using any wallet or exchange that is compatible with ERC-20 tokens (Ethereum) along with many other blockchains such as Algorand, Stellar, Avalanche, Hedera , Tron and Solana .
Many people mistakenly believe that USD Coin is issued or backed by the US government. However, USDC is an open source project, anyone can view and contribute to the project's source code.
USDC is developed and managed by the Center Consortium, which is a partnership between payment service provider Circle and cryptocurrency exchange Coinbase. The Center will be responsible for developing the technology and management for USDC. While Circle and Coinbase handle the development of the trade, promoting USDC.
Unlike USDT, where Tether is the sole issuer, USDC can be issued and redeemed by member institutions of the CENTER Stablecoin Network created by Circle and Coinbase.
Commercial USDC issuers must meet all licensing, procedural, accounting, and technical and operational requirements. To ensure that the USDC value always remains at US$1, issuers must also back all tokens with fiat reserve assets and provide monthly reports to the network.
The process of converting USD into USDC tokens is called tokenization.
Tokenizing USD to USDC is a three-step process:
The process of converting USDC to USD is as simple and easy as encoding USD to USDC:
As a stablecoin, USDC can be used in a few ways:
If you are a US citizen, you can trade USD to USDC or vice versa from Circle's own platform as well as the exchanges it has acquired. In addition, you can buy, sell, trade USDC at most major and small cryptocurrency exchanges in the world such as Binance, Coinbase, OKX, Poloniex, Uniswap...
USDC is an ERC-20 token. So you can store USDC on any ERC-20 enabled wallet like MyEtherWallet, Trust Wallet, MetaMask, Ledger, Trezor… You can also store USDC directly on exchange wallets to convenient for your buying and selling process.
Both USDC and USDT are the most popular stablecoins today, and the value is pegged to the US dollar. That is the only similarity between these two coins. You can track some of the basic differences between USDC and USDT in the following table:
Tether | USD Coin | |
Ticker | USDT | USDC |
Current price | 1 US Dollar | 1 US Dollar |
Publisher | Tether Limited | Center Consortium (Circle and Coinbase) |
Release year | 2014 | 2018 |
Market Cap | US$80 billion (March 2022) | US$52 billion (March 2022) |
Frequency of checking reserve assets | Seldom, no often, rarely | Monthly |
Both USDT and USDC are popular options that are used and traded frequently on most cryptocurrency exchanges today. However, due to its inception 4 years ago, USDT has long been the most widely used stablecoin with the highest trading volume. That also means the number of trading pairs of USDT will be significantly more than USDC. USDT has now also developed and is present on 8 blockchain platforms while USDC is only 6 platforms.
Investors can only convert USDT into USD and vice versa at Tether Limited with a minimum conversion value of USD 100,000. With USDC, investors can convert to Coinbase or Circle company with an unlimited amount of conversion. Investors will have to pay a fee to Tether when performing the USDT conversion process while with USDC it is completely free.
After many accusations, doubts about transparency and the amount of assets in reserve, it was not until March 2021 that Tether released its reserve analysis report. Consists of 85% cash and commercial paper, the remaining 15% are bonds, debt and other investments. Since then, Tether has taken steps to gradually become more transparent by publishing its reserves through daily updates. However, there is still a lot of data that Tether has not made public such as debts, commodity futures transactions, etc.
In contrast, USDC's parent company, Center Consortium, has always adhered to and well complied with Government regulations, regularly publishing audited reports on their reserves. Circle issues monthly audit of USDC reserves by renowned accounting firm Grant Thornton LLP. They also pledged to own only US dollars and short-term bonds in their fund.
USD Coin is a fast growing and powerful cryptocurrency project, issued by many trusted financial institutions. Since announcing the project in May 2018 until now, USDC's ecosystem has expanded to more than 60 different large and small partners. USDC's reserves are also regularly updated and reported to users monthly by leading auditing firms.
However, most other new stablecoins now have similar terms to USDC. Not only that, countries also intend to issue their own stablecoins to easily regulate the crypto market. With more and more stablecoins being born, Tether's influence on the cryptocurrency market is limited and opens up new investment options for participants.
In the face of this fierce competition, in order to attract and gain trust from users, stablecoins need to demonstrate transparency, price stability, attractive incentives, and be guaranteed and controlled by reputable agencies and organizations. And USDC is one of the stablecoins that has fulfilled the above conditions making it a worthy investment in the crypto market.
USDC is the most commonly used stablecoin in the crypto market, after USDT. USDC can be converted completely free, secure, transparent to USD at any time through smart contracts on the Ethereum platform. Hopefully, through this article, readers have received a lot of valuable information about USDC. Good luck with your trading!
Ngoài PancakeSwap, hệ sinh thái BNB Chain còn có một AMM khác có TVL đạt 150 triệu USD chỉ sau hai tháng ra mắt, dự án này được gọi là Thena.
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