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USDC Smart Contract on the Internet Computer

Extending USDC

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Canister smart contracts on ICP can integrate with the Ethereum network using a combination of replicated HTTPS outcalls to a known set of public Ethereum nodes to read state and submit transactions, and chain-key ECDSA (ckECDSA) signatures, an enhanced version of threshold ECDSA, to sign those submitted transactions.

Building upon this integration framework, ckUSDC is a pair of canister smart contracts that utilize HTTPS outcalls and ckECDSA services. The ckETH minter and ckUSDC ledger contracts work together to enable users and smart contracts to send and receive USDC value within seconds with negligible transaction fees, and no gas fees, while also always allowing users and smart contracts to send and receive USDC value to and from the Ethereum network.

ckUSDC exposes ICRC-1 and ICRC-2 ledger interfaces (the fungible token standards of ICP), making it simple for all wallets on the Internet Computer to offer ckUSDC support.

The pair of smart contracts work in unison to ensure that the total value of ckUSDC is fully backed 1:1 by USDC. This can always be verified by viewing the on-chain dashboards and metrics of the canisters: ckETH Minter dashboard, ckETH Minter metrics, ckUSDC Ledger metrics.
ckUSDC Total Supply
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ckUSDC Canisters
ckUSDC Transactions