Oasys has partnered with Celer Network to natively support USDC, enhancing the security and interoperability of this USD-pegged stablecoin within its ecosystem.
This integration will allow users to benefit from seamless cross-chain communication and automatic transition from Bridged USDC to native USDC, ensuring a smoother and safer experience.
Find out more about these significant updates and how they impact USDC holders on Oasys.
Enhanced Security for USDC Now Available on Oasys
On July 3, 2024, Oasys (OAS), a game-centric blockchain, announced its collaboration with Celer Network, a layer-2 scaling solution enabling seamless cross-chain communication, to support the native integration of the USD-pegged stablecoin USDC.
USDCoin (USDC) is a USD-pegged stablecoin issued by the regulated company Circle, which can always be exchanged 1:1 with the US dollar, making it a low-risk option for maintaining value.
With native USDC support, users within the Oasys ecosystem will benefit from a more secure and interoperable stablecoin.
Specifically, this integration will utilize the “CCTP” feature, which allows USDC to be burned on the source chain and minted on the destination chain.
Moreover, with native USDC implementation, Oasys will directly issue highly secure USDC backed by Circle’s reserves. This ensures safer USDC transfers between multiple blockchains that also support native USDC via CCTP.
Initiation of Bridged USDC Support
The announcement also detailed the adoption of Circle’s “Bridged USDC Standard” to ensure seamless native USDC integration. This standard will facilitate the support of “Bridged USDC” issued by Celer cBridge.
With the support for Bridged USDC, users will be able to automatically benefit from the transition to native USDC without the need for manual swaps or additional tasks in the future.
Additionally, the previously used USDC will be treated as “Legacy Bridged USDC (Celer)(USDC.e-legacy)” from July 3, 2024, requiring holders to perform swaps or bridging to the new Bridged USDC.
Detailed instructions for swaps and bridging can be found here.
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