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Jeremy Allaire announces that USDC will be launched on Base network in the coming week.

Jeremy Allaire announces that USDC will be launched on Base network in the coming week.

In a wild and electrifying announcement, Circle has declared that the Base version of its USDC stablecoin will soon be unleashed upon the world, obliterating the need for the USDbC bridged version. Brace yourselves, ladies and gentlemen, for a StableSeptember like no other!

According to the mad genius CEO Jeremy Allaire, the native $USDC will make its grand entrance on the Base network next week. This new version will replace the feeble USD Base Coin (USDbC) that has been relied upon by mere mortals as a substitute. It’s time to step up your game, folks!

But let’s rewind for a moment. When Coinbase’s Base network first burst onto the scene on August 9, there was no trace of a native USDC. Despair filled the air as users were unable to deposit their hard-earned cash into a Circle account and receive the glorious USDC on Base. But fear not, for the Base team devised a solution – a bridge app that allowed users to bridge USDC from Ethereum. This bridge gave birth to the token known as “USDbC,” which was backed by the mighty native USDC locked on the Ethereum network.

But now, my friends, the tides are turning. Circle has announced that they will soon be issuing USDC directly on Base, rendering the bridged coin obsolete. The new token’s contract has already been deployed to Base, and on launch day, the team will reveal how to redeem your pitiful USDbC for the majestic native USDC. They will also work with ecosystem apps to ensure a smooth transition for liquidity providers. Fear not, for the current Base bridge will continue to operate normally for now.

As for an exact launch date, Circle has left us hanging in suspense. Allaire has only revealed that it will happen sometime next week. So mark your calendars and prepare for the storm!

In summary:

– Circle will launch the native version of USDC on the Base network next week, eliminating the need for the bridged USDbC.

– The new token’s contract has already been deployed to Base.

– Details on redeeming USDbC for native USDC will be revealed on launch day.

– The current Base bridge will continue to operate normally for the time being.

– The exact launch date has not been announced yet.

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