On the 17th, the stablecoin company Circle announced that it will launch native $USDC and cross-chain transfer protocol (#CCTP) in SUI. After seeing some discussions, I was curious and wanted to learn together 👇
♻️ Let’s take a look at the benefits of native USDC and CCTP first!
1️⃣ What are the benefits of native USDC?
① 100% regulated, fully reserved, 1:1 exchange for US dollars
② Ecological builders have the opportunity to enable institutional interfaces such as Circle Mint
③ It is more convenient to access DAPP
2️⃣ What are the benefits of CCTP protocol?
① Users can safely move USDC between 9 chains and 72 lines with 1:1 capital efficiency. In short, it is almost lossless movement
② By creating multi-chain programs, transactions between different block technologies such as MoveVM, EVM, SVM and Cosmos SDK are promoted
③ While maintaining the mainstream user experience, seamless cross-chain, exchange, purchase and other personalized behaviors are achieved
♻️ What impact do native USDC and CCTP have on Sui?
1️⃣ Developers will be able to build on Sui using the most regulated stablecoins in the crypto world, which will help legitimize their applications or projects
2️⃣ Sui will be the first blockchain based on MoveVM to support native USDC and CCTP
3️⃣ CCTP allows Sui to securely transfer USDC with other chains through native destruction and minting, which means that soon Sui will be able to establish cross-chain processes directly from other chains such as Eth, Arb, Base, Solana, etc.
♻️ In addition, Sui's main developer Mysten_Labs previously announced the launch of the Walrus protocol, which is an extremely efficient and powerful decentralized storage suitable for blockchain applications and development.
CCTP superimposed on Walrus, Sui is ready to welcome a large number of users and developers!
♻️ Hippo believes that this update is of great significance to Sui:
1️⃣ In today's increasingly stringent blockchain legalization review, it is equivalent to adding another layer of endorsement to Sui.
2️⃣ If we combine Sui's recent price trend (3 times in 45 days), it seems that there are large funds outside the market betting.
♻️ From endless fud to rocket launch, Sui is increasingly like Solana. Some people also set Sui as Sol's potential biggest challenger. I am looking forward to it.
Can Sui become the next Sol, or even the new Mount Rushmore? Wait and see👀
I am Hippo. The above are some of my summaries and sharings. They are not investment advice. DYOR!
Looking forward to your likes, reposts and comments❤️
