USDC on the @HBAR Foundation @Hedera network is a stablecoin backed by the US dollar, issued by Circle on the Hedera network. This digital asset is characterized by stability due to its full backing by cash reserves, making it an ideal option for digital transactions and decentralized finance (DeFi).
Why USDC on Hedera?
USDC on the Hedera network is the most cost-efficient option for sending the stablecoin USDC. Compared to other networks like Ethereum, Solana, Sui, Kronos, Arbitrum, Avalanche, XLM, Optimism, Polygon, Base, ZkSync, and NEAR, the Hedera network offers significantly lower fees.
Through the decentralized economy of the Hedera network, users can achieve profits of up to 20% APR when using USDC on this network, making it a profitable option for investors in the decentralized finance sector.
What is the Hedera network?
Hedera is an open-source enterprise-level blockchain network that supports an EVM environment and uses a unique consensus algorithm known as "Hashgraph." This technology provides a processing capacity of over 10,000 transactions per second (TPS) with a fixed average cost of $0.0001 per transaction, making it one of the most efficient networks.
The Hedera network is managed by some of the largest global institutions, such as Google, IBM, Dell, Chainlink, BitGo, Mondelez, and Worldpay. These companies contribute to running nodes on the network, participate in governance, and explore new use cases based on Hedera technology.
What makes decentralized finance (DeFi) on Hedera special?
One of the prominent features of decentralized finance on Hedera is its resistance to Miner Extractable Value (MEV) exploitation. Thanks to a fair transaction ordering system, Hedera prevents known attacks like MEV, ensuring equal opportunities for all users and reducing exploitative practices like front-running that occur on other networks.
SaucerSwap is the largest decentralized trading platform (DEX) on Hedera, where users can earn yields from digital assets and stablecoins like USDC. Currently, yields of up to 20% APR can be achieved on USDC on SaucerSwap.
Additionally, Bonzo Finance is the largest lending and borrowing protocol on the Hedera network, based on the open-source and tested AAVE protocol. Users can achieve yields of up to 17% APR 🔥 when using USDC through Bonzo.
Which wallet should be used?
HashPack is the leading wallet for retail users on the Hedera network, serving as the essential tool for interacting with decentralized finance applications on the network. HashPack supports easy storage and sending of USDC, as well as offering advanced security features and a seamless user experience.