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USD Coin (USDC) is a stablecoin released by popular exchange Coinbase in collaboration with payments company Circle in 2018. Backed by the US Dollar on a 1:1 ratio, the token is an ERC-20 token that can be purchased on Coinbase’s platform. Coinbase has said that it chose the Ethereum protocol because of its smart contract capabilities and strong developer support.
Like other stablecoins, it is intended to help traders overcome the volatility of the market. Coinbase has said that it is part of its mission is to “build an open financial system for the world”, and it does indeed allow anyone from across the world to purchase the stablecoin and use it for trading and various services.
Stablecoins often receive scrutiny relating to whether or not the issuing entity has enough reserves to back every token up, but Coinbase assures users that the holding accounts are closely monitored and audited. USD Coin is an example of a fiat-backed stablecoin, which is often what receives the greatest scrutiny.
Having one very specific purpose, there is not much in the way of development news for USD Coin. Coinbase is however working on making it more widely available, including on more exchanges and services.
19 Apr 2023 2 minute read 5 comments PVM $1.01
We turn black hat hackers into white hat hackers using the right incentives. Hats Finance is creating the future of security! Crypto security is one of the hottest topics of 2023, and the Hats Finance innovative proactive bounty protocol aims to en...
12 Apr 2023 4 minute read 0 comments fmiren $0.02
I published the following piece on Medium in January, before USDC depeg. The Volatility of Stablecoins Introduction Stablecoins are designed to keep their value against the benchmark asset, such as a commodity, fiat currency or another cryp...
5 Apr 2023 1 minute read 0 comments dotMatrix $0.02
Good morning Pub0xers, I hope today finds you well. I'm in a much better mood this morning. I'm still not quite over the rant from yesterday and the work to remove Meta's sticky data tentacles from my testicles continues. I digress, but I do have g...
1 Apr 2023 2 minute read 5 comments PVM $2.11
What is CRE8R DAO? The answer is in the name - a creators decentralized autonomous organization! CRE8R DAO is a collective of content creators with #DeFi knowledge and multimedia skills. They create content with a built-in audience, using a mechanism...
1 Apr 2023 3 minute read 0 comments Cje95 $0.82
Harvest has decided to end the first quarter of 2023 with an absolute BANG, to say the least. As I have written about Harvest is gearing up to release Harvest 3 which will incorporate a ton of new features that will help simplify the process for peop...
28 Mar 2023 3 minute read 0 comments Thumbs Up $0.16
Hey friends 👋 I've been a big fan of PoolTogether since I first discovered it. In case you missed it, PoolTogether is a crypto-native prize-linked savings protocol. How it works is quite simple. Users deposit funds into the protocol, which in turn...
28 Mar 2023 3 minute read 2 comments Cje95 $0.43
It seems like months ago now but prior to the bank run, Binance was in the news for all of the wrong reasons. Making the matters worse was that Binance was self-inflicting these wounds and honestly seemed to be going out of its way to do something th...
24 Mar 2023 3 minute read 2 comments Cje95 $0.56
Before the crypto winter set, countries and cities worldwide were looking to become crypto hubs much like how Silicon Valley had become a worldwide hub for the technology industry. In Europe one of the early players to embrace this role was Ukraine b...
24 Mar 2023 3 minute read 4 comments Dave Sawyer $0.45
Cryptonauts, we love ya! & the universe does too!! The tradfi Pravda is coming out swinging at crypto! But even though the pink lady has changed up & hard wired the search engine to ignore it, they STILL gotta print bitcoin over 28,500 on the fro...
21 Mar 2023 6 minute read 2 comments Thunderboltkid $1.20
How long do you sit on your Stable Coin stash? That is the current question and Hodlr dilemma. Answer?: When that 'Stable coin' is no longer stable. (not liquid= slow to convert to US $ ) THE HODLR HERD IS NERVOUS Witness Circle and USDC, since Ma...
