Wanchain’s ambition to advance blockchain interoperability is expanding with a partnership with Circle. Wanchain is one of Circle’s Cross-Chain Transfer Protocol (CCTP)’s early launch partners.
So, Wanchain is smoothly integrating CCTP into its cross-chain infrastructure. This means that users can take advantage of the capacity of Circle’s CCTP to transfer native USDC between Ethereum and Avalanche.
The CCTP is simply an on-chain tool that burns and mints native USDC on compatible chains. It contributes to streamlining USDC liquidity across blockchains by ensuring that cross-chain transfers can take place without bridges needing to “lock” assets during the process.
1/ Wanchain is proud to be a launch partner for @circle's Cross-Chain Transfer Protocol!
CCTP is an on-chain utility that burns/mints native #USDC. It is now integrated into the Wanchain Bridge. #WeAreAllConnected
🧵
— Wanchain (@wanchain_org) April 26, 2023
CCTP and the Wanchain Bridge
CCTP brings further interoperability to the scene. Users can quickly and easily transfer native USDC between compatible networks by using CCTP via the Wanchain Bridge. Circle’s USDC CCTP also bypasses the demand for wrapped USDC on blockchains where USDC exists natively. It accomplishes this by enabling native-to-native cross-chain transfers between those blockchains. In a nutshell, it serves a similar purpose to Wanchain’s XFlows for USDT.
The Wanchain Bridge now has the option of using CCTP if it is available for USDC cross-chain transfers. However, the bridge will deploy Wanchain’s XFlows if the CCTP is unavailable. This means that CCTP and XFlows work harmoniously to produce an exciting and smooth user experience.
As per an official report, Circle’s CCTP will only support transfers between Ethereum and Avalanche at launch. However, the partnership will extend to other chains later this year.
Using the bridge
Here’s how CCTP works on Wanchain:
- You need an appropriate wallet.
The process begins with having access to the appropriate wallet(s). All networks involved in the cross-chain transaction require their own wallet. Since Metamask supports EVM-compatible chains, it is a great option.
2. Go to bridge.wanchain.org and click “Connect to Wallet.”
Select “MetaMask.”
3. Here’s where you begin the process of moving $USDC from Avalanche to Ethereum. First, select “USDC” from the drop-down menu. Afterward, select “Avalanche C-Chain” and “Ethereum” as your From and To networks. Lastly, add your destination address in the “Recipient” field. You’ll also have to input the amount of $USDC you intend to move. Select “Next” to move on with the process.
Ensure you have the correct details. Click “Confirm” to proceed.
Wait for a few minutes. The “Confirm” icon will change to a “claim” icon. Do not close your browser while waiting. It might disrupt the process.
4. Claim your USDC
Click “Claim”. You’ll need to claim your USDC on the target chain (Ethereum for this example). So, MetaMask will prompt you to switch networks to claim your USDC. Click on “Claim” once you’ve made the switch.
5. Wait for the transfer to process. This part demands some patience. Here, your status will also change two times:
- Claim
- Success
Refresh your page and click on “Claim” if you have any issues at this point.
The process is pretty straightforward. Visit Wanchain for further insight or more details about its cross-chain infrastructure. Moving native USDC across chains this easy just like with USDT in XFlows is just one more step towards true interoperability.
⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️ Our popular Altcoin Buzz Access group generates tons of alpha for our subscribers. And for a limited time, it’s Free. Click the link and join the conversation today.
){kind=link}