I keep seeing ppl saying it is in YouTube comments etc… but I can’t find anything
ckUSDC which is a digital twin of USDC is now available on ICP. More info here.
Thanks for the reply, did that just happen or awhile ago? sorry I’m new!
It launched on ICP mainnet last week!
By digital twin you mean its a wrapped erc20 token?
With the way that chain key technology works I wouldn’t quite call it a wrap of the other token. Hence the term twin.
Exactly, thank you @ckMood.
We don’t call them wrapped, because there is no centralized middleman when converting between one token and another. Converting from USDC and ckUSDC is completely on-chain and permissionless.
Afaik ckUSDC is not real USDC, just a copy of it issued by custodial subnet, which in turn is governed by NNS - A single point of failure. Its a wrapped token.
The term digital twin implies there’s a physical coin of USDC, like how Origyn used to describe their AI fingerprint NFTs of physical luxury goods, example: a Watch.
In the simplest terms, ckUSDC is an ICRC token, which is a wrapped version of ERC20 USDC token custodied by ICP subnet with chain key?
just semantics maybe
On the roadmap there’s also a box that talks about native USDC coming to ICP:
Source: Roadmap | Internet Computer (in “chain fusion” section)
At first I thought that was just referring to ckUSDC but that’s already live while the box in the picture is listed under “future features” section.
I think it’s worth noting the difference between typical bridges vs. chain key technology. While ckUSDC is hosted on the IC using its own token standard which is a sort of jacketed version an ERC20 token standard, it is a fundamental difference from typical bridges and custodial means of wrapping tokens.
I’ve learned a lot, thanks for all the replies, looking forward to native usdc on IC