USD Coin (Native Polygon PoS)
USDC on Polygon PoS chain is natively issued by Circle and should not be confused with USDC.e, the Ethereum-bridged version of USDC. USDC is a centralized stablecoin backed by USD reserves held by a licensed custodian (Circle).
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- Polygon
- Asset Type: ERC-20
- Ranking inside Exponential (among stables): #125
USDC is a large-cap, fully collateralized asset. This asset depends on a centralized entity for custody services. This asset is exposed to the underlying risks of Polygon PoS bridge, a protocol rated as Watch out.
USDC is a stablecoin that usually trades within 20bps of its peg to USD, which makes it a solid store of value.
USD Coin (Native Polygon PoS) has no dependencies.
USDC does not have a supply schedule. USDC on Polygon is backed 1:1 by USDC locked in the Polygon PoS bridge protocol on the Ethereum chain. USDC is fully redeemable for its USD reserves, providing an effective mechanism to retain the peg to $1.
