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Bridged USDC (Sonic)
USDC.e
USDC.e is a wrapped version of USDC bridged through the Sonic Gateway.
Risk Rating
Average
$1.00
0.00%
What is Bridged USDC (Sonic)?
Information
Blockchain
- Sonic
Key Metrics
- Market Cap: $72.3B
- Fully Diluted Valluation: $72.3B
- FDV / MC: 1
- Ranking inside Exponential (excluding stables): #2
- Circulating Supply: 72,282,278,333
- Total Supply: 72,287,918,230
- Volume (24H): $14.3B
- ATH: $1.17 (05/08/2019)
- ATL: $0.88 (03/11/2023)
Risk Assessment
Average
Asset Strength
USDC.e 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 Sonic Gateway, a protocol rated as Watch out.
USDC.e is a stablecoin that usually trades within 20bps of its peg to USD, which makes it a solid store of value.
Dependencies
Sonic Gateway
Asset Tokenomics
USDC.e does not have a supply schedule. USDC on Sonic is backed 1:1 by USDC locked in the Sonic Gateway bridge on the Ethereum chain. USDC is backed 1:1 by USD reserves held with a licensed custodian (Circle). USDC is fully redeemable for its USD reserves, providing an effective mechanism to retain the peg to $1.
Things to know about USDC.e
USDC.e Pools
