USD Coin (Gnosis)
USDC is a centralized stablecoin backed by USD reserves held by a licensed custodian (Circle).
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Invest- Gnosis
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- Asset Type: ERC-20
- Market Cap: $60.9B
- Fully Diluted Valluation: $60.9B
- FDV / MC: 1
- Ranking inside Exponential (among stables): #2
- Circulating Supply: 60,862,214,799
- Total Supply: 60,878,592,251
- Volume (24H): $10.6B
- ATH: $1.17 (05/08/2019)
- ATL: $0.88 (03/11/2023)
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 OmniBridge, 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.
OmniBridge
USDC has an uncapped supply but has inflation control or burn mechanisms in place. USDC on Gnosis is backed 1:1 by ETH locked in the OmniBridge protocol 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.