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Circle: Support for USDC on Flow (Cadence) will be discontinued due to network upgrade

Circle: Support for USDC on Flow (Cadence) will be discontinued due to network upgrade

Odaily2024/08/05 17:41
By:Odaily
Odaily News According to official news, due to the upcoming network upgrade, Circle plans to stop supporting USDC on the Flow (Cadence) blockchain at 3 am (EST) on September 3, 2024. USDC minting on Flow will continue until noon (EST) on August 27. On September 3, Circle will freeze the remaining USDC on Flow, take a snapshot of all USDC balances on Flow, and manually process any remaining redemption requests based on the snapshot. The manual redemption process will begin on September 4, 2024. To be eligible, USDC holders on Flow must: meet Circles compliance and security requirements; store USDC in a wallet controlled by the holder; and, their wallet address must be included in the snapshot of USDC on Flow.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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