Company
Date Published
Author
Team Circle
Word count
398
Language
English
Hacker News points
None

Summary

Circle Internet Financial is preparing for the mainnet launch of CCTP V2 on Solana by deploying a new pre-mint address to facilitate the programmatic minting of USDC. This pre-mint address, along with others, is available in their GitHub repository, and it plays a crucial role in managing USDC supply on non-EVM blockchains like Solana. The pre-minting process involves holding USDC in these addresses before it officially enters circulation, with the balance only increasing or decreasing as authorized transactions occur. Circle emphasizes that pre-mint addresses are exclusively for their internal use, warning against sending USDC to these addresses to avoid loss of funds. The pre-mint system allows Circle to maintain a flexible and responsive USDC supply mechanism, similar to burning on EVM blockchains, and they encourage engagement through their Discord for further assistance with CCTP V2 on Solana.