The L2 base bridge warp.green is transitioning to NATIVE USDC on the Chia L1 once the equity CAT is in place with revocation rights in January.
DETAILS
warp.green follows the standard to deploy their bridged USDC token contract.
Bridged USDC is used to bootstrap initial liquidity in the ecosystem and begins to proliferate.
Bridged USDC reaches a significant supply, amount of holders, and number of app integrations.
Circle and third-party team jointly elect to securely transfer ownership of the bridged USDC token contract to Circle
Upon obtaining ownership, Circle upgrades bridged USDC to native USDC and seamlessly retains existing supply, holders, and app integrations
Bridged USDC Standard grants Circle the option, but not the obligation, to obtain ownership of the token contract and upgrade to native USDC. Circle’s decision to upgrade a blockchain from bridged USDC to native USDC may subject the blockchain to additional terms and conditions.
Unfortunately, no. At this point, an existing bridged USDC token contract cannot be upgraded to match Bridged USDC Standard if the original contract deployment did not follow the standard’s technical requirements.