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Algorand USDC: an Exciting Addition to Liquid Multi-Chain
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With the advancement of blockchain technology, it is becoming increasingly important for various blockchains to interact in a seamless manner.
Liquid’s Multi-Chain support for single assets allows our users to enjoy lower withdrawal fees and faster withdrawals for tokens across different chains while entirely abstracting away the technological challenges of dealing with multiple wallets and private keys.
In making Algorand USDC (USDCa) available to our users, Multi-Chain on Liquid grows stronger, solving issues arising from recent spikes in blockchain fees and improving service levels for our clients.
To celebrate the launch, we are waiving withdrawal fees on Algorand USDC (USDCa) on Liquid!
USDC on Algorand
Algorand is the world’s first, decentralized, Pure Proof-of-Stake blockchain. Built to support global scale and speed, with a micro-fee structure and guaranteed transaction finality in 4 seconds, the Algorand blockchain is the frictionless platform for the future of tokenization, DeFi, and the world’s payment systems.
Algorand’s powerful ASA asset standard enables the fast and easy creation of tokens or assets on the Algorand blockchain. These tokens can then be utilised by the powerful and highly flexible smart contract functionality built into the Algorand Layer-1 feature set.
Thanks to this powerful asset and smart contract functionality, the Algorand DeFi ecosystem is experiencing exponential growth with new projects launching daily. These projects are benefiting from the Algorand Foundation’s $300M Viridis DeFi fund to enable best-in-class infrastructure, applications and liquidity in the DeFi space.
Just as importantly, these DeFi applications are built on Algorand’s sustainable, carbon-negative network - an innovation that enables wealth creation while protecting the planet.
Since USDC on Algorand (USDCa) has been built using the ASA standard, it benefits from all the features of the Algorand blockchain - high speed, micro-fees ( $0.001c per t/x ), immediate t/x finality, and the ability to be used at a global scale.
Most importantly, all these transactions will run on a network that is un-forkable and has had zero downtime in the two years and counting since mainnet launch.
USDCa is available for deposit and withdrawal on the following exchanges:
Take advantage of Liquid Earn
Our Multi-Chain feature allows Liquid Earn users to earn rewards on USDC, irrespective of the blockchain network they chose to fund their account.
For example, you can deposit Algorand USDC and start earning 8.875% APY on your USDC, without the need of swapping it to the ERC-20 version.
Additionally, you can withdraw USDC using a preferable blockchain network from the available list on Liquid.
What is Liquid Earn? Learn more.
Want to learn more about Algorand and Algonrand USDC?
To learn more about Algorand and Algorand USDC, check out their website.