02 Mar 2023•
4 min read
We're incredibly excited to announce that Wormhole has partnered with Circle to provide a seamless cross-chain development experience. Wormhole is launching a new set of contracts integrating Circle’s Cross-Chain Transfer Protocol (CCTP), enabling developers to compose generic messages on top of cross-chain, native USDC transfers. This integration is now live in testnet.
While Circle’s USDC lives natively on several different blockchains, those tokens are not fungible and can’t be moved easily across chains. That is, until now.
At Converge22, Circle announced plans to launch a permissionless protocol, the Cross-Chain Transfer Protocol (CCTP), which uses the same cross-chain burning and minting process as a commercial Circle Account, enabling users to transfer USDC natively across chains. With Wormhole integrating CCTP, it is easier than ever to utilize.
Wormhole’s integration with CCTP enables significantly more powerful cross-chain applications alongside the benefits of burning and minting native USDC across the supported chains. Wormhole-powered generic messaging lets developers compose any arbitrary set of cross-chain functions with a native USDC transfer.
Wormhole is releasing two sample demos, along with the associated code repositories, to illustrate what developers can build on top of WH x CCTP smart contracts:
Wormhole’s native swap demo utilizes native USDC transfers as a “highway” that subsequently enables swaps on the destination and source chains. For example, a user wants to swap native ETH on Ethereum into AVAX on Avalanche.
The contracts utilize both Wormhole’s generic messaging and Circle’s CCTP to:
Wormhole’s cross-chain transfer + swap demo composes a token transfer and a swap into a single transaction. A user can pay gas on the source chain to transfer native USDC between Chain A and Chain B while also electing to swap some of the transferred USDC into the destination gas token.
Beyond asset transfers, Wormhole's integration with CCTP increases the options for constructing cross-chain DeFi protocols, such as:
Wormhole is open source from the start. Dive into our docs and begin developing on the cutting-edge of cross-chain: Start right here.
If you’re new to Wormhole, here’s what you need to know:
Wormhole is an interoperability protocol that allows projects to build on top of its generic message-passing layer. It connects to multiple chains, including Ethereum, Solana, Binance Smart Chain, Polygon, Avalanche, Algorand, Fantom, Karura, Celo, Acala, Aptos and Arbitrum. Wormhole does this by emitting messages from one chain to another, which are observed and verified by a Guardian network of nodes. After verification, this message is submitted to the target chain for processing. This simple message-passing primitive enables xChain functionality. Users interact with xDapps (xChain decentralized applications) to transfer xAssets (cross-chain assets) between networks or access their xData (xChain data) to provide them services on their current network.
Applications built with Wormhole allow users to send assets to and from any of the 20+ supported chains without double-wrapping the asset. It enables seamless access to each network’s vibrant DeFi and NFT ecosystems!
If you have questions, need support or simply want to connect, join the Wormhole community and keep up-to-date with our upcoming announcements. We’re always happy to hear your feedback. Join our discord, and drop us a comment!
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