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Internet Computer Introduces ckUSDC Sepolia, an ICP Version of USDC Utilizing ckERC20 Token Standard
The testing version of the ckETH minter on the Internet Computer (ICP) mainnet has been enhanced, now incorporating the Sepolia variant of the USDC token.
In a recent forum update, Christian Müller, Senior Software Engineer at DFINITY, disclosed that users can acquire Sepolia ETH from various online faucets and Sepolia USDC to interact with the Sepolia ETH and USDC tokens.
After obtaining these tokens, users can deposit both Sepolia ETH and USDC to mint ckETH and ckUSDC, respectively.
DFINITY Foundation is a non-profit organization focused on developing technology for the Internet Computer (ICP) blockchain.
ckETH is Not Necessary for USDC Deposits
It is crucial to understand that while ckETH is not needed to deposit USDC, it is required to withdraw ckUSDC and receive USDC in return.
Moreover, a portion of the ckSepoliaETH will be utilized by the minter canister to facilitate transfer transactions on the Sepolia testnet.
The canister IDs for the ckSepoliaETH minter are also provided for reference.
Additionally, the ckSepoliaETH minter features a dashboard that displays conversions and related Ethereum transactions for both ckETH and ckERC20 transactions.
Related Posts
Announcing ckUSDC testnet on Sepolia
Discover the future of DeFi with ckUSDC Sepolia, the digital counterpart of #USDC Sepolia on #ICP
Next up, ckERC20
https://t.co/G7ecRmJbC4
— DFINITY (@dfinity) April 24, 2024
https://t.co/G7ecRmJbC4Developers who wish to facilitate conversions between ERC20 and the corresponding ck-twin token in their dapps are encouraged to begin experimenting with ckUSDC.
Müller highlights that the project remains under development, indicating that users may face bugs and the canister’s state might reset following upgrades.
“It is anticipated that there are still bugs. Please assist us in making ckETH/ckUSDC robust by reporting any issues here,” he stated.
“If the instructions do not work for you, please let us know, and we will gladly assist and enhance the instructions.”
It is important to mention that, at present, there is no user-friendly front-end available, so users should be familiar with using dfx calls, particularly for the final step.
In June of the previous year, the ICP implemented an upgrade proposed by the community to broaden support for all canister smart contracts, allowing users to hold and transfer ICP tokens.
Meanwhile, DFINITY aims to directly connect the Bitcoin (BTC) network with the Internet Computer, enabling smart contracts on Bitcoin through an application of Chain Key cryptography, as stated.
The post Internet Computer Launches ckUSDC Sepolia, an ICP Copy of USDC in ckERC20 Token Standard appeared first on Cryptonews.
