Official Stablecoin Asset Identification Guide: Analysis of On-Chain Distribution of USDT and USDC

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Recently, some users were surprised to find that the USDT and USDC circulating on certain Blockchain networks are not the native assets directly issued by the official. This has raised concerns about the asset security of Crypto Assets. When using Digital Money, it is crucial to understand the chain it is on and the officially recognized cross-chain bridges. This article will explore how to determine whether a stablecoin is an officially issued native asset and how to identify the cross-chain bridge support for non-native assets.

Multichain suspension exposes asset security issues, how should we determine whether a stablecoin is an official native asset?

Regarding USDC, the official website's FAQ section clearly lists 8 blockchain networks that support native USDC: Ethereum, Solana, Avalanche, Tron, Algorand, Stellar, Flow, and Hedera. Any other USDC on different chains is a bridged asset. It is worth noting that although USDC on Polygon has received official support, allowing for direct deposits and withdrawals, it is actually still issued through the official Polygon bridge rather than natively.

Multichain downtime exposes asset security issues, how should we determine if a stablecoin is an official native asset?

The official website of USDT lists all the blockchain networks that support native USDT on the transparency page. This includes the Omni protocol, which is considered the predecessor of BRC20 and was the original platform for USDT issuance.

Multichain downtime exposes asset security issues, how should we determine if a stablecoin is an official native asset?

For non-native assets, you can check their cross-chain bridge support through data platforms like DeFillama. For example, you can view the distribution of USDC across various chains and the bridges that support it. If you cannot find relevant information on the data platform, you can conduct further inquiries using search engines or blockchain explorers.

Multichain suspension exposes asset security issues. How should we determine whether a stablecoin is an official native asset?

It is worth noting that most stablecoins on mainstream Layer 2 networks are still non-native assets. However, due to the technical characteristics of Layer 2, these bridged assets may have higher security compared to Layer 1. Users can assess relevant risks using tools such as l2beat.

Multichain suspension exposes asset security issues, how should we determine if a stablecoin is an official native asset?

In general, to ensure asset security, it is recommended to hold native stablecoin assets on mainstream Blockchain networks as much as possible. This can reduce potential risks caused by third-party cross-chain bridges.

Multichain suspension exposes asset security issues, how should we determine whether a stablecoin is an official native asset?

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SatoshiSherpavip
· 08-04 21:59
Just some on-chain suckers.
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RektRecoveryvip
· 08-04 21:57
another predictable vulnerability waiting to explode... seen this movie before
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CountdownToBrokevip
· 08-04 21:57
I'm losing money
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MetaMiseryvip
· 08-04 21:49
Still using bridge assets? That's out of the question.
View OriginalReply0
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