Path towards making USDC a gas currency

Hi all,

By now you may have seen the announcement that Circle is planning to launch USDC natively on Celo.

cLabs is super-excited to welcome Circle to the Celo community :slight_smile: :tada:

We recently announced Celo Core Contracts Release 11. This upgrade includes some important enhancements to fee currency support, along with other fixes. You can find more details in the link above. The release is being audited right now, and devs will be at the next Community Governance call to discuss this further. Expect to see the on-chain proposal once the audit and build promotion process are complete.

Once USDC is live on mainnet, and assuming the governance proposal for Release 11 is passed, cLabs is planning to make a second proposal. If passed, this second proposal will add USDC as an approved Celo gas currency. Stay tuned for that! This promises to be huge for usability: it will enable users to be able to receive USDC in a wallet and start transacting right away, without having to get another token.

We’re also eager to support wallets and developers looking to integrate fee currency support in general and support for USDC specifically into their apps. Please just reach out!

– Subha

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USDC as gas currency will be extremely useful for onboarding new users to Celo Ecosystem and fulfills a strength of the Celo blockchain!

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