ChainSwap: Defy Limits, Embrace Anonymity
  • Introduction
  • Near Instant Cross-Chain Swaps
    • ChainSwap's Cross Chain Swap Architecture
      • Autonomous Refunds for Failed Transfers
    • ChainLink's CCIP
    • Circle's CCTP
  • Intra-Chain Swaps and Future Multi-Chain DEX
  • Multi-Chain Telegram Bots
    • Solana Chainbot
      • Setup
      • Solana Settings
      • Trading
      • Sniping Pump.fun, Pump.fun Migrations and Direct Raydium Listings
      • Viewing Trades and Tokens
      • Referral Bonus and Share Your Wins!
    • EVM Chainbot (Coming Soon)
      • Setup
      • Settings
      • Trading
      • Viewing Trades and Tokens
      • Referral Bonus and Share Your Wins!
    • Video Tutorials
      • Setup and Wallet Management
      • Settings
      • Contract View
      • Buy and Sell Swaps
      • Limit Orders
      • DCA Orders
      • Cross Chain Swaps
      • Monitoring Trades
      • Referral Bonus and Share your Wins
      • Pump.fun Sniping, Migration Sniping, and Direct Raydium Listing Snipes
  • Coming Soon: ChainSafe
  • Coming Soon: Privacy Swaps
  • ChainSwap Token ($CSWAP)
  • Roadmap
  • Links
  • Contact the Team
  • Disclaimers and Disclosures
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  1. Near Instant Cross-Chain Swaps

Circle's CCTP

Cross Chain Transfer Protocol

PreviousChainLink's CCIPNextIntra-Chain Swaps and Future Multi-Chain DEX

Last updated 11 months ago

Circle's Cross-Chain Transfer Protocol (CCTP) is a permissionless on-chain utility designed to facilitate the secure and efficient transfer of USDC between different blockchain networks.

ChainSwap utilizes CCTP to allow for native interoperability for USDC using a burn and mint mechanism. This means when you transfer USDC using CCTP a certain amount of USDC is burned on the sending chain, while a corresponding amount is minted on the destination chain. Circle acts as a validator in this process, ensuring the burned USDC is not re-used. CCTP offers several advantages like enhanced security and avoids the risks associated with traditional bridge hacks where funds are locked on a central entity. It also is an efficient medium to simplify transactions and lead to faster processing times in a cost efficient manner. This also allows for simulations and less slippage to occur on swaps as USDC value remains relatively constant.

To Explore this Protocol More

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