How does MakerDAO's stablecoin USDC work?

Azim0ntDec 18, 2021 · 3 years ago1 answers

Can you explain how MakerDAO's stablecoin USDC works in detail?

How does MakerDAO's stablecoin USDC work?

1 answers

Dec 18, 2021 · 3 years ago
USDC is a stablecoin created by Circle and Coinbase, two well-known companies in the cryptocurrency industry. It is regulated and audited on a monthly basis to ensure transparency and trust. USDC operates on the Ethereum blockchain, which provides security and immutability. The value of USDC is pegged to the US dollar, making it a reliable store of value and medium of exchange in the cryptocurrency market. Users can easily convert their USDC to other cryptocurrencies or fiat currencies on various exchanges.

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