Michele from Harmonic Labs has been working on a CIP standard to create ERC20 like tokens on Cardano.

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As ERC20 tokens behave differently to how tokens do on Cardano, we need a different method of having them implemented without changing Cardano underlying structure. This CIP created and demonstrated by Michele in collaboration with Matteo from Fluid Tokens is a proof of concept to the development required on the Cardano side to implement tokens such as USDC and USDT which both have the ability to clawback and freeze assets on chain in a users wallet.

Now that we have a technical implementation of what is needed, what else is needed? What comes next to see USDC on Cardano?

Timestamps
00:00 Intro
00:34 ERC20-like token
01:23 Matteo from Fluid Tokens
02:20 Flow of freezing assets
03:01 What's next? Leave a comment

I am aware that there have been further conversations around the implementation requirements, analysis of bridge USDC and other stablecoins to spark the interest of companies like Circle to come in and implement USDC. We are in a chicken before the egg scenario. We need USDC or USDT to bring in more liquidity, but we need liquidity to have USDC or USDT.

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*** None of the information on this episode is to be considered as financial advice. All conversations and opinions are that of the guests and are intended for educational and entertainment purposes only. Please do your own research and understand that cryptocurrencies are volatile and risky. [ Ссылка ]
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