Native USDC Launches on Sonic with CCTP V2 Integration
Native USDC Launches on Sonic with CCTP V2 Integration
🚀 USDC Gets Sonic Speed
Circle has launched native USDC support on Sonic, marking the stablecoin's expansion to its 20th blockchain network. Key features include:
- Automatic upgrade of bridged USDC to native USDC
- Direct 1:1 USD/USDC minting for Circle Mint customers
- CCTP V2 integration enabling rapid cross-chain transfers with smart contract hooks
Major partners at launch include Aave, Binance, and Redot Pay. The integration brings institutional-grade stablecoin infrastructure to Sonic's ecosystem, enhancing DeFi capabilities and cross-chain liquidity.
Welcome to Sonic @circle! The fastest chain just got a lot more powerful. Native USDC is here! Let’s goooo!
Native @USDC is now live on @SonicLabs! With the bridged-to-native upgrade now complete, Sonic developers and users gain the stability of the world’s leading regulated stablecoin, alongside CCTP V2 for frictionless access to crosschain liquidity. circle.com/blog/now-live-… ✅
StabilityDAO Raises xSTBL Exit Fee from 50% to 80%
**StabilityDAO** has implemented **SIP-1**, increasing the instant exit fee for xSTBL tokens from **50% to 80%**. **Key Changes:** - Parameter: xSTBL instant exit fee - Old value: 50% - New value: 80% **Strategic Goals:** - Reduce instant exits from the protocol - Increase PvP rewards for remaining participants - Better position xSTBL as an incentive mechanism The proposal passed through governance and aims to **strengthen the protocol's tokenomics** by discouraging quick exits while rewarding long-term participants. [View full proposal](https://snapshot.box/#/s:stabilitydao.eth/proposal/0x75548f5ec7919b5f21a7027f420907366068574438c0c9fd57359188bb0f9d5e)
🏛️ Stability DAO Launches
**Stability DAO** has officially launched with a governance model based on staking mechanics. **Key Features:** - 1 STBL_DAO token = 1 staked xSTBL (minimum 4,000 voting power required) - **Revenue distribution**: 80% to xSTBL stakers, 20% to recovery system - Governance via snapshot proposals for protocol management - Cross-chain voting power distribution for MetaVault allocations The DAO enables decentralized governance over the protocol's development and tokenomics through incentivized voting mechanisms. [Learn more](https://stabilitydao.gitbook.io/stability/stability-dao/governance) | [Vote on Snapshot](https://snapshot.box/#/s:stabilitydao.eth)
Stability DAO Recovery Update
**Stability DAO provides recovery update** following Credix exposure incident in MetaVaults affecting $7.3M across multiple tokens. **Recovery Progress:** - Recovery tokens distributed âś“ - Recovery pools created âś“ - Large pool distributions completed - Small pools still pending **Key Details:** - 1:1 recovery token ratio for affected MetaVault tokens - Only balances >$50 qualified for recovery tokens - Small balances already compensated - Automatic buybacks enabled within one week **Next Steps:** - Direct compensation begins when pools reach 1:1 price - Users must verify addresses in [documentation](https://stabilitydao.gitbook.io/stability/risks/accident1#affected-protocols-users) - Check REC* token balances on Shadow **Missing from lists?** Create Discord ticket with: address :: protocol :: vault :: amount :: tx hash Stability DAO commits 20% of platform income to compensation fund until full repayment achieved.
Stability Farm Season 1 Silo Points Claim Now Live
**Season 1 Silo Points claiming is now active** on Stability Farm's platform. Users can access their **wS claims through the Leaderboard section** at [stability.farm/leaderboard](https://stability.farm/leaderboard). This follows the platform's recent launch of leveraged farming opportunities, including: - **17x leverage capabilities** - Sonic AP multiplier at **x139.2** - Leveraged Silo Points multiplier at **x25.6** **Action required:** Visit the leaderboard to claim your Season 1 rewards.
Stability Metavaults Exploit Update: Funds Recoverable via Credix
Stability has confirmed their Metavaults were impacted by an exploit at Credix, not due to any vulnerability in Stability's own smart contracts. Key points: - Main platform remains secure and operational - Credix team confirms affected funds are recoverable - Recovery process actively underway - Regular updates promised via social channels *The rest of Stability's infrastructure continues to function normally while the team works with Credix on fund recovery.*