Moonwell is breaking new ground with the launch of "USDC Anywhere", a pioneering new feature that will redefine how you interact with the onchain economy. Powered by Circle’s CCTP and Socket, USDC Anywhere lets you do more with what you already have.

With USDC Anywhere, lending USDC to Moonwell from the top Ethereum networks is a breeze, allowing you to start building your tomorrow in a matter of minutes. And it doesn't stop there—borrowing USDC to explore the latest onchain apps, games, and NFT marketplaces on networks like Arbitrum, Optimism, Polygon, and Avalanche can now be done with a few simple clicks or taps. Welcome to a new era of onchain finance, where leveraging your USDC across the Ethereum ecosystem is easy, fast, and secure.

USDC Anywhere - At a Glance

• Simplified Lending: Effortlessly lend your USDC to Moonwell from the top Ethereum networks. Behind the scenes, Circle’s CCTP transparently handles the asset transfer to Base, ensuring a smooth user experience.

• Cross-Chain Borrowing: Leverage your crypto on Moonwell to borrow and send USDC across the Ethereum ecosystem. Easily participate in onchain apps, experiences, and marketplaces on networks you’ve never visited before.

• Secure: Powered by Circle’s CCTP (Cross-Chain Transfer Protocol), the official solution for cross-chain transfers of USDC, this feature eliminates most security risks associated with bridges. CCTP facilitates secure USDC transfers via native minting.

• Autodetection: The Moonwell application automatically detects USDC in your wallet on Arbitrum, Avalanche, Base, Ethereum, Optimism, and Polygon, eliminating the need to manually bridge.

• Refuel: USDC Anywhere utilizes Socket's innovative "Refuel" technology, ensuring that you will have enough gas to transact as soon as your funds arrive on a new network.

Cross-Chain Lending: Build Your Tomorrow

USDC Anywhere empowers you to lend USDC to Moonwell from many of the leading blockchain networks and begin building your tomorrow through the power of compound interest. The Moonwell app, with its sleek new design, automatically detects USDC held on various networks. The transfer process, facilitated by Circle’s CCTP, ensures that your assets are moved securely and efficiently to Moonwell, allowing you to participate in the onchain economy with confidence.

A few clicks are all it takes to lend USDC on Moonwell, setting the stage for you to earn interest from borrowers and receive additional protocol rewards in both WELL and USDC.

At the core of USDC Anywhere lies Base, an Ethereum Layer 2 network operated by Coinbase. Base serves as the liquidity hub for this feature, marrying the robust security of Ethereum mainnet with the affordability and agility of modern Layer 2 solutions. Coinbase has also made it easy to acquire USDC on their central exchange, offering free transfers to and from Base and free conversions to USD.

Cross-Chain Borrowing: Experience New Worlds

With USDC Anywhere, your supplied assets on Moonwell are a ticket to new onchain experiences. Borrowing against your crypto and sending USDC to the top blockchain networks is now a breeze, opening the door for you to easily access the latest apps, no matter where they reside. Whether exploring a new web3 game like Parallel, checking out the latest NFT collection, or apeing into a new meme coin, cross-chain borrowing with USDC Anywhere makes it easier than ever.

Support for Socket's "Refuel" technology ensures that you will have the gas tokens you need to hit the ground running on a new network, removing another barrier to onchain exploration. Moonwell’s in-app notifications mean that you’ll never lose track of your transfers in progress.

CCTP: Connecting Networks Securely

Circle's Cross-Chain Transfer Protocol (CCTP) represents a significant advancement in decentralized networking, reminiscent of the TCP/IP Protocol that connected disparate networks and laid the foundations of the Internet as we know it today.

Unlike traditional "lock and mint" bridges, CCTP employs a cutting-edge "burn and mint" architecture, ensuring your assets remain in your control, not held long-term in a bridge smart contract. This approach isn’t just more secure; it also provides natively minted USDC on your preferred destination network, as opposed to an unofficial, wrapped version. With CCTP, you're not just transferring value, you're navigating across networks with the utmost confidence.

Stepping Into a New Era of Onchain Finance

Aligned with the Moonwell community’s mission to develop simple to use, yet powerful financial tools, USDC Anywhere marks a significant step towards a future where managing and growing a crypto portfolio is accessible to everyone. By leveraging Circle’s CCTP, this new feature stands as a testament to the shift from traditional trust-based models to more secure, trustless frameworks. Moonwell is at the forefront of this evolution, paving the way to an onchain financial landscape that is safe, intuitive, and open to all.