1GDvP2e9EWokkZaEDxd7YJUAeBTpTmFT94 (8096) ·
Where can I go to read about the USDC token on Bitcoin...?
I remember hearing about it months ago, but I don’t understand the details.
Anyone have a link to a good explanation of the work being done?
Replies
1D3XuAXjEUfPEVppJH8M64rA7zWJmMcxzg (1930) ·
relay x wallet
1GDvP2e9EWokkZaEDxd7YJUAeBTpTmFT94 (8096) ·
I’ve got it, and I use it for a separate Twetch account.
/pay @1608 $0.25
Here’s a little something in hopes that you’ll explain more. 🤞
1D3XuAXjEUfPEVppJH8M64rA7zWJmMcxzg (1930) ·
I'm not a big user of RelayX
perhaps someone else can help lead you...
@910 ? @255 ?
129qvLhapgws84u5h1jL272KS6tLFkKWyR (3667) ·
https://relayx.medium.com/usd-coin-comes-to-bitcoin-sv-introducing-wrapped-usdc-by-relayx-fa67e26f15b1
:)
1GDvP2e9EWokkZaEDxd7YJUAeBTpTmFT94 (8096) ·
Thank you, River! 🙏
From my reading, it seems as though the USDC is still an erc20 token.
That’s what I was trying to avoid. I don’t want to store any of it an an ETH wallet. I’ll keep researching and paying attention. Who knows what the future holds...
129qvLhapgws84u5h1jL272KS6tLFkKWyR (3667) ·
It is "backed" by the ERC token yes, but the token itself is a wrapped version on BSV.
But obviously hopefully down the road we will have something more native ;)
1GDvP2e9EWokkZaEDxd7YJUAeBTpTmFT94 (8096) ·
See, River...
This is where I’m lost. Thank you for saying that.
If I was to go onto RelayX, and swap a bit of Bitcoin for USDC, where would I store it, if it’s not erc20...?
Am I missing something?
Will Relay’s wallet hold the wrapped USDC?
1HCtG4in4yscc5FsEWyREKNk2dmj9LgMHE (523) ·
The USDC that runs on BSV is stored in your RelayX wallet. I wrote about it here:
https://coingeek.com/relay-and-run-bring-first-stablecoin-to-bitcoin-sv/
129qvLhapgws84u5h1jL272KS6tLFkKWyR (3667) ·
Exactly! Thanks Joshua :)
1852fCtsS7Zzz8R7u41q5pBeDqtDP9uUXr (6483) ·
Ayup River,I don't understand! an ERC token is an ETH token right? So I',m wondering how one can stay in the Bitcoin ecosystem if one has an ERC/ETH token?
129qvLhapgws84u5h1jL272KS6tLFkKWyR (3667) ·
It’s tokenised on BSV
1GDvP2e9EWokkZaEDxd7YJUAeBTpTmFT94 (8096) ·
Thank you, sir!
1MxNk5FHWeUX91vaS7AmuY2uNr7a2juRcr (2223) ·
Can Relay developers access sending USDC programmatically yet?
1HCtG4in4yscc5FsEWyREKNk2dmj9LgMHE (523) ·
No. It is disabled @2520 @255
1MxNk5FHWeUX91vaS7AmuY2uNr7a2juRcr (2223) ·
@#BLACK2520 pretty please!
1L4RWaXx93KZoe1sbLpN4YMhD7PXhVw5kd (1933) ·
Soon(ish)
1ENXqWtbCLCMFFeyDREdEGW89nBecFxWMd (3493) ·
U want to sell your #BSV for USD-equivalent (to elim. volatility?)
@18754 goes & buys USDC ERC-tokens
But issues you USDC (RUN SV) tokens
U own BSV-based tokens
Relay owns USDC to back your BSV tokens 1:1
USDC tracks USD (if USDC ERC stays solvent)
1GDvP2e9EWokkZaEDxd7YJUAeBTpTmFT94 (8096) ·
THIS is the explanation I needed. Thank you, brother! 🙏
1852fCtsS7Zzz8R7u41q5pBeDqtDP9uUXr (6483) ·
Thanks for the clarification, John... I can’t see the point of it all to be honest? it's not looking like BSV is that volatile just yet. Also there's the solvency issue as you've kindly pointed out. I'm thinking ETH hasn’t got much legs left...
1CZ1ymoMdVauybevLc3D7Ns1W7Zdhi267P (2937) ·
I don’t fully understand this