$USDC CCTP X anyCall
Cross-Chain Transfer Protocol (CCTP) is a permissionless on-chain utility that can burn native USDC on a source chain and mint native USDC of the same amount on a destination chain. Developers can embed CCTP into their apps to provide users with the most capital-efficient way to transfer USDC across chains, setting the stage for a united and mainstream Web3.
With anyCall, step 2 and 3 are handled by anyCall, your contract only needs to call step 1 and anyCall.
- 1. USDC is burned on the source chain: Using an app, a user initiates a transfer of USDC from one blockchain to another and specifies the recipient wallet address on the destination chain. The app facilitates a burn of the specified amount of USDC on the source chain.
- 2. A signed attestation is fetched from Circle: Circle observes and attests to the burn event on the source chain. The app requests the attestation from Circle, which provides authorization to mint the specified amount of USDC on the destination chain.
- 3. USDC is minted on the destination chain: The app uses the attestation to trigger the minting of USDC. The specified amount of USDC is minted on the destination chain and sent to the recipient wallet address.
CCTP natively is simply a fund transfer mechanism and it requires two txes to complete the bridging process. We have integrated CCTP with anyCall which is Multichain's cross-chain message protocol.
This means you are able to bridge the funds using CCTP and then do further contract interaction with anyCall. This allows:
- CCTP bridge in 1 tx
- Unlimited liquidity cross-chain swapping
- Cross-chain bridging to multi-addresses
- Bridge to multiple chains in one tx