SATS price doubled in 10 days, how far can UniSat's support go?

How to determine which on-chain U is the official native asset of issuance, and how to determine its cross-chain bridge support?

Written by: CapitalismLab

Recently, it was discovered that USDT/USDC on FTM is issued by Multichain, which surprised many people. When using Crypto, the most important thing is to ensure the security of your assets. Therefore, it is very important to understand the chain where Crypto Assets are located and the cross-chain bridges officially supported by them. In this article, we will guide you on how to determine which on-chain U’s are the native assets of official issuance and how to determine their cross-chain bridges support. The following is the main content:

The USDT/USDC on FTM is actually made by Multichain? Many buddies found out that their own house collapsed while watching the excitement.

Just talk about how to know which on-chain U is the official issuance of the native asset, and how to know if it is supported by what cross-chain bridges, SAFU!

USDC: After entering the homepage of the official website, scroll down to the FAQs, and there is an explanation that USDC is native on 8 on-chain networks: Ethereum/Solana/Avalanche/TRON/Algorand/Stellar/Flow/Hedera, while it is a bridge asset on other on-chain networks.

Although USDC on Polygon has obtained official support from Circle and can be directly deposited and withdrawn from a Circle account, it is still bridged by Polygon’s official bridge rather than being native. However, the fact that Circle is willing to support it indicates a certain level of recognition for its security.

USDT: Under the Transparency page on the official website, all natively supported chains can be found. It can be noted that ‘Omni’ here is what OG has been frequently referring to as the so-called ancestor of BRC20 lately. USDT was initially issued on BTC/Omni.

If it’s not a native asset chain, then what is it supported by cross-chain bridges?

We can query through DeFillama, click on the Stablecoins TAB on the left, and then click on USDC to see which bridge supports USDC on each chain.

If you can’t find it on DeFillama, then you can only Google it, or look for information on a blockchain browser, such as FTMScan, which indicates that this USDC is supported by Multichain.

Of course, you will be surprised to find that the L2 U here are currently non-native. But don’t panic, L2 is based on XXXXXX technology, simply put, the bridged assets of these mainstream L2s are generally safer than L1, and you can take a simple look at their risks through l2beat.

Yes, I’m sure you understand that the complaints about the slow work of the OP team are not groundless after reading it.

In short, try to hold the native assets of mainstream chains. Otherwise, it will become: Not your keys, not your coins. But your coins are issued by Multichain!