Cross-Chain Transfer Protocol (CCTP) product
Overview
Cross-Chain Transfer Protocol (CCTP) is a permissionless on-chain utility by Circle for transferring USDC between supported blockchains. It uses a burn-and-mint mechanism: USDC is burned on the source chain and minted on the destination chain, eliminating the need for liquidity pools. CCTP is designed to maintain 1:1 parity of USDC across chains.
Within the DeFi Intel graph, Cross-Chain Transfer Protocol (CCTP) connects to 2 tracked entities, most strongly to Circle, Cross-Chain Transfer Protocol V2 (CCTP V2).
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
developed_by | Circle | 95% |
replaced_by | Cross-Chain Transfer Protocol V2 (CCTP V2) | 95% |
Frequently asked questions
What is Cross-Chain Transfer Protocol (CCTP)?
Cross-Chain Transfer Protocol (CCTP) is a permissionless on-chain utility by Circle for transferring USDC between supported blockchains using a burn-and-mint mechanism.
How does CCTP transfer USDC across chains?
CCTP uses a burn-and-mint mechanism: USDC is burned on the source chain and minted on the destination chain, eliminating the need for liquidity pools.
What replaced Cross-Chain Transfer Protocol (CCTP)?
Cross-Chain Transfer Protocol (CCTP) was replaced by Cross-Chain Transfer Protocol V2 (CCTP V2).