Ahead of mainnet launch for CCTP V2 on Solana, Circle has deployed a new pre-mint address to enable CCTP V2 to programmatically mint USDC on Solana
Ahead of mainnet launch for CCTP V2 on Solana, Circle has deployed a new pre-mint address to enable CCTP to programmatically mint USDC on Solana. The new address is: 6xTBTqJMBr5m7BKqVxmW2x11DfqUwtD3TJsqpxELx72L and the full list of pre-mint addresses are contained within our GitHub repo. For exchanges and websites that track USDC in circulation for Solana, you can continue to use our public API as normal – no action is required.
NOTE: DO NOT ATTEMPT TO SEND USDC TO A PRE-MINT ADDRESS AS IT WILL RESULT IN A LOSS OF FUNDS. PRE-MINT ADDRESSES ARE ONLY INTENDED FOR USE BY CIRCLE.
Pre-minting Details
On some non-EVM blockchains like Solana, Circle uses the concept of pre-minting to create and hold a balance of USDC before it goes into circulation. This is made possible by pre-mint addresses, which hold USDC that is not considered part of the circulating supply until Circle officially authorizes a mint.
How it works:
- Pre-mint addresses have an existing balance of pre-minted USDC, which is not included in the total amount in circulation.
- When a customer sends US dollars to Circle to mint USDC, Circle authorizes a pre-mint address to send USDC to the customer’s Circle Mint account, which means USDC in circulation goes up.
- When a customer sends USDC to Circle to redeem for US dollars, Circle sends USDC to a pre-mint address, which means the amount of USDC in circulation goes down. This operation is analogous to a burn of USDC on an EVM blockchain.
For any questions or help getting started with CCTP V2 on Solana, join the conversation in our Discord.
