Circle details next steps for users as USDC on Flow (Cadence) is discontinued.
Circle is discontinuing support for USDC on the Flow (Cadence) blockchain effective September 3, 2024 at 3 a.m. ET, due to the upcoming network upgrade. Minting on USDC on Flow will continue through August 27, 2024 at noon ET.
Circle Mint customers, retail USDC holders and non-Circle customers who hold USDC on Flow (Cadence) are highly encouraged to transfer from Flow to other blockchains ahead of the September 3, 2024 deadline.
On the September 3 deadline, Circle will freeze remaining USDC on Flow, take a snapshot of all USDC on Flow balances and process any remaining redemptions manually based on the snapshot. The manual redemption process will begin on September 4, 2024. To qualify, USDC on Flow holders must: meet Circle's compliance and security requirements; have USDC in a holder-controlled wallet; and, have a wallet address that is part of the USDC on Flow snapshot.
ACTIONS REQUIRED:
Circle Mint Customers
Circle will support Circle Mint customers’ transfer(s) of USDC from Flow to other blockchains until September 3, 2024 at 3 a.m. ET. To redeem USDC on Flow post deadline, users will need to begin the manual redemption process through Circle.
USDC Holders & Non-Circle Customers
As Circle only serves business and institutional customers, retail USDC holders and non-Circle customers should visit Flow’s website at https://flow.com/ to access swap options.
Dapper Wallet Users
We know that many USDC on Flow holders use Dapper. Users with USDC on Flow balances on Dapper should visit Dapper’s newsroom for details.
Post Deadline
Details to begin the redemption process will be available via Circle’s Help Center from September 4, 2024 to assist qualified Circle Mint Customers, USDC holders and non-Circle customers. Please refer to this blog and the Help Center to avoid any potential scams.
Looking Forward
We value our partnership with the Flow ecosystem and their users and will continue to find ways to support their ecosystem as part of our ongoing collaboration. Our commitment to growing USDC remains steadfast. We will continue to expand USDC’s reach to deliver the widest access, broadest developer choice and most secure user experience of any US dollar stablecoin in the world.
