IUSDC(Orbit Bridge) → USDC(BSC Base)
Underutilized standard (Galapagos Syndrome)
Expensive fees when creating or converting ‘IUSDC’
Now We can use ‘ICON Bridge’ (1.5 USD or 4.3 ICX Fee / Fixed fee)
a path for large inflows of funds from external markets
I think we should focus on concentrating liquidity on BUSD/bnUSD pair. USDC on BSC is not native USDC. The technical name is Binance-Peg USDC and it’s a wrapped version of USDC that is maintained by Binance. Thus, it doesn’t have the advantages of native USDC, namely direct redemption by Circle. Furthermore, Binance recently removed USDC liquidity on their exchange – any stablecoin that is deposited is converted to BUSD (though USDC can still be selected for withdrawal). With this in mind, once ICON Bridge has proven itself a bit more post-audit, I’d be in favor of winding down IUSDC and maybe even USDS to concentrate non-bnUSD stablecoin liquidity into BUSD.
Yeah I’d agree here. And more generally speaking @SimSul let’s wait until the live-voting feature is deployed, which is coming this month (November). Once this is enabled, all BALN-incentive allocations will be voted on similar to ICON Validators - you vote for the pools you think are most valuable to bBALN holders and they receive the most BALN incentives. Also, there can be votes to set up new pools (i.e. BUSD/bnUSD).
