Circle launches USDC and EURC faucets to support dev activity
Jeremy Allaire’s stablecoin operator now provides a depot of testnet tokens for blockchain builders to utilize when creating web3 tools and solutions.
Circle, the issuer of crypto’s second largest stablecoin, USD Coin (USDC), has released a faucet for its U.S. dollar-pegged token and its euro-denominated coin EURC in a move said to bootstrap innovation across a plethora of decentralized networks.
This faucet will allow developers to access test USDC and EURC, which can then be deployed on testnets. In this staging area, builders evaluate blockchain applications and hold dress rehearsals ahead of the main deployment.
1/ We’re excited to share the launch of Faucet, a fast and easy way for developers to access testnet $USDC and $EURC on all of our supported blockchain testing networks.https://t.co/CB8gUzrupy pic.twitter.com/JHphA99fNL
— Circle Developers (@BuildOnCircle) December 7, 2023
The testnet tokens are free and would be available on supported chains such as Ethereum, Algorand, Arbitrum, Avalanche, Base, Flow, Hedera, Near, Noble, Optimism, Polygon PoS, Solana, Stellar, Tron, and others.
Circle noted that users can leverage the faucet on every Ethereum Virtual Machine (EVM) and non-EVM testing network that supports USDC and EURC.
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Testnet tokens and faucets are an integral support system for blockchain builders when testing smart contracts, simulating how cryptocurrencies and stablecoins interact with decentralized applications (dapps). This tool could mark a milestone for the stablecoin operator toward enhancing stablecoin utility during the early stages of on-chain developments.
In other Circle news, the company published two open-source protocols to tackle crypto theft and illicit finance following allegations from U.S. policymakers about bad actors using USDC for criminal operations. Circle refuted the claims, as reported by crypto.news.
According to the company, the protocols include a recoverable token standard to enable reversible transactions. Circle also introduced the R-Pools initiative as an insurance fund for this new token type.