New Pre-Mint Address for USDC on Solana

Ahead of mainnet launch for Cross-Chain Transfer Protocol (CCTP) on Solana on March 26, 2024, we’ve deployed a new pre-mint address to enable CCTP to programmatically mint USDC on Solana.

The new address is: FSxJ85FXVsXSr51SeWf9ciJWTcRnqKFSmBgRDeL3KyWw 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.

Fonctionnement

1. Pre-mint addresses have an existing balance of pre-minted USDC, which is not considered in circulation.
2. 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.
3. When a customer sends USDC to Circle to redeem for US dollars, Circle sends USDC to a pre-mint address, which means USDC in circulation goes down. This operation is analogous to a burn of USDC on an EVM blockchain.

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