Stablecoins on Sui: A Comprehensive Guide

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Stablecoins are cryptocurrencies engineered to maintain a stable value, typically pegged to fiat currencies like the US dollar or a basket of assets. They serve critical roles in trading, lending, and as a hedge against market volatility.

Available Stablecoins on Sui

Sui supports a diverse range of stablecoins, including:

USDC: The Gold Standard

USDC is a fully regulated stablecoin backed 1:1 by US dollar reserves. Issued by Circle, it’s a trusted medium for transactions and decentralized finance (DeFi) applications.

👉 Get started with USDC

Key Features:

Move Code Example:

module usdc_usage::example;
use usdc::usdc::USDC;

public fun transfer_usdc(coin: Coin<USDC>, recipient: address) {
    transfer::public_transfer(coin, recipient);
}

USDT: Bridging to Sui

While USDT isn’t natively issued on Sui, users can bridge it via cross-chain protocols.

Note: Always verify liquidity pools before bridging.

How to Use USDC on Sui

Prerequisites

  1. Acquire USDC (Testnet tokens available via Circle’s faucet).
  2. Install Sui CLI and set up a wallet.

Step-by-Step Integration

  1. Add USDC to Your Move.toml:

    [dependencies]
usdc = { git = "https://github.com/circlefin/stablecoin-sui", subdir = "packages/usdc" }

  2. Deploy a PTB (Programmable Transaction Block):

    const usdcCoin = coinWithBalance({
  type: '0xa1ec7fc00a6f40...::usdc::USDC',
  balance: 1_000_000
});

👉 Advanced PTB strategies

FAQ

1. Is USDC on Sui audited?

Yes, USDC’s reserves are audited monthly by top-tier accounting firms.

2. Can I earn yield with stablecoins on Sui?

Absolutely! Platforms like Ondo Finance offer yield-generating products like USDY.

3. How do I bridge USDT to Sui?

Use Sui’s native bridging tools or third-party protocols like Wormhole.

Conclusion

Sui’s ecosystem provides robust support for stablecoins, enabling seamless DeFi operations. Whether you’re building dApps or executing cross-chain transfers, understanding these tools is essential for maximizing efficiency.

For further reading, explore Sui’s official documentation.

👉 Master Sui’s Coin standard