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- Burnt has launched the XION testnet, a Layer-1 blockchain, and has received a strategic investment from Circle Ventures, with XION being the first blockchain to use USDC as the primary transaction currency.
More USDC Adoptions…
Burnt, a Web3 foundry, has officially unveiled the public testnet for its Layer-1 blockchain, XION. The announcement also includes a strategic investment from Circle Ventures, the venture capital arm of Circle, and publisher of USDC.
Notably, XION will become the first blockchain to use USDC as the primary transaction currency, eliminating a significant technical hurdle as all XION-based applications will display prices in USDC. Furthermore, XION transactions will be gas-free, streamlining the user experience.
1/ Burnt officially announces its strategic investment from @circle_ventures as it launches the XION public testnet.
XION is the first layer one blockchain to integrate USDC into the infrastructure stack, enabling true mainstream consumer adoption.https://t.co/40OASFpPGy
— Burnt (XION)🔥 (@burnt_xion) October 5, 2023
XION already has more than 200,000 active on-chain wallets, more than 2,000,000 blocks produced and more than 1,000,000 seamless on-chain transactions, reaffirming its technical prowess. With a focus on tangible use cases such as communities, membership, loyalty programs and games, XION aims to revolutionize the digital asset landscape.
“Our long-term vision for XION is to enable easy-to-use applications that leverage the power of Web3 without the complexity typically associated with blockchains,” said Burnt Banksy, CEO of Burnt.
Burnt also revealed its plan to collect fees generated by USDC, convert it into a native token and distribute it to validators, combining the convenience of stablecoin with Proof-of-Stake security.