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FAQ's & Resources
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FAQ's about the Avalanche C-Chain Network AVAX:
Avalanche is a Smart Contract Platform, a platform of platforms, and a Multi-chain network. It leverages the Avalanche Consensus protocol in combination with a Proof-Of-Stake (PoS) mechanism to protect the network against Sybil attacks.
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Wrapped AVAX or WAVAX, is a token that represents AVAX 1:1 and conforms to the ARC20 token standard. By conforming to ERC20, it allows for increased functionality across any application that handles ERC20 tokens. You can always convert your WAVAX to AVAX 1:1 and vice versa.
In order to use AVAX on the Ethereum network, you will first need to wrap it, turning it into wAVAX, before sending it across the Avalanche Bridge.
FAQ's about the Avalanche C-Chain Network and USDC aUSDC.e AVAX:
USDC.e and USDC represent in essence the same currency, Circle’s stablecoin USDC. The difference between the two representations on the Avalanche network is the fact that USDC.e is the wrapped version of USDC bridged from the Ethereum network to Avalanche C Chain via the Avalanche bridge, while the USDC is issued directly on Avalanche by Circle, making USDC the native USDC on the network. This implies that Circle’s customers can mint native avalanche USDC directly from a Circle account.
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Worthy of note, USDC.e and USDC although represent the same assets, technically they are not the same, therefore you cannot send USDC.e to a USDC address or smart contract. USDC.e is also not supported by Circle’s products, circle deposit address and Circle APIs.
Both USDC.e and USDC are used by different protocols on the network, therefore, people might need to exchange one for another depending on which protocol they indent to use. See below for how to exchange one for another.
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Similar to the USDC case, USDT.e and USDT are both representations of the same stablecoin pegged to the USD.
The difference between the two representations is that USDT is the native token of Tether’s USDT on Avalanche Blockchain, while USDT.e is the wrapped version of USDT on Avalanche Blockchain bridged from Ethereum Network.
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USDT and USDT.e are still used by different protocols within the Avalanche Ecosystem, therefore depending on the protocol users might need to use USDT, while for some other platforms users need USDT.e
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When it comes to sending and receiving USDT and USDT.e to or from Centralized exchanges, someone has to do proper due diligence and ensure it uses the right representation of USDT to avoid unnecessary loss of funds.