Core-eval heads-up: registering USDC.inj on Agoric mainnet (first step in the move off Noble)
This signaling proposal marks the start of a ten-day community discussion period.
The core-eval goes to an on-chain vote after that period closes.
TL;DR: Agoric Engineering is proposing a core-eval to register USDC.inj as a public IBC asset on Agoric mainnet. This is a step toward migrating our USDC-via-IBC provider from Noble to Injective.
Circle, the steward of USDC, has already rolled out CCTPv2. CCTPv1 is deprecated and winds down over the coming months. Noble’s USDC-via-IBC integration depends on CCTPv1, and rather than moving to CCTPv2, the Noble chain is planning to shut down.
Injective supports CCTPv2. Agoric Engineering is already working with the Injective team to make sure their USDC-via-IBC implementation fully supports Agoric Orchestration, so Ymax can make a smooth transition from USDC.n to USDC.inj.
This core-eval exposes the USDC.inj IBC asset on Agoric mainnet to facilitate development and alpha-testing of the required Orchestration features. Outside of voting on the proposal when it reaches chain, there is no validator coordination needed. It executes fully in the Agoric VM with no platform software upgrade.
Why now
Circle has published a concrete wind-down schedule for Noble (Circle’s announcement). New USDC minting on Noble through Circle Mint stopped October 13, 2026. CCTPv1 burn limits start dropping toward zero on October 31. On January 12, 2027, Noble’s USDC contract and CCTP routes are fully paused. Any integration that still routes through Noble stops working on that date.
Ymax and other Orchestration flows on Agoric currently move USDC through Noble. Getting USDC.inj live on mainnet now gives us the runway to build, test, and harden the Injective path well before the January cutoff, instead of racing it.
What the core-eval actually does
The proposal is small and narrowly scoped. It registers a single interchain asset:
- Denom:
ibc/A7BE5E1F50DE0393383EC287BDD0FDAA9B546736F7511F8E494ECB05533DAAE8 - Issuer name:
USDC.inj - Decimal places: 6
On execution, it publishes a USDC.inj brand and issuer to agoricNames, registers the denom with the bank manager (vbank) so the asset can move between Cosmos accounts and the Agoric VM, and publishes the records to the board and vstorage so wallets and dapps can discover it. It uses the existing mintHolder installation already on chain, the same mechanism used for previously registered IBC assets.
It does not touch USDC.n, Ymax, or any existing contract, balance, or parameter. It is purely additive.
What it does not do
This is not the migration itself. Nothing is being moved, and no user funds are affected. Ymax continues to run on USDC.n for now. The actual cutover to Injective will come as separate work, with its own proposals and its own community discussion, once the Orchestration features have been tested against the live asset.
The ask
Nothing to vote on yet. Use the ten-day discussion period to read through this signaling proposal, ask questions, request more detail, or flag concerns in this thread. The core-eval bundle, permit, and script will be published alongside the on-chain proposal so anyone can verify that what executes matches what is described here. Once the discussion period closes, the core-eval goes to an on-chain vote, and that is where your vote counts.
Disclosure: I am part of the DCF team, posting this on behalf of Agoric Engineering