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Overview

StateSet Commerce Network features native USDC integration, providing a fully reserved, dollar-backed stablecoin optimized for commerce transactions within the Cosmos ecosystem. This integration eliminates the need for custodial bridging and enables seamless, secure payments for orders, invoices, and other commerce operations.

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Native USDC on StateSet

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What is StateSet USDC?

StateSet USDC is native to the StateSet Commerce Network, which is part of the broader Cosmos/Interchain ecosystem. This provides a seamless and secure integration for commerce users, with no need for custodial bridging from other networks. Native USDC minting and redemption is done exclusively via StateSet Commerce Network.

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Key Features

  • Native Integration: USDC is native to StateSet Commerce Network, not bridged
  • Direct Minting/Redemption: Mint and redeem USDC directly on StateSet
  • No Custodial Risk: Eliminates additional trust assumptions from bridging
  • Commerce Optimized: Designed specifically for commerce use cases
  • IBC Compatible: Seamlessly transfer to other Cosmos chains

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Fee Structure

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Gas Fees

Gas fees in Cosmos are generally very low. On StateSet Commerce Network:

  • Average Transfer Cost: ~$0.01 USD
  • IBC Transfers: No additional fees for transfers to/from StateSet
  • Payment Currency: Fees are paid in USDC directly
  • No Gas Token Required: Unlike other blockchains, no separate gas token needed

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UX Advantages

The ability to pay fees in USDC unlocks significant user experience benefits:

  1. Single Currency: Users only need USDC, not multiple tokens
  2. Predictable Costs: Stable fee amounts in USD terms
  3. Simplified Onboarding: No need to acquire gas tokens
  4. Commerce-Friendly: Familiar dollar-based pricing

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Cross-Chain Capabilities

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IBC Transfers

StateSet USDC can be transferred seamlessly between IBC-enabled blockchains:

When USDC is transferred from StateSet Commerce Network to another appchain via IBC, it becomes IBC-transferred USDC on that appchain. StateSet uses packet-forwarding technology to ensure a consistent route for USDC among different IBC paths to/from StateSet Commerce Network.

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Cross-Chain Transfer Protocol (CCTP)

For non-IBC blockchains, StateSet USDC integrates with Circle’s CCTP:

  • Supported Networks: Ethereum, Arbitrum, Base, Avalanche
  • Non-Custodial: Direct native minting across chains
  • Seamless Integration: Easy transfers without wrapped tokens

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Benefits for Commerce

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1. Instant Settlement

  • Orders are paid and settled immediately on-chain
  • No waiting for traditional payment processing
  • Reduced counterparty risk

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2. Global Accessibility

  • Anyone with USDC can participate in commerce
  • No geographic restrictions
  • 24/7 availability

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3. Lower Transaction Costs

  • Minimal gas fees compared to credit card processing
  • No intermediary fees
  • Direct peer-to-peer transactions

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4. Transparency

  • All transactions verifiable on-chain
  • Real-time tracking of payments
  • Immutable transaction history

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5. Programmable Commerce

  • Smart contract integration for automated workflows
  • Conditional payments and escrow
  • Complex commerce logic on-chain

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Ecosystem Benefits

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For the Cosmos Ecosystem

StateSet USDC offers a fully reserved, dollar-backed stablecoin optimized for commerce within the Cosmos ecosystem. Its integration:

  • Enhances Liquidity: Provides stable liquidity for commerce operations
  • Enables Commerce: Facilitates B2B and B2C transactions
  • Removes Friction: No custodial bridging from other ecosystems
  • Improves Efficiency: Direct integration with IBC protocol

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For Merchants

  • Stable Pricing: Price products in familiar USD terms
  • Instant Payments: Receive payments immediately
  • Global Reach: Accept payments from anywhere
  • Lower Fees: Reduce payment processing costs

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For Customers

  • Simple Payments: Pay with USDC directly
  • No Currency Risk: Stable value pegged to USD
  • Fast Transactions: Near-instant payment confirmation
  • Transparent Costs: Clear fee structure

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Technical Implementation

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Order Payment Flow

// Example: Pay for an order with USDC
type PayOrderRequest struct {
    OrderID       string
    PaymentMethod PaymentMethod
    Amount        sdk.Coin // USDC amount
}

// Payment is processed atomically
func (k Keeper) PayOrder(ctx sdk.Context, req PayOrderRequest) error {
    // Validate order exists and is unpaid
    order := k.GetOrder(ctx, req.OrderID)
    if order.PaymentStatus == "PAID" {
        return errors.New("order already paid")
    }
    
    // Transfer USDC from customer to merchant
    err := k.bankKeeper.SendCoins(ctx, 
        customerAddr, 
        merchantAddr, 
        sdk.NewCoins(req.Amount))
    
    // Update order status atomically
    order.PaymentStatus = "PAID"
    order.Status = "PROCESSING"
    k.SetOrder(ctx, order)
    
    return nil
}

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Smart Contract Integration

StateSet Commerce Network smart contracts can:

  • Accept USDC payments directly
  • Implement escrow mechanisms
  • Create automated payment flows
  • Enable subscription payments
  • Process refunds automatically

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Bridged vs Native USDC

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Native USDC (StateSet)

  • ✅ No additional trust assumptions
  • ✅ Direct mint/redeem with Circle
  • ✅ Native to StateSet Commerce Network
  • ✅ Seamless IBC integration
  • ✅ Commerce-optimized features

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Bridged USDC (Other Solutions)

  • ❌ Additional custodial trust required
  • ❌ Dependent on bridge validators
  • ❌ Potential bridge risks
  • ❌ Added complexity
  • ❌ Higher fees

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Getting Started

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For Merchants

  1. Create a StateSet Account: Sign up at app.stateset.com
  2. Set Up USDC Wallet: Configure your merchant wallet address
  3. Integrate Payment API: Use our Pay Order endpoint
  4. Accept Payments: Start accepting USDC payments immediately

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For Developers

// Initialize StateSet client
const stateset = new StateSetClient({
  endpoint: 'https://api.stateset.network'
});

// Process a payment
const payment = await stateset.orders.pay({
  order_id: 'ord_123',
  payment_method: {
    type: 'usdc',
    wallet_address: 'cosmos1...',
    amount: {
      value: '99.99',
      denom: 'usdc'
    }
  }
});

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For Customers

  1. Get USDC: Acquire USDC on any supported platform
  2. Connect Wallet: Use any Cosmos-compatible wallet
  3. Make Payment: Pay for orders directly with USDC
  4. Track Transaction: Monitor payment on-chain

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API Endpoints

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Payment Endpoints

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Query Endpoints

  • GET /v1/balance/{address} - Check USDC balance
  • GET /v1/transactions/{address} - View transaction history
  • GET /v1/payments/{order_id} - Get payment details

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Security Considerations

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Best Practices

  1. Wallet Security: Use hardware wallets for large amounts
  2. Address Validation: Always verify recipient addresses
  3. Amount Verification: Double-check payment amounts
  4. Transaction Monitoring: Track all transactions on-chain

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Smart Contract Audits

  • All StateSet contracts are audited by leading security firms
  • Open-source code for transparency
  • Bug bounty program for continuous security

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Support and Resources

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Documentation

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Community

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Technical Support

  • Email: support@stateset.com
  • Developer Forum: forum.stateset.com
  • Office Hours: Weekly developer calls

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Conclusion

StateSet USDC represents the future of commerce payments on blockchain. By providing native USDC integration optimized for commerce use cases, StateSet Commerce Network enables fast, secure, and cost-effective transactions for businesses worldwide. Whether you’re a merchant looking to accept stable payments or a developer building the next generation of commerce applications, StateSet USDC provides the infrastructure you need to succeed.