Context

Symbiosis uses the USDC.e token on Avalanche to enable cross-chain operations for that blockchain. The USDC.e stablecoin type is slightly outdated.

Proposal

Switch Symbiosis to the latest version of the USDC token on Avalanche. The switch includes:

• Add support for the new token in Symbiosis contracts.
• Start to route transactions through the new USDC token.
• Switch cross-chain farming scheme for Avalanche.
• Remove support for the outdated token in Symbiosis contracts.

Key Points

• New token usage will provide better rates for cross-chain operations.
• The token switch process has been done before for another supported blockchain and went smoothly.