Migrating To Native USDC on Injective

Summary

1. Identify which token you hold (USDCnb vs USDT). The denom tells you everything.
2. Small amounts → Path A: trade on www.helixapp.com or use the widget at http://injective.com/usdc. ~30 seconds, ~zero gas, negligible spread on a stablecoin pair.
3. Large amounts → Path B: route through another chain to dodge orderbook slippage entirely, then CCTP the result back to Injective as native USDC.
   • For Noble USDC: IBC back to Noble, then CCTP to Injective.
   • For Peggy USDT: reverse Peggy bridge to Ethereum, swap on Curve, CCTP to Injective.

Identify which stablecoin you have

Before doing anything, confirm the denom of the asset in your wallet. Several USDC- and USDT shaped tokens exist on Injective and they migrate via different paths.

If you can’t tell from your wallet, paste your address into injscan.com, and check “Balances.”

Click on the coin, and check the denom.

Pick a path based on the size you’re migrating

Use the widget

For truly small amounts, you can use the widget at http://injective.com/usdc to swap from one token to another.

1) Navigate to the widget

Go to http://injective.com/usdc.

2) Connect wallet

Click Connect Wallet in the top right and pick the wallet that holds your token.

3) Choose your source token

Select either USDT or USDCnb, and enter an amount.

4) Confirm in your wallet

Click the Swap button and confirm the transaction in your wallet. You now hold native USDC on Injective.

Trading on Helix

Works for both USDCnb and Peggy USDT – same flow, you just pick the corresponding spot pair.

Time: ~30 seconds. Cost: 5 bps spot trading fee. Slippage: near-zero on a stablecoin pair, but check book depth before sending a large clip.

1) Open the right market on Helix

Go to helixapp.com and use the market search:

• Holding Noble USDC ****→ pick the USDC/USDCnb spot pair.
• Holding Peggy USDT → pick the USDC/USDT spot pair.

2) Connect wallet

Click Connect Wallet in the top right and pick the wallet that holds your token.

3) Place a market buy

1. Select the Buy side.
2. Switch order type to Market.
3. Enter the amount or hit 100% to convert your full balance.
4. Verify the estimated USDC out – on a stablecoin pair, expect ~1:1.
5. Click Buy.

4) Confirm in your wallet

Approve the message in your wallet’s signing prompt. That’s it. You now hold native USDC on Injective.

Migrating via bridge

When your size is too large for the Helix orderbook, route through a chain with deeper stablecoin liquidity. The exact route depends on which token you hold:

• Noble USDC → IBC back to Noble + CCTP to Injective.
• Peggy USDT → Peggy bridge to Ethereum, swap USDT → USDC on Curve, then CCTP back to Injective.

Noble USDC

Time: ~5 minutes. Cost: trivial gas on Injective + a small fee on ETH for CCTP gas costs. Slippage: zero – there is no AMM swap on this path. USDCnb on Injective is the IBC-bridged form of native USDC on Noble; you’re just unwrapping it and re-routing it back through Circle’s mint mechanism.

1) Bridge from Injective to Ethereum, via Noble

Using go.skip.build, connect your Injective wallet.

• Source chain: Injective
• Source asset: USDC (Noble USDC)
• Destination chain: Ethereum
• Destination asset: USDC

2) Sign the transfer

Enter the amount (or Max), then click the Settings button. After verifying the route takes one hop from Injective to Noble via IBC, then goes from Noble to Ethereum via CCTP, click the Send button. You’ll sign up to two messages.

3) Wait for the funds to arrive on Ethereum

Once the IBC leg lands on Noble, and the CCTP burn happens on Noble, Circle’s attestation service signs the transfer and your funds arrive on Ethereum.

4) CCTP the funds back to Injective

Go to bridge.injective.network/cctp, choose Ethereum as the source chain and Injective as the destination chain. Click Bridge USDC and confirm your wallet transactions on the source chain as well as the destination chain.

Peggy USDT

Time: ~5 minutes. Cost: bridging fee deducted from transaction on Injective, Ethereum gas for Balancer swap + CCTP burn. Slippage: near-zero on Balancer for any reasonable size.

1) Peggy bridge from Injective to Ethereum

Open bridge.injective.network

1. Source: Injective.
2. Destination: Ethereum.
3. Asset: USDT.
4. Enter the amount and click Bridge.
5. Sign the Injective-side message.

2) Swap USDT → USDC on Balancer/Curve

You now have ERC-20 USDT on Ethereum. Swap to USDC on Curve.

1. Open curve.finance and connect your Ethereum wallet.
2. Set USDT as the source token and USDC as the destination token.
3. Enter the amount.
4. Approve the USDT spend, and confirm the swap.

3) CCTP USDC from Ethereum to Injective

Go to bridge.injective.network/cctp, choose Ethereum as the source chain and Injective as the destination chain. Click Bridge USDC and confirm your wallet transactions on the source chain as well as the destination chain.