NOTE: This article is only applicable to existing investors that have received revenue distributions prior to November 1st, 2023 AND have a connected wallet in the Portfolio. If you started receiving distributions after this date, or if you never connected a wallet, there is no action required!
So.. What Happened?
As you may know, Circle, the creators of USDC, have created a new native USDC token on Polygon PoS. Polygon PoS is a scalable proof-of-stake (PoS) blockchain that complements Ethereum’s decentralized security with faster settlement times and greater cost efficiency.
Prior to this token going live, USDC on Polygon (that's what your distributions are in) existed in a "bridged" form, i.e. USDC that has been bridged from Ethereum.
USDC issued by Circle will be native to Polygon PoS and will be the official form of USDC. Over time, native USDC liquidity will grow and replace the bridged USDC liquidity that comes from Ethereum via the Polygon PoS Bridge.
In this set of articles, the new names of the tokens will be used, which are USDC for the new, native USDC, and USDC.e for bridged USDC.
With the technical jargon out of the way...
What Happens Now?
Starting with the potential November 2023 distributions, GigaStar will be using the USDC token as the form of payment, instead of USDC.e which was used up until the October 2023 distributions.
There are 2 important tasks that you need to take care of as an existing investor: