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1. TL;DR

Proposing to Whitelist the token pair [USDC-INIT] for Enshrined Liquidity.

2. Background

2-1. Token Pair Info & Context:

• Token Name / Symbol: [USDC]
• LP Pair: [USDC-INIT]
• Pool Type: Weighted pool (Balancer)
• Pool Parameters:
  • Weights: USDC 20%, INIT 80%
  • Swap fee: 0.3%

2-2. Token Details

• Name: [USD coin]
• Symbol: [USDC]
• Origin Chain: Noble
• Contract Address: uusdc
• Total Supply Cap: N/A (Minted on demand by Circle)
• Circulating Supply: ~504.87M (as of April 2025)
• Token Type: Stablecoin
• Upgradability: Yes — Contract can be paused/upgraded by Circle-controlled multisig.
• Control: Multisig
• Contract Verified? Yes
• Special Mechanics: Centralized Mint/Burn tied to fiat reserves
• Bridge Used: IBC (noble-1, channel-129)
  • only include this field if the token to-be-whitelisted is a bridged token

3. Proposed Parameters

4. Rationale & Impact

Explain why this token should be added/removed or why parameters should be adjusted:

• Whitelisting USDC-INIT will incentivize deeper liquidity for INIT in a stablecoin pair, enhancing trading efficiency and reducing slippage for users.