Migrate Community Pool USDC.n to USDC.inj via a Community Multisig

Summary The Cosmos Hub community pool holds 566,067.055810 USDC.n (Noble-issued USDC). Circle pauses the Noble USDC contract and all Cross-Chain Transfer Protocol (CCTP) routes to and from Noble on January 12, 2027. This proposal sends the full USDC.n balance of the community pool to a 4-of-6 DAODAO multisig composed of six Cosmos community members and validators to migrate to USDC.inj (Injective-issued USDC). The multisig will migrate the funds to USDC.inj and return the USDC.inj to the community pool. The multisig holds the funds for the duration of the migration only and has no other mandate. Changelog • 2026-10-20: Draft posted for community discussion. • 2026-10-21: Updated proposal with DAO address details and DAODAO links Background On September 10, 2026, Circle announced that it is discontinuing support for USDC and CCTP V1 on Noble as part of its transition to CCTP V2. Noble will not receive CCTP V2. The wind-down runs on the following schedule: • October 13, 2026: New minting of USDC on Noble through Circle Mint is disabled. • October 31, 2026: CCTP V1 burn limits from Noble begin reducing gradually to zero. • January 12, 2027: The Noble USDC…

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Looking forward to the discussion! The proposed multisig members are in the process of creating the DAODAO instance on the Cosmos Hub.

Once that is done, I’ll update this proposal with the address and update the changelog accordingly. Let me know if y’all have any questions in the meantime!

I think this proposal is important, and I support it. This is not just a 566k USDC migration; it’s another step toward real IBC adoption.

The fact that Circle, Cosmos Labs, Injective, and Skip are coordinating this migration shows that interoperability is becoming a reality.

The more assets move between chains through IBC, the more this protocol can become essential infrastructure for the ecosystem.

The long-term goal is to turn this adoption into economic value for the Cosmos Hub and ATOM.

If IBC becomes critical infrastructure, the ICF should also consider ATOM a strategic treasury asset, rather than just a source of funding.

Every concrete step matters. This proposal is one of them. Thanks to the author for taking the initiative!

Good to see that this matter is handled already and not left aside until the last minute

Will support of course

Hi all, here is an update on the multisig. The DAO DAO has been created, all six members have signed a test migration of 1 USDC.n to USDC.inj, and it worked. Everything is ready, so I would like to share the details and give everyone the chance to check them before the governance proposal goes on chain. Multisig address The multisig address on the Cosmos Hub is: `cosmos1amny2nf23uauu79lzp299tvh9v4a62uuxvh8xyj7qavrm0adztsq5sz864` @RoboMcGobo , this is the address to use as the recipient of the spend in the proposal. Migration route We will use the Osmosis USDC transmuter pool. The route is Cosmos Hub → Noble → Osmosis → Injective → Cosmos Hub, and the USDC.inj arrives back in the multisig on the Hub. It is the route we tested. The DAO has its own accounts on Noble, Osmosis and Injective, and they are set as recovery addresses. If a leg of the IBC route fails, the funds stay under the control of the multisig. Because of the rate limits on USDC.inj going from Osmosis to Injective, we plan to migrate in 2 swaps. We will execute each one when the rate limits have a good margin. Once the USDC.inj is back in the multisig, it will be returned to the community pool with…

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Thank you @arlai-mk for sharing these details and confirming the initial tests and accounts have been set up.

I’ve just updated the proposal with the DAO address and DAODAO page link you shared!

Absolutely! It’s great to see proactive action being taken early rather than waiting until the last minute. Thanks for the support — it really makes a difference!

This proposal is on-chain for voting now! Mintscan

Voting ends on November 03 at approximately 11:30 AM ET, at which point the multisig will begin the migration process.

Please get out there and vote, and thanks to all of the multisig members and everyone who contributed to the discussion!

We should just focus on ATOM & nothing else

Hi all,

For information, the proposals have been posted on DAODAO ahead of the prop 1060. This will allow execution very quickly once the funds are received, the goal being that the multisig will hold funds for no more than 24 hours.

You can find them below:

• A5: Migrate 283,033 USDC.n to USDC.inj (swap 1 of 2)
• A6: Migrate 283,034.055810 USDC.n to USDC.inj (swap 2 of 2)
• A7: Return 566,067.055810 USDC.inj to the community pool

We’d appreciate eyes from the community to ensure that there is no issue in them, while the multisig members sign for it.

Thank you and let us know if you see any issue.

UPDATE: I can confirm that this proposal has passed and that the USDC.n that was in the community pool is now in the DAODAO treasury for this multisig

Treasury: DAO DAO

The proposals have all been pre-passed and the plan is to execute them this evening. We’ll post another update once that has been done and the funds are back in the community pool!

Dear community,

For information, the DAODAO proposals have all been executed successfully, and the funds have been returned in full (as USDC.inj) to the Community Pool.

A big thanks to the community and everyone involved.

Thank you @arlai-mk and to the rest of the multisig for the fast and efficient execution!

And thank you to everyone who voted to get this proposal over the line!