Circle Discloses Latest Arc Network Progress: Genesis Minting of 10 Billion ARC Tokens Completed, Plans Transition to PoS by 2027
Odaily reports that Circle has disclosed the latest progress on the Arc network, having completed the genesis minting of 10 billion ARC tokens, becoming the first publicly traded company to mint network tokens for a new Layer 1 blockchain. ARC will be used for network security, utility functions, and governance, and Arc plans to transition to a proof-of-stake (PoS) mechanism by 2027.
In addition, the Arc public mainnet launched on September 16, attracting more than 100 institutions and ecosystem builders on its first day, with native integration of USDC. Future development will focus on PoS, privacy protection, and scalability.
On the ecosystem side, the Arc developer community has grown to more than 75,000 Arc House members and 10,000 Architect ambassadors, with over 1,200 projects built cumulatively during the private mainnet phase.
