Stablecoin Issuer Circle Introduces Credits Program to Support Developers

Circle is introducing the Circle Credits Program, their latest investment in developers using Circle’s platform.

Early in 2024, they revealed Circle’s intentions “to empower early-stage, high-impact builders with grants and bounties that help them build on their platform.” As they seek to remove barriers in blockchain development, their new Credits program minimizes a significant deterrent: cost.

While most developers building off-chain applications can migrate code from testing to production “at little to no cost, blockchain apps always incur charges.”

Deploying wallets and smart contracts on-chain requires developers “to pay transaction fees (known as gas fees), creating a potential obstacle as they move to production on mainnet.”

The Circle Credits Program provides credits “that can be used to pay for Web3 Services bills, such as Programmable Wallets monthly fees, Smart Contract Platform API calls, and Gas Station fees.”

With this support, developers can feel “more confident and worry-free about costs and focus on building the best on-chain app.”

The Credits program is available to “select developers actively pursuing business ideas or use cases with Web3 Services.”

Currently, Circle’s Web3 Services “provides developers with free access to its product suite on mainnet for their initial testing and ramp-up.”

Developers can spin up 1,000 wallets “with Programmable Wallets and conduct 25,000 API calls with Smart Contract Platform per month before incurring charges.”

Developers currently using Web3 Services who expect “to exceed the free product usage can apply for Credits and get up to $1,000 in credits.”

Credits aren’t the only form of financial support they offer to developers.

They’ve recently launched “the USDC Grant Program to help fund early-stage projects integrating USDC and Web3 Services.”

In addition to receiving a direct grant in USDC, grant recipients also “get access to Credits as a listed program benefit, enabling faster launches of their apps and initiatives.”

USDC Grant Program and Credits work “together to reduce friction for developers at all stages of their projects.”

Beyond Credits and USDC Grants, Circle provides developers “with a broad range of support vectors:”

Their quickstart resources help developers “get the most value with our platform through sample apps, interactive guides, tutorial videos, training courses, and more.”

Their active community on Discord and X provides “a platform for like-minded builders to connect, network, and learn from each other.”

Their bounty program for developers, which they’ll announce fully in the coming months.

With USDC, they’re creating what they claim is “the largest, most widely used stablecoin network, enabling billions around the world to access digital dollars for payments and financial services.”

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