Reserve attestation . continuous . in USDC

Full reserves.
Redeemable.
Only grows.

CIRCULAR is a token whose entire backing sits in an on-chain USDC reserve. Redeem into it pro rata, any block. Backing per token starts near zero and can only rise. On Arc, the stablecoin chain, in the chain's own money.

Acquire $CIRC → Read the statement

CONTRACTlive at launch

Backing per CIRC 0.00000000 USDC +0.000000000 this session

Reserve$0.00

Supply1,000,000,000

ATTESTED AT BLOCK 21,472,318 demonstration . reads from chain at launch

Swap tax

3 / 3 in USDC

Pool

CIRC / USDC v4

Liquidity

Burned at launch

Deployer

Holds zero

Redemption

Any block

NOTE 01Statement of reserve mechanics

CIRC-AT-01

Three moving parts. All of them arithmetic.

No treasury discretion, no oracle, no promises. The reserve is a contract, the floor is a division, and redemption is a function anyone can call.

Figure 1 . value in, redeem out, full circle

1.1FORMATION

Every swap funds the reserve

A 3 percent tax applies to every swap in the CIRC/USDC pool, charged in USDC and deposited straight into the reserve contract. No treasury wallet, no multisig, no discretion. The pool works, the reserve fills.

tax 3/3 → CircularReserve . USDC only

1.2THE RATCHET

Backing per token never steps down

Backing per token equals reserve divided by supply. Taxes push it up. Redemptions remove reserve and supply in the same proportion, so they cannot push it down. The figure steps up or holds. By construction it does not step back.

floor = reserveUSDC / supply . monotone

1.3REDEMPTION

Redeem any block, oracle free

Burn CIRC, withdraw your pro rata share of the USDC reserve, in one transaction. No oracle, no queue, no permission, no counterparty desk. On a chain with roughly half-second blocks, the exit is always about 0.5 seconds away.

redeem(amount) → USDC . pro rata . any block

NOTE 02Basis of presentation . Arc

CIRC-AT-02

The first mechanism token on the stablecoin chain.

Arc is Circle's L1. USDC is the gas and the unit of account: every fee, every price and every balance on the chain is already denominated in dollars. A reserve attested in USDC needs no translation here. It is the native language.

Arc mainnet opened on 2026-09-16 with a handful of live projects, most of them launchpads and cat coins. CIRCULAR intends to be the first token on the chain whose entire premise is a mechanism you can verify from a block explorer: a reserve you can read, a floor you can compute, a redemption you can execute.

Blocks land roughly every half second, which means the attestation you are watching above is not a monthly PDF. It is the resting heart rate of the chain.

ChainArc mainnet

Chain ID5042

Block time~0.5 s

Gas assetUSDC

Reserve assetUSDC . 6 decimals

VenueUniswap v4

MempoolPrivate . no sandwiches

StatusContracts in build . launch gated

A circular vault door with a glowing blue ring seam

Exhibit A . the reserve holds USDC and nothing else

NOTE 03Comparative statement

CIRC-AT-03

Not a memecoin. Not a stablecoin.

A third thing: a redeemable rising floor. Read the columns before you decide it reminds you of something.

	CIRCULAR	A plain memecoin	A stablecoin
Backing	A USDC reserve, on chain, readable every block	None	Off-chain reserves, attested monthly
Redemption	Pro rata, permissionless, any block	None	At par, through the issuer, with onboarding
Backing per token	Starts near zero. Only rises.	Zero, forever	Fixed at 1.00
Market price	Floats. The floor is a redemption value, not a peg.	Floats	Pegged to 1.00
Upside	Open	Open	None by design
What it is	A redeemable rising-floor experiment	A bet on attention	A dollar

Plain language, on the record

CIRCULAR is not a stablecoin. It is not pegged, and it is not redeemable at a fixed dollar. Backing per token starts near zero; the mechanism makes that number rise, it does not make the market price obey it. Price trades wherever the market takes it, and this is an experiment: you can lose everything you put in.

NOTE 04Acquisition procedure

CIRC-AT-04

Four steps. The last one is optional forever.

04.1

Bridge USDC to Arc

Move USDC to Arc with CCTP or a supporting wallet or exchange. USDC is the gas: one asset funds the wallet and the swap.

04.2

Open the pool

The CIRC/USDC pool lives on Uniswap v4 on Arc. The buy link on this page goes live the moment the contract does.

04.3

Swap USDC for CIRC

The 3 percent tax on your own swap is already funding the reserve you now hold a share of. Full circle, from your first block.

04.4

Redeem whenever. Or never.

Burn CIRC for your pro rata share of the reserve at any block. The floor does not expire, and it does not go down while you wait.

Contract live at launch

Buy $CIRC → Chart Announcements

NOTE 05Disclosures

CIRC-AT-05

Asked, answered, on the record.

05.1Is CIRCULAR a stablecoin?+

No. It is not pegged, it does not target one dollar, and nothing about it is stable by design except the direction of the backing. Backing per token starts near zero and rises with activity. The market price floats freely above it, and sometimes toward it.

05.2What exactly do I redeem into?+

Your pro rata share of the USDC reserve: your balance divided by total supply, times the reserve. Burn CIRC, receive USDC, in one transaction, at any block. No oracle prices it and no one approves it.

05.3Can backing per token go down?+

Not by the mechanism. Swap taxes only add to the reserve, and redemptions remove reserve and supply proportionally, so the figure holds or rises.

The market price is a different matter entirely. It can fall regardless of the reserve, liquidity can be thin, contracts can have bugs, and USDC itself carries issuer risk. This is a high-risk experiment, not a savings product.

05.4Are you affiliated with Circle or USDC?+

No. Loudly, no. CIRCULAR is an independent experiment that admires how Circle runs USDC (full reserves, attestations, redemption) and runs a token the same way, on Arc, in USDC. It is not affiliated with, endorsed by, or connected to Circle, USDC, or Arc. No Circle or USDC brand assets appear here, and none ever will.

05.5Where does the reserve live?+

In its own contract, funded directly by the pool hook. The design ships with liquidity burned at launch and a deployer that holds zero. Contract addresses and verified source will be published here and on the explorer at launch. Until then, treat every figure above as a demonstration.

05.6When does it launch?+

The contracts are a port of an audited reserve-floor stack, being adapted to Arc now. The CA, buy link and chart wire into this page the moment they exist. Until they do, the only honest number on this page is the block counter.