Deposit USDC via IBC
Collateral on NeutronX is Circle's native USDC, arriving from Injective over IBC. A transfer is credited to the wallet and deposited into a subaccount right away.
Where USDC comes from
- The channel is
channel-1on NeutronX andchannel-503on the Injective side. - On NeutronX this USDC is the voucher
ibc/ED4C…1EC1. Only it counts as collateral. - USDC reaches Injective from other networks through Circle's CCTP.
Automatic deposit
- A transfer is always credited to the receiver's wallet, then the protocol deposits it into a subaccount.
- Without a memo the funds go to subaccount 0, and 0.5 USDC stays in the wallet for gas. If no more than 0.5 USDC arrived, everything stays in the wallet.
- The memo
{"deposit_to_subaccount":{"v":1,"subaccount_id":N}}deposits the whole amount into subaccount N. The subaccount number is below 128. The memo is up to 4,096 bytes, extra fields inside the instruction are not allowed. - A bridge can name a route address as the receiver: the transfer then goes straight into the owner's subaccount or into the vault.
Inbound limit
- At most 100,000 USDC is deposited per channel every 720 blocks (~10 min). The limit is shared by everyone.
- A transfer above the limit stays in the wallet and can be deposited manually.
If a deposit did not reach the subaccount
The automatic deposit never rejects a transfer or sends it back. If it was skipped, the funds are in the wallet and the reason is in the auto_deposit_skipped event:
| Reason | What it means |
|---|---|
channel_not_allowed | The transfer came over a channel other than channel-1, for example old Noble USDC |
denom_mismatch | This is not the collateral USDC |
below_gas_reserve | No more than 0.5 USDC arrived without a memo |
inbound_rate_limited | The inbound limit is used up |
memo_malformed, memo_unknown_field, memo_bad_version, memo_too_large | An error in the memo |
subaccount_id_above_cap | The subaccount number is 128 or higher |
receiver_is_module | The receiver is a protocol module account |
deposit_failed:… | An internal error while depositing, the funds are safe in the wallet |
Old Noble USDC
- Since 12 October 2026 collateral is USDC from Injective. The Noble voucher
ibc/8E27…45B5no longer counts as collateral, and new transfers from Noble stay in the wallet. - The old voucher can be exchanged 1:1 for current USDC while governance keeps the exchange open and the exchange reserve covers it.