The quest for a robust blockchain ecosystem for USDT pushes Tether to part ways with Bitcoin Cash SLP, Kusama, and Omni Layer. To better satisfy the community, Paolo Ardoino’s team has chosen to migrate towards an infrastructure more sure ” And ” more decentralized ”, bitcoin.
Tether parts ways with longtime friends
Tether is healthy, both financially and technologically. Very keen on transparency, the cryptocurrency giant shared data concerning the US Treasury bonds belonging to it recently.
Moreover, these incessant investments in bitcoin mining ecofriendly testify to Tether’s desire to always move forward.
” Tether makes a strategic decision to meet community demands. After careful consideration, Tether will stop supporting Kusama, Bitcoin Cash SLP and Omni Layer (repurchases and channel swaps will proceed as normal. »
This tweet published by Tether is complemented by another publication from its CTO, Paolo Ardoino. There is also this article published on its official website on August 17 last.
P. Ardoino begins his tweet by announcing the end of support for the 3 aforementioned blockchains. At the same time, he reassured that:
” Clients will be able to continue to trade $USDT tokens (to any of the supported blockchains), but Tether will no longer issue new additional $USDT on these 3 blockchains. »
Paolo Ardoino and the Tether team recognize that this decision was not easy to make. Indeed, the crypto company has worked with Omni for a long time. Since its debut in 2014, Tether has enjoyed support from this layer.
” However, over the years, Omni Layer faced challenges due to lack of popular tokens and availability of USDT on other blockchains. This has led many exchanges to favor other transport layers, resulting in a decline in use of USDT over bitcoin using the Omni layer. As a principles-based organization, we must remain consistent and transparent, and adhere to open processes, even when it means tough choices “, can we read on the Tether site.
Bitcoin, the blockchain replacement
After having praised the efforts, certainly commendable but not suitable for the requirements of Tether, of Omni, the team of Paolo Ardoino presented the new host blockchain.
” We would like to emphasize that the Tether team is rooted in the belief of take advantage of the most secure, most verified and most decentralized blockchain ever built: Bitcoin. We also actively contribute to the development of RGB, a client-side validated state and smart contract system running on layers 2 and 3 of the Bitcoin ecosystem. RGB works both on-chain (Bitcoin L1) and the Lightning Network, promising unparalleled scalability continues the Tether team.
In his view, RGB offers a better opportunity to:
- digital assets;
- smart contracts;
- NFTs;
- etc.
After rolling out to RGB, USDT will shine even brighter, the Tether team believes.
In addition, she reassured her community as follows:
” Tether will continue to repurchase USDT-Omni, USDT-Kusama, and USDT-BCH-SLP as usual for at least the next 12 months. Tether may evaluate and announce further changes at that time. Users can also trade USDT-Omni, USDT-Kusama, and USDT-BCH-SLP against other chains on platforms that support these assets, such as Bitfinex. »
In other words, the separation will not be suddenthere will be a transition.
Is this enough to reassure Tether customers looking for stability and reassurance? Because USDT to dollar depeg series have been sparking FUD lately.
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