Tether Abandons Plan To Freeze USDT On Five Chains

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Stablecoin issuer Tether has abandoned its plan to freeze USDT smart contracts on five chains, saying the tokens will remain transferable but no longer be issued or redeemed.

The revised plan impacts users on Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand, Tether said on Friday after receiving feedback from members of these ecosystems. “Following the feedback from the communities of these discontinued blockchains, Tether has revised this approach and will not freeze the smart contracts on these networks.”

While users will still be able to…



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Tether Abandons Plan To Freeze USDT On Five Chains


Stablecoin issuer Tether has abandoned its plan to freeze USDT smart contracts on five chains, saying the tokens will remain transferable but no longer be issued or redeemed.

The revised plan impacts users on Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand, Tether said on Friday after receiving feedback from members of these ecosystems. “Following the feedback from the communities of these discontinued blockchains, Tether has revised this approach and will not freeze the smart contracts on these networks.”

While users will still be able to…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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