Tether Operations Limited (“Tether”), the company that operates the platform that supports the blockchain to me Backing the largest stablecoin by market capitalization, Tether Tokens (“USDt”) will be launched on Tezos, a leading scalable proof-of-stake blockchain. The addition of USDt to Tezos demonstrates its growing momentum as a burgeoning proof-of-stake blockchain that continues to build a reputation as the leading choice for brands and organizations looking to build the Web3 revolution.
Tether’s USDt, now available on 12 blockchain networks, welcomes the Tezos ecosystem into its $80 billion network. USDt on Tezos will power revolutionary applications across payments, DeFi, and more.
“We are excited to launch USDt on Tezos, providing its growing and vibrant community with access to the most liquid, stable and trusted stablecoin in the digital token space.” said Paolo Arduino, CTO at Tether. “Tezos is quickly coming to the scene and we believe this integration will be essential to its long-term growth.”
Tezos is a unique network in the blockchain space, with nine upgrades, and is the only single-tier blockchain network that successfully evolves and upgrades over time without relying on hard forks. The upgrades have lowered gas costs, lowered your carbon footprint, and more recently, these upgrades have replaced the Tezos consensus mechanism with Tenderbake, a modified BFT algorithm similar to Cosmos’ Tendermint algorithm. Tezos is set to continue its unprecedented track record with its next update that will introduce built-in optimistic aggregations for the leading PoS network.
“With the introduction of USDt, the ramps in and out of the Tezos DeFi ecosystem have become streamlined and efficient. Tezos is an exemplary system with features and tools that have enabled innovative application designs not possible on other networks,” said Alessandro De Carli, founder of Papers. “The launch of USDt on Tezos will undoubtedly unlock new DeFi products and I expect the impact on the growth of the scale of the Tezos DeFi ecosystem will be impressive.”
The launch of USDt on Tezos will highlight Tether’s dedication to pioneering collaboration and interoperability within the growing digital asset space. Tezos owns a growing DeFi ecosystem that includes the Youves protocol for cropping, decentralized exchange and EVM bridge Plenty, and more. At launch, Tether will be the largest stablecoin by market cap available within the network.
Being the most liquid, stable, and innovative stablecoin, the market capitalization of USDt has grown to over $80 billion. USDt operates across a variety of different blockchains, including Algorand, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Tezos, Tron, and Solana. Tether works to support and enable the growing projects and innovations in the blockchain space.
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