Tether launched the Legacy Mesh on 11th February, an interconnected system that connects USDT0 to existing USDT blockchain deployments.
This integration includes TRON, Tone, Ethereum, Arbitrum Ink and Berachain. It creates a framework that is unified for interoperability of stablecoins.
Legacy Mesh provides seamless liquidity movement for chains that already have USDT established. Arbitrum acts as a hub, connecting USDT0 to USDT0 networks.
Tether and LayerZero launched USDT0 (a multichain USDT) on 16th January, powered by Omnichain FungibleToken standard. OFT allows cross-chain liquidities without the need for intermediary bridges, wrapped assets or wrappers. It uses a network of decentralized oracles to facilitate this.
Multichain without bridges
Cross-chain USDT currently relies on third party bridges. This leads to a fragmentation of liquidity and complication in token management.
Arbitrum, according to an announcement, allows native USDT0 compatibility, which will allow users to efficiently access liquidity pools. Legacy Mesh further enhances DeFi, positioning Arbitrum to be a hub of liquidity for stablecoins.
Paolo Ardoino is the CEO of Tether.
“The Legacy Mesh is bringing 138 billion USDT together, making it a crucial advancement toward a unified on-chain dollar system. It simplifies liquidity movement from chains like Tron and Ethereum into ecosystems like TON and the USDT0 networks in a fully permissionless and self-sufficient way.”
Legacy Mesh is a network that uses Ethereum, TRON and TON pools to facilitate cost-effective, secure and reliable transfers using LayerZero messages. The Legacy Mesh connects USDT to the largest USDT0 on Arbitrum. This brings together 98% USDT in a single system.
All transfers within Legacy Mesh to Arbitrum and vice versa are now active. Plans are underway to multihop transfer Legacy Mesh chains from USDT0 networks, such as Ink, Berachain and Ink, outside Arbitrum.
USDT, the market leader in stablecoins, must be able to offer a smooth multichain alternative as liquidity moves rapidly through decentralized ecosystems.
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