Tether LayerZero USDT0 is a stablecoin based on the Tether USD.
LayerZero’s Omnichain Fungible Token standard (OFT), developed by LayerZero will be used to power cross-chain transfer. USDT0 documents state that OFT unifies the liquidity of connected chains, and validates transactions using a network decentralized oracles.
Documentation also states that a messaging layer is used to transmit tokens, eliminating the need for wrapped assets and intermediary bridges. USDT0 is also a contract that locks USDT in an Ethereum mainnet smart contract.
USDT0 is minted in 1:1 proportion on the target blockchain, based on locked assets from Ethereum. USDT0 is redeemed on Ethereum by unblocking USDT.
Tether CEO Paolo Ardoino stated:
“By improving interoperability and reducing friction, it enhances the user experience in ways that align with the broader vision of Tether. It’s exciting to see this innovation emerge and tackle real market demand.”
The following is a list of the most popular ways to get in touch with someone. You can also add your own comments. that this new multichain version of USDT will help scale the stablecoin’s presence across many more blockchains.
USDT0 will debut on Kraken’s layer-2 blockchain, Ink, and intends to launch on Berachain and MegaETH in the coming weeks.
Andrew Koller, founder of Ink, said that USDT0’s choice of Ink as its first chain marks the beginning of a “new standard”For stablecoin liquidity.
Bryan Pellegrino added that LayerZero Labs is pleased to offer USDT transfers in a fast, seamless manner across all ecosystems.
Increased expansion
USDT can be found on 11 different blockchains. Artemis data shows that the aggregate transfer volume of Artemis in the last year is over $10 trillion. Jan. 16.
Stablecoin also sits as comfortably the largest stablecoin, with an $141 Billion supply. This is almost $100 billion over the runner up USD Coin. The stablecoin has increased by 51% in value since January 2024.
The Markets in Crypto-Assets Regulations (MiCA), which was passed in Europe, had a significant impact on the Tether stablecoin. shutting down Its euro-backed coin EURt. Circle, meanwhile, has covered all the bases with its Euro Coins (EURC), compliant to the new regulations.
Tether has responded to the criticism by You can invest in Quantoz, a Dutch crypto-company that issues MiCA compliant stablecoins. Paolo Ardoino’s firm also announced that it would be issuing stablecoins compliant with MiCA. Additional Investment The same goals are pursued in StablR.
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