- Today, Tether is ceasing to mint USDT on Algorand and EOS.
- Redeemable USDT on Algorand and EOS will be ongoing for the upcoming 12 months.
Tether will stop minting on both blockchains today, hence ending support for the EOS +2.54% and Algorand implementations.
USDT redemptions on EOS and Algorand will continue for the upcoming year. Tether may then evaluate the circumstances and provide more announcements.
In an official statement, the firm stated: “We assure our community that this transition will be executed meticulously and with minimal disruption.” They also added: “We are committed to facilitating a hassle-free transition.” Our first goal remains offering a smooth customer experience.
In particular, Tether prefaced the announcement by stating that it continuously evaluates the state of the transport layers and strives to achieve a balance between maintainability, usage, and community interest.
Our goal is to allocate resources where they can most effectively enhance security and efficiency while continuing to foster innovation throughout the cryptocurrency space, according to the statement.
Tether now distributes its stablecoin on Avalanche, Celo, Kava (Cosmos), Ethereum, Liquid Network, NEAR, Polkadot, Solana, Tezos, TON, and Tron after removing Algorand and EOS. Nonetheless, the majority of USDT issuance is hosted on the blockchains of Ethereum and Tron.
In August 2023, Tether discontinued supporting USDT on Bitcoin, Kusama, and Bitcoin Cash..
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
