Polkadot and Kusama are Multichain Blockchain networks. Tether (USDT) has plans to be the first ever stablecoin to launch on the two multichain blockchain networks.
Of note, USDt is working across a diverse range of blockchains, including Algorand, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Tron and Solana. Tether is finding use in driving support to further empower growing ventures and innovation in the blockchain space.
The company focuses to launch on Kusama first before it can further go live on Polkadot as DOT is “pending the formation of parachains.” Parity Technologies early in March stated that they will develop and release a generic asset parachain to serve as a common-good chain on Polkadot.
Paolo Ardoino, CTO Tether stated, “Polkadot is one of the most exciting projects in the digital token ecosystem, and we anticipate a ready uptake of the Tether token as it powers Polkadot’s emerging DeFi ecosystem. Polkadot, with its parachain structure, has the ability to grow significantly in the coming years. The growth will be driven by its high level of scalability.”
If the partnership between Tether (USDT) and Polkadot should happen, it will be a crucial step in achieving a major vision, where developers can seamlessly compose trustless applications across chains, networks, and communities.
Meanwhile Popsicle Finance expressed, USDT is going cross-chain with fUSDT. As USDT is the main pair on CEXs, there needs to be a main trading pair on all chains and all DEXs. Thanks to partnerships with Andre Cronje Tech, multi chain xyz, Ellipsisfi, Binance Chain and Tether_to this is all becoming reality.
Further expressed, we are excited to kick things off today with the launch of the liquidity pool fUSDT/3 pool on Ellipsisfi. Unlocking easy access of fUSDT on BSC. Stake your fUSDT Ellipsis LP tokens to farm ICE.
For clarity, Popsicle.Finance are the next-gen cross-chain yield enhancement platform focusing on Automated Market-Making (AMM) Liquidity Providers (LP).
Ellipsisfi $EPS is a decentralized exchange that allows for the swapping of stablecoins with low slippage and minimal fees on Binance Smart Chain.
Users are really looking forward to seeing this develop and grow to further find new ways to earn great rewards. Also, users consider this to be a great place to store value on expecting the pools to consistently perform well and help extract profit without any volatility. The expectation versus reality factor will be known with time.
Recently, Tether (USDT) have climbed beyond the market cap of 40 million USD triggered by institutional and corporate demand.
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