Tether Halts USDT Minting on EOS and Algorand
Tether, the issuer of the USDT stablecoin, has announced it will no longer mint new USDT tokens on the Algorand and EOS blockchains. This decision, effective immediately, reflects Tether’s effort to optimize its blockchain ecosystem by focusing on community-driven support and resource allocation.
Despite ceasing new minting, Tether will continue to support the redemption of USDT on these blockchains for the next 12 months. The company mentioned that additional changes might be evaluated and announced after this period.
The decision was made after a thorough evaluation of the network security, usability, and sustainability of Algorand and EOS. Tether aims to reallocate resources to platforms that enhance security and efficiency while supporting innovation in the cryptocurrency landscape.
Read More: https://onthenode.com/cryptocurrency/tether-halts-usdt-minting-on-eos-and-algorand
Tether, the issuer of the USDT stablecoin, has announced it will no longer mint new USDT tokens on the Algorand and EOS blockchains. This decision, effective immediately, reflects Tether’s effort to optimize its blockchain ecosystem by focusing on community-driven support and resource allocation.
Despite ceasing new minting, Tether will continue to support the redemption of USDT on these blockchains for the next 12 months. The company mentioned that additional changes might be evaluated and announced after this period.
The decision was made after a thorough evaluation of the network security, usability, and sustainability of Algorand and EOS. Tether aims to reallocate resources to platforms that enhance security and efficiency while supporting innovation in the cryptocurrency landscape.
Read More: https://onthenode.com/cryptocurrency/tether-halts-usdt-minting-on-eos-and-algorand
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