Tether (USDT), with a market value of $ 43 billion, expands its active path to the most promising platforms of Web 3.0.
Kusama (KSM) and Polkadot (DOT) ready to meet Tether (USDT)
According to Tether’s press release, the team, which enables stablecoins, including USDT, to advance towards technology and marketing, will deploy their assets in Polkadot and Kusama.
Providing a test environment for Polkadot’s “canary chain” and many Polkadot-focused initiatives, Kusama will be the first platform to take part in this release. Tether CTO Paolo Ardoino emphasized that Polkadot and Kusama should be seen as the next generation technological environments for Tether mechanisms:
“Polkadot is one of the most exciting projects in the digital token ecosystem, and we expect Tether token to be readily available as we power Polkadot’s evolving DeFi ecosystem. Polkadot has the ability to grow significantly in the coming years with its parachain structure. This growth will result from the high level of scalability. ”
Peter Mauric, public relations officer at Parity Technologies, the first core development team behind Polkadot and Kusama, added that this release is crucial to the advancement of Polkadot-based dApps:
“With a multi-chain future in mind, teams building decentralized applications are increasingly turning to stablecoins built into multiple networks to provide a seamless experience for their users. ”
Stablecoins migrate to the parachain network
This announcement is revolutionary for both sides. For Tether, this marks the first time that its product is deployed on a multi-chain network. Previously, USDTs were integrated by Algorand, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Tron and Solana.
At the same time, USDT for Polkadot and Kusama is becoming a leading stablecoin hosted by their mechanism. This situation proves Polkadot’s high performance.