Teter will end support for the Kusama, Bitcoin Cash SLP and Omni Lyer networks
Date: 2023-08-17 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
Tether has discontinued support for the Kusama, Bitcoin Cash SLP, and Omni Layer networks. In a statement from the USDT stablecoin issuer, it is written that the level of community interest is a key factor in making this decision.
“If the blockchain usage rate does not grow over a long period of time, then its support becomes ineffective and may compromise security,” Tether said in a statement.
The company said it appreciates the importance of Omni Layer, which was the first platform where USDT was issued.
“Over time, Omni Layer ran into problems with the lack of popularity of tokens and the unavailability of USDT on other blockchains. Because of this, many exchanges began to favor alternative transport layers, which led to a decrease in the use of USDT on Bitcoin through the Omni Layer, ”the company said in a statement.
Tether also announced that it will stop issuing USDT-Omni, USDT-Kusama and USDT-BCHSLP from August 17th. However, it will continue to redeem these stablecoins over the next 12 months, and users will be able to transfer USDT to available networks.
Earlier, Tether announced a mobile application with Lightning Network support.
