Tether launched USDT on the Tezos network

Tether launched USDT on the Tezos network

It is the twelfth blockchain after Ethereum, Solana, Avalanche, Polygon, Algorand, Tron, Omni (Bitcoin), EOS, Liquid Network, Kusama and Bitcoin Cash.

:point_up:t2: According to the company, the market capitalization of USDT exceeds $72.5 billion, with Tron ($38.73 billion) and Ethereum ($36.81 billion) blockchains accounting for the largest portion of the stablecoin offering.

Recall that quite recently Tether launched its stablecoin on the Polygon network.

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I’m also really looking forward to maybe when Xi’an we can withdraw USDT to enter the radix ecosystem

Would you agree for radix not to create stablecoins and invite specialized companies like tether To make FIAT into the radix ecosystem?

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I still do believe that there is a place for an own stablecoin, just as it was initially planned. (further discussions and explanations in this thread).

About Tether: we all know they are kinda shady. I personally don’t trust them 100% (one reason), and would have a bigger trust in our own stable. :wink: But we learnt from UST situation that a simple algoritmic stablecoint won’t work out.

i totally agree not to create own stablecoin. we saw how it ended with Luna. There is to much risk in it for my oppinion.

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No way if radix wants to be defi we will need stable coins for the foreseeable future as long as the coin is linked to real world money it is fine, radix cannot rule defi without a stable coin.

Yes that’s the scheme they do “Ponzi” is not an algorithm problem that arises but the scheme can not make it stable. because it’s just a ponzi like Token squid game which previously went viral and disappeared taking away a lot of investors’ money

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The only way to create a stable coin that works is to have it linked to real money or have it over collateralized with real world assets like gold ect , shade protocol is doing something like this

There will definitely be stablecoins issues on Radix like USDT/USDC etc

These centralised 1:1 coins are relatively easy to implement.

Radix’s stablecoin project is a much harder problem which is one one pegged to a particular currency but pegged to purchasing power.

Check out some of the teams thoughts on Luna/UST and stablecoins here:

Dan/Radix have been thinking about stablecoins since 2013 - if they do implement a stablecoin it won’t be a hastily thought of one that can introduce vulnerabilities into the network like in the case of Luna.

what typ of stablecoin do you suggest?
backed upwith classic assets, backed up with cryptos or algorithmic validation?

It may be better to back up with classic assets or backup with real funds. although it has inflation risk but it is more reliable

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100% backed up or partially? i don’t understand so much from the tech side.

If its not backed up by gold/silver or real money its fake - avoid