Tether announced that it would end up USDT on five less used blockchains after using these networks.
The redemptions and the typing of tokens on the OMNI layer, the big single book Protocol of Bitcoin Cash, Kusama, Eos and Algorand should stop on September 1, 2025. The remaining tokens must be frozen the same day, according to a press release.
Together, the five networks only have a float ribbon of around $ 156 billion in the USDT. Tether says that the use of the USDT on these networks, which he praises as playing a role in the early growth of the company, has decreased “considerably” in the past two years.
“Support for sunset for these inherited channels allows us to focus on platforms that offer greater scalability, developer activity and community engagement – all key components to conduct the next stablecoin vague,” said TETHER CEO, Paolo Ardoino, in the press release.
The company will redirect its objective to layer 2 networks such as the Lightning network and to new blockchains that promise a faster colony and richer developer tools.
TETHER asked its customers to hold USDT on the five networks to buy their assets as soon as possible or to request the program of their tokens on a supported blockchain. Token holders can migrate their tokens through bridges or blockchain exchanges.
The share of the lion of the Fiat of $ 156 billion from Tether is currently circulating on Tron and Ethereum, which together represent more than 95% of the total. Solana is the only other network with more than 1% of the USDT supply in circulation, according to Rwa.xyz data.
