RATE Group | Tether swaps 300 million USDT from Omni to Ethereum blockchain
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Tether swaps 300 million USDT from Omni to Ethereum blockchain

30 Oct Tether swaps 300 million USDT from Omni to Ethereum blockchain

Posted at 09:58h in Ethereum News by

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  • Tether performed another massive chain swap.
  • The share of Ethereeum-based stablecoins reached 44%.

Tether announced a chain swap, whereby 300 million USDT have been moved from Omni to ERC-20 standard.

Within 2h Tether will coordinate with a 3rd party to perform a chain swap (conversion from Omni to ERC20 protocol) for 300M USDt. Tether total supply will not change during this process,” the company announced on October 29 via Twitter. 

The chain swap allows traders to access various blockchains that support the cryptocurrency that they are holding. 

“For example, as Tether (USDt) is on the Omni, Ethereum, Tron, EOSIO and Liquid blockchains, our clients can obtain access to any of these five blockchains with their USDt holdings. A trader can “swap” the current blockchain that their USDt is operating on to another supporting blockchain, for example Ethereum to Omni,” Tether explains in a dedicated blog boost on its website.

The announced migration was…

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