Tether launches on Tezos
Tether launches on Tezos a pioneering upgradable Proof-of-Stake blockchain. The addition of USD₮ to Tezos demonstrates its growing momentum as a thriving Proof-of-Stake blockchain that continues to build a reputation as the leading choice for brands and institutions looking to build the Web3 revolution.
Tether’s USD₮, now available on 12 blockchain networks, welcomes the Tezos ecosystem to the US $72 billion network. USD₮ on Tezos will power revolutionary applications across payments, DeFi, and more.
“We’re excited to launch USD₮ on Tezos, offering its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space. Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth.” — Paolo Ardoino, CTO at Tether
Tezos is a unique network in the blockchain space, with nine upgrades, it is the only layer one blockchain network to successfully evolve and upgrade over time without relying on hard forks.
Integration Highlights
Upgrades have decreased gas costs and increased transaction speed, and most recently, such upgrades even replaced Tezos’ consensus mechanism with Tenderbake, a modified BFT algorithm similar to Cosmos’ Tendermint. Additionally, Tezos is set to continue its unprecedented track record with its next update which will introduce enshrined optimistic and smart contract roll-ups to the leading Proof-of-Stake network.
“With the introduction of USD₮, on and off ramps into the Tezos DeFi ecosystem are simplified and efficient. Tezos is an exemplary system with features and tools which have enabled innovative application designs not possible on other networks. The launch of USD₮ on Tezos will undoubtedly unlock new DeFi products and I expect the impact on volume growth of the Tezos DeFi ecosystem to be remarkable.” — Alessandro De Carli, Founder at Papers
Moreover, the launch of USD₮ on Tezos will further highlight Tether’s dedication to pioneering collaboration and interoperability within the growing digital asset space.
Tezos Conquering DeFi Ecosystem
Furthermore, Tezos has a growing DeFi ecosystem which includes yield farming protocol Youves. It also includes decentralized exchange and EVM bridge Plenty, and more. Upon launch, Tether will be the largest stablecoin by market capitalization available within the network.
Moreover, as the most liquid, stable, and innovative stablecoin, USD₮’s market capitalization has grown to over US $72 billion. USD₮ also works across a diversity of different blockchains. It also includes Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol (SLP). Additionally, Ethereum, EOS, Liquid Network, Omni, Polygon, Tezos, Tron, as well as Solana, and Statemine.
ABOUT Tether
Tether tokens (USD₮) are pioneers in the stablecoin model and are the widest trades on markets. Tether tokens offer the stability and simplicity of fiat currencies. Coupled with the innovative nature of blockchain technology, represents a perfect combination of both worlds.
ABOUT Tezos
Tezos is designed to power the Web3 revolution. It also allows users to directly and frictionlessly interface with each other over a decentralized network. Exchanging value and interacting with various applications, without the need for intermediaries.
RESOURCES
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