{"id":190721,"date":"2021-05-18T14:00:34","date_gmt":"2021-05-18T13:00:34","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=190721"},"modified":"2021-09-17T23:53:03","modified_gmt":"2021-09-17T22:53:03","slug":"tether-stablecoins-are-launching-on-high-speed-avalanche-network","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/tether-stablecoins-are-launching-on-high-speed-avalanche-network\/","title":{"rendered":"Tether stablecoins are launching on high-speed Avalanche network"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/coins\/tether\/\">Tether<\/a> Global, the company that powers USDT, the largest stablecoin by market capitalization, will launch its dollar-backed stablecoins on Avalanche, it said in an announcement yesterday.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re pleased to announce that Tether tokens (USDt) will be available on Avalanche <a href=\"https:\/\/twitter.com\/avalancheavax?ref_src=twsrc%5Etfw\">@avalancheavax<\/a>, an open-source platform for launching highly decentralized applications, new financial primitives and new interoperable blockchains.<\/p>\n<p>Find out more\u2b07\ufe0f<a href=\"https:\/\/t.co\/e6wmwey6Ey\">https:\/\/t.co\/e6wmwey6Ey<\/a> <a href=\"https:\/\/t.co\/gUVwSC3Ot6\">pic.twitter.com\/gUVwSC3Ot6<\/a><\/p>\n<p>&mdash; Tether (@Tether_to) <a href=\"https:\/\/twitter.com\/Tether_to\/status\/1394315306751905796?ref_src=twsrc%5Etfw\">May 17, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Avalanche an open-source platform for launching highly decentralized applications, new financial primitives, and interoperable blockchains. Tether, on the other hand, is a stablecoin pegged on a 1:1 basis to the US dollar and is represents nearly $56 billion worth of dollar liquidity for the crypto market.<\/p>\n<h2>Why Avalanche?<\/h2>\n<p>Avalanche is designed as a highly scalable ecosystem with the aim of delivering near-instant transaction finality while levying low transaction fees that are fractions of a cent.<\/p>\n<p>The project is compatible with Solidity, a high-level object-oriented programming language, primarily used on Ethereum. This enables Ethereum developers to quickly build decentralized apps (<a href=\"https:\/\/cryptoslate.com\/products\/category\/ethereum-dapps\/\">dApps<\/a>).<\/p>\n<p>\u201cWe are delighted to initiate USDt\u2019s launch on Avalanche,\u201d said Paolo Ardoino, CTO at Tether, in a statement.<\/p>\n<p>He added,\u00a0\u201cThe launch of USDt on Avalanche will provide traders with a fast, cost-effective way to transfer USDt across different exchanges. Avalanche\u2019s vision for a highly scalable blockchain with low transaction fees and interoperability has been endorsed by some of the brightest minds in the space.\u201d<\/p>\n<h2><strong>Booming DeFi space<\/strong><\/h2>\n<p>Emin G\u00fcn Sirer, Director of the Avalanche Foundation, noted in another statement. \u201cHaving USDt launch natively in Avalanche adds another core infrastructure to the rapidly expanding DeFi ecosystem on the platform. It will be a welcome addition to users and developers propelling this continued growth,&#8221; he said.<\/p>\n<p>DeFi activity on Avalanche has boomed since the launch of the Avalanche-Ethereum Bridge (AEB) in February. Since the launch, users have executed more than 2 million smart contract transactions and created 92,000 unique addresses.<\/p>\n<p>Meanwhile, the launch marks yet another blockchain over which USDT is issued. The other issuers, at press time, include Algorand, Bitcoin Cash\u2019s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Tron, and Solana.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether Global, the company that powers USDT, the largest stablecoin by market capitalization, will launch its dollar-backed stablecoins on Avalanche, it said in an announcement yesterday. We\u2019re pleased to announce that Tether tokens (USDt) will be available on Avalanche @avalancheavax, an open-source platform for launching highly decentralized applications, new financial primitives and new interoperable blockchains. [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":190769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,32631],"tags":[72860],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tether stablecoins are launching on high-speed Avalanche network<\/title>\n<meta name=\"description\" content=\"Tether (USDT), the company operating the blockchain-enabled platform that powers the largest stablecoin by market capitalization.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/tether-stablecoins-are-launching-on-high-speed-avalanche-network\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tether stablecoins are launching on high-speed Avalanche network\" \/>\n<meta property=\"og:description\" content=\"Tether (USDT), the company operating the blockchain-enabled platform that powers the largest stablecoin by market capitalization.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/tether-stablecoins-are-launching-on-high-speed-avalanche-network\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-18T13:00:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-17T22:53:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/tether-avalanche.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaurya Malwa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaurya Malwa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/tether-stablecoins-are-launching-on-high-speed-avalanche-network\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/tether-stablecoins-are-launching-on-high-speed-avalanche-network\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#person\",\"name\":\"Shaurya Malwa\",\"url\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"caption\":\"Shaurya Malwa\"},\"jobTitle\":\"Analyst\",\"description\":\"Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. 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