Tether will cease to support the implementations of EOS and Algorand and instead focus on supporting community-oriented protocols and chains. Furthermore, they will concentrate on the development of use cases for USDT on each protocol in collaboration with community members.
Tether has always remained focused on bringing about a strong and inventive blockchain ecosystem, in the case of USDT, as well as various other tokens released by them. To accomplish this objective, they conduct regular assessments of their current transportation surfaces to guarantee that sustainability, utilization, and the community’s advantages are concurrent.
While linking USDT with specific blockchains, Tether’s primary focus is on the community benefits. In order to guarantee the safety, usability, and sustainability of the selected blockchain, they meticulously assess the network’s security architecture. Their objective is to distribute resources in a manner that maximizes security and efficiency, while simultaneously fostering innovation throughout the crypto sphere.
Tether will cease to provide support for the EOS and Algorand implementations following a comprehensive evaluation. However, they will persist in their support of the protocols and chains that the community deems beneficial, and they will also encourage the community to broaden the use cases of USD₮ on each protocol.
From June 24, 2024, Tether will cease minting USD₮ on EOS and Algorand. USD₮ will be redeemed on EOS and Algorand as usual by Tether for the next 12 months. Around that time, additional modifications may be assessed and communicated.
The community members pledge to execute the switchover with meticulous attention to detail and in a seamless manner. They are also committed to providing a smooth user experience and initiating a troubleless change. Their way forward lies in creating a further, maintainable, and democratized financial mechanism for all.