Tether scraps plan to freeze USDT on five blockchains
Tether has scrapped plans to end USDT on Omni, Bitcoin Cash SLP, Kusama, EOS and Algorand, allowing it to continue in a limited capacity.
Stablecoin issuer Tether has abandoned its plan to freeze USDT smart contracts on five chains, saying the tokens will remain transferable but no longer be issued or redeemed.
The revised plan impacts users on Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand, Tether said on Friday after receiving feedback from members of these ecosystems. “Following the feedback from the communities of these discontinued blockchains, Tether has revised this approach and will not freeze the smart contracts on these networks.”
While users will still be able to transfer tokens on these blockchains, Tether is discontinuing direct issuance and redemption on these chains. “This means the tokens will no longer be officially supported as other Tether tokens.” The initial plan was to end support on Sept. 1.
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