USDT on Polygon
Polygon announced that Tether will now offer its USDT stablecoin tokens on Polygon. The stablecoin is now active on a total of eleven networks, including Kusama, Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, Tron, and Bitcoin Cash’s Standard Ledger protocol.
The addition of USDT on Polygon is a milestone moment as it offers a new stablecoin option for more than 8,000 teams building on Polygon. Tether is set to play an essential role in supporting Polygon’s DeFi ecosystem. It will alleviate the potential negative effects associated with market volatility by providing investors with a stable currency to generate returns and get in and out of the network
Polygon is a “Layer 2” scaling solution that runs on the Ethereum blockchain, enabling fast transactions and low fees. Currently, there are more than 19,000 decentralized applications (dApps) running on its network, a 500 percent increase from 3,000 dApps in October, according to data from Alchemy . According to the network , its PoS has processed over 1.6 billion total transactions, with over 142 million unique user addresses and over $5 billion in safeguarded assets.
Polygon PoS launches Usdt
There are 8,000 active monthly teams building on Polygon PoS, up from about 6,000 in January. Many projects choose to build exclusively on Polygon. Data from Alchemy show that 65 percent of teams have integrated exclusively on Polygon, compared to 35 percent deployed on Ethereum. The figures include dApps running on both testnet and mainnet.
“We are excited to launch USD₮ on Polygon, offering its community access to the most liquid, stable and reliable stablecoin in the digital token space,” said Paolo Ardoino, CTO of Tether. “The Polygon ecosystem has witnessed historic growth this year and we believe Tether will be essential in helping it continue to thrive.”
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Independent researcher and consultant, Tech Writer at Blockchain Technology. From Italy