Tether.to, the company operating the blockchain-enabled stablecoin platform, announced it will launch Tether tokens on Tezos, the upgradable proof-of-stake (PoS) blockchain.
“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.
Upgrades have decreased gas costs and lowered carbon footprint, plus most recently, upgrades even replaced Tezos’ consensus mechanism with Tenderbake, a modified BFT algorithm similar to Cosmos’ Tendermint. Tezos is set to continue its track record with its next update which will introduce smart contracts and optimistic roll-ups to its network.
Tezos has a growing DeFi ecosystem which includes yield farming protocol Youves, decentralized exchange and EVM bridge Plenty, and more. Upon successful integration, Tether will be the largest stablecoin by market capitalization available within the Tezos network.
As of this latest integration, USD₮ works across a variety of different blockchains, including now Tezos, plus Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Polygon, Tron, Solana, and Statemine.