dailyhodl.com
The firm behind the largest US dollar-pegged stablecoin by market cap will soon be launching on another layer-1 blockchain.
According to a new announcement from Tether, $USDT will soon be available on Aptos ($APT), a high-speed Ethereum (ETH) rival blockchain built for scalability.
Recent data highlights significant ecosystem growth; average daily active users increased from 96K in January to 170K in July of 2024. Additionally, a record-breaking 157 million transactions were processed in a single day in May 2024.”
Aptos utilizes a Proof-of-Stake (PoS) consensus mechanism, in which validators stake their $APT tokens to secure the network. The blockchain processes transactions in parallel, aiming to enhance efficiency and speed.
According to the announcement, $USDT gas fees on Aptos will cost less than a penny.
Says Bashar Lazaar, Head of Grants & Ecosystem at Aptos Foundation, of the new partnership:
“We’re building a strong, global, and institution-grade DeFi and payments ecosystem that values speed, decentralization, and interoperability while leveraging Move on Aptos to make it all work.
The launch of $USDT on Aptos accelerates the availability and utility of real-world value for institutions, Web3 builders, and regular people worldwide.”
Generated Image: Midjourney