…The three blockchains are OmniLayer, BCH-SLP and Kusama
Tether has announced the discontinuation of support for the Kusama, Bitcoin Cash SLP, and Omni Layer implementations as part of their commitment toward maintaining a robust blockchain ecosystem for USD₮ and all other tokens they issue.
Tether said the ‘strategic transition aims at ‘meeting community demands and foster innovation’.
Paolo Ardoino, the CTO, also explained the reason for this via a tweet on the X platform, and he can be quoted as saying:
“Today #Tether announces the ending of the support of 3 blockchains $USDt: OmniLayer, BCH-SLP and Kusama.
Customers will be able to continue to redeem and swap $USDt tokens (to another of the many supported blockchains), but Tether won’t issue any new additional $USDt on those 3 blockchains.
Continuing Ardoino said: “This decision pains our hearths especially in reguards to the Omni Layer, Tether $USDt initial transport layer back in 2014. Over the years, the Omni Layer faced challenges due to the lack of popular tokens and the availability of $USDt on other blockchains.
This led many exchanges to favor alternative transport layers, leading to a decline in $USDt usage on #Bitcoin using the Omni Layer.
A key factor in deciding to bring USD₮ to a specific blockchain is the level of community interest.
Tether said they carefully evaluate the effort required, encompassing security, customer support, compliance, and regulatory oversight, to ensure the security, usability, and sustainability of the chosen blockchain.
If a blockchain lacks significant traction over an extended period and shows no signs of recovery in usage indicators, maintaining support becomes inefficient and may jeopardize security and oversight.
Therefore, after careful consideration, Tether will embark on a strategic transition, discontinuing support for the Kusama, Bitcoin Cash SLP and Omni Layer implementations.
“Yet we want to emphasize that Tether’s team is rooted in the belief of leveraging the most secure, audited, and decentralized blockchain ever built: #Bitcoin”, a statement by Tether reads.
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