Tether Announces Strategic Transition to Prioritize Community-Driven Blockchain Support

Tether Announces Strategic Shift to Prioritize Community-Driven Blockchain Support

At Tether, we are committed to maintaining a robust and innovative blockchain ecosystem for USD₮ and all other tokens we issue. To maintain this commitment, we are constantly evaluating our current transport layer, striving to balance maintainability, usability, and community interest.

Community interest plays a vital role in deploying USD₮ on a particular blockchain. We carefully evaluate the security architecture of our networks to ensure the blockchain we choose is secure, usable, and sustainable. Our goal is to allocate resources where we can continue to support innovation across the cryptocurrency world while maximizing security and efficiency.

After careful consideration, Tether will discontinue support for EOS and Algorand implementations.

We will continue to support protocols and chains that the community finds useful and encourage the community to expand use cases for USD₮ across all protocols.

The migration proceeds as follows:

  • Effective today, June 24, 2024, Tether will stop issuing USD₮ on EOS and Algorand.
  • Tether will continue to offer USD₮ redemption on EOS and Algorand as usual for the next 12 months, at which time further changes may be considered and announced.

We assure our community that this transition will be carried out with the utmost care and with minimal disruption. Our number one priority is providing a seamless user experience, and we are committed to ensuring a smooth transition. We sincerely thank you for your continued support and trust in Tether. Together, we will pave the way towards a more sustainable and democratized financial system for the entire world.

Updated: July 9, 2024

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