Tether Announces Strategic Transition to Prioritize Community-Driven Blockchain Support

At Tether, we are deeply committed to maintaining a robust and innovative blockchain ecosystem for USD₮ and all other tokens we issue. To uphold this commitment, we constantly assess current transport layers, striving to strike a balance between maintainability, usage, and community interest.

Community interest plays a pivotal role when we bring USD₮ to specific blockchains. We carefully evaluate the network’s security architecture to ensure the safety, usability, and sustainability of the chosen blockchain. Our goal is to allocate resources where they can best enhance security and efficiency while continuing to support innovation across the crypto landscape.

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

We will continue to support the protocols and chains that the community finds useful and encourage the community to expand the use cases of USD₮ on every protocol.

The transition will proceed as follows:

  • Tether will stop minting USD₮ on EOS and Algorand starting today, June 24, 2024.
  • Tether will continue to redeem USD₮ on EOS and Algorand as usual for the next 12 months. Further changes may be evaluated and announced around that time.

We assure our community that this transition will be executed meticulously and with minimal disruption. Our top priority remains delivering a seamless user experience, and we are committed to facilitating a hassle-free transition. We sincerely appreciate your continued support and trust in Tether. Together, we are paving the way for a more sustainable and democratized financial system for the entire world.

Updated: 9 July 2024

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