In response to user feedback, stablecoin leader Tether made a strategic move. Tether announced it would stop supporting Kusama, Bitcoin Cash SLP, and Omni Layer. The conclusion was made after an extensive examination of the dynamic blockchain ecosystem.
Tether Leaves Room to Reconsider Support Decisions
Tether makes decisions to foster a stable blockchain ecosystem. The organisation prioritises a strong blockchain infrastructure to assure the stability and reliability of its USD and other currencies. Periodic analyses of transportation layers have taken maintenance convenience, user input, and traffic volume into account due to this effort.
The blockchain community’s interest and engagement heavily influence Tether’s choice to embrace certain blockchains. The company evaluates security, compliance, regulatory monitoring, and customer support. Supporting a blockchain system without regular momentum and utilisation could endanger its security and governance.
After careful consideration, Tether has decided to stop supporting Kusama, Bitcoin Cash SLP, and Omni Layer. This choice was made since various blockchains have struggled to gain general acceptance and maintain a high USD trading volume.
Omni Layer was Tether’s first transport layer in 2014; hence, its discontinuation is significant. Tether acknowledges the Omni Layer team’s early contributions to Tether’s development.
Bitfinex to Facilitate Swapping USD-Omni, USD-Kusama, and USD-BCH-SLP
Tether is willing to reconsider its position in the future, despite its firm decision. Tether may reconsider issuing USD on Bitcoin via the Omni Layer if its decentralized exchange and token issuance technology gains popularity.
 The company actively engages in RGB, a Layer 2 and 3 Bitcoin ecosystem system focused on state and smart contracts. The partnership shows Tether’s commitment to digital asset scalability and innovation. It emphasises market determination for value transfer technologies and blockchains. The company supports the most popular chains and protocols and encourages creative USD use in numerous scenarios. Marketplaces like Bitfinex will continue to swap USD-Omni, USD-Kusama, and USD-BCH-SLP with other blockchain networks.
