USDT

USDT

TetherUS
$1.00
0%
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  • Market Cap
    $4,651,652,149
  • 24h Vol (Global)
    ฿3,914 ($34,119,986)
  • Circulating Supply
    4,642,367,414
  • Issue Date
    2014-11-26
  • Issue Price
    -
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Max SupplyCirculating SupplyIssue DateIssue PriceConsensus ProtocolExplorer
-4,642,367,4142014-11-26-pow1
omniexplorer.info
Total SupplyCryptographic AlgorithmSource CodeWhite PaperWebsiteType
2,580,109,502--https://tether.to/TOKEN

General Data and Information Announced in July 2014 by Brock Pierce, Reeve Collins and Craig Sellars as Realcoin, Tether (USDT) is the most popular and liquid stablecoin in the crypto-currency ecosystem. It is a token that was first issued on the Bitcoin blockchain using the Omni Layer platform, however it has since been launched as a token on various other blockchains (Ethereum, Tron, EOS and Algorand). Each token represents a claim (redeemable) against a single fiat US dollar held by Tether (the company). As the fiat reserves backing the tokens are held in the traditional banking system, it can be difficult to maintain transparency about the value of such reserves. Tether attempts to provide transparency about the full reserve (not fractional reserve) by issuing statements from accountants with visibility into the reserve banking accounts which are then matched against the publicly visible token issuances on the various blockchains. Milestones July 2014 - Realcoin announced by Pierce, Collins and Sellars. 6th October 2014 - First tokens issued on the Bitcoin blockchain via the Omni Layer. 20th November 2014 - Renamed to “Tether”. January 2015 - USDT trading enabled on Bitfinex, other crypto exchanges follow suit. 5th January 2018 - USDT tokens supported on Ethereum. 27th November 2018 - Direct customer (non-exchange) fiat redemption enabled. 4th March 2019 - USDT tokens supported on TRON. 31st May 2019 - USDT tokens supported on EOS. 29 th July 2019 - USDT tokens supported on Liquid Network. Utility Designed to be backed 1:1 by fiat (US dollars), Tether tokens (USDT) are minted or burnt (destroyed) as the reserves held by Tether (the company) increase (via deposits) or fall (via claims against the tokens). In this way, Tether tokens are seen as a stable store of value in an otherwise highly volatile crypto-currency ecosystem. The advantage in holding Tether is that it removes the friction in exiting fully into the banking system (with time delays and additional fees required for processing), allowing traders to quickly re-establish positions and react to sudden changes in market movements. Significant Features - Redeemable for a single fiat US dollar from Tether (the company). - No requirement to exit into the banking system (with associated time lag and fees), whilst retaining a relatively stable US dollar peg, making USDT a point of stability in volatile cryptocurrency markets. References: https://tether.to/ https://wallet.tether.to/transparency https://en.wikipedia.org/wiki/Tether_(cryptocurrency) https://en.bitcoinwiki.org/wiki/Tether https://www.investopedia.com/terms/t/tether-usdt.asp https://blogs.wsj.com/moneybeat/2014/07/08/dollar-backed-digital-currency-aims-to-fix-bitcoins-volatility-dilemma/

Teams
    STUART HOEGNER

    STUART HOEGNER

    GENERAL COUNSEL

    GIANCARLO DEVASINI

    GIANCARLO DEVASINI

    CHIEF FINANCIAL OFFICER

    JL VAN DER VELDE

    JL VAN DER VELDE

    CHIEF EXECUTIVE OFFICER

Introduction

General Data and Information Announced in July 2014 by Brock Pierce, Reeve Collins and Craig Sellars as Realcoin, Tether (USDT) is the most popular and liquid stablecoin in the crypto-currency ecosystem. It is a token that was first issued on the Bitcoin blockchain using the Omni Layer platform, however it has since been launched as a token on various other blockchains (Ethereum, Tron, EOS and Algorand). Each token represents a claim (redeemable) against a single fiat US dollar held by Tether (the company). As the fiat reserves backing the tokens are held in the traditional banking system, it can be difficult to maintain transparency about the value of such reserves. Tether attempts to provide transparency about the full reserve (not fractional reserve) by issuing statements from accountants with visibility into the reserve banking accounts which are then matched against the publicly visible token issuances on the various blockchains. Milestones July 2014 - Realcoin announced by Pierce, Collins and Sellars. 6th October 2014 - First tokens issued on the Bitcoin blockchain via the Omni Layer. 20th November 2014 - Renamed to “Tether”. January 2015 - USDT trading enabled on Bitfinex, other crypto exchanges follow suit. 5th January 2018 - USDT tokens supported on Ethereum. 27th November 2018 - Direct customer (non-exchange) fiat redemption enabled. 4th March 2019 - USDT tokens supported on TRON. 31st May 2019 - USDT tokens supported on EOS. 29 th July 2019 - USDT tokens supported on Liquid Network. Utility Designed to be backed 1:1 by fiat (US dollars), Tether tokens (USDT) are minted or burnt (destroyed) as the reserves held by Tether (the company) increase (via deposits) or fall (via claims against the tokens). In this way, Tether tokens are seen as a stable store of value in an otherwise highly volatile crypto-currency ecosystem. The advantage in holding Tether is that it removes the friction in exiting fully into the banking system (with time delays and additional fees required for processing), allowing traders to quickly re-establish positions and react to sudden changes in market movements. Significant Features - Redeemable for a single fiat US dollar from Tether (the company). - No requirement to exit into the banking system (with associated time lag and fees), whilst retaining a relatively stable US dollar peg, making USDT a point of stability in volatile cryptocurrency markets. References: https://tether.to/ https://wallet.tether.to/transparency https://en.wikipedia.org/wiki/Tether_(cryptocurrency) https://en.bitcoinwiki.org/wiki/Tether https://www.investopedia.com/terms/t/tether-usdt.asp https://blogs.wsj.com/moneybeat/2014/07/08/dollar-backed-digital-currency-aims-to-fix-bitcoins-volatility-dilemma/

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