Tether to Launch USDT in Blockstream's Liquid Network

Thanks to this, ecosystem participants will be able to make fast and secure payments using Confidential Transactions technology
30 July 2019   907

A leading supplier of Bitcoin and Blockchain solutions, the company Blockstream and Tether have launched USDT in the Liquid Network.

The Blockstream blog says that thanks to this step, ecosystem participants will be able to make fast and secure payments using Confidential Transactions technology, which is oriented towards increased privacy, as well as multi-signature functions. In addition, investors and traders will be able to carry out atomic swaps between Liquid BTC and Stablecoin, and will also be able to replenish their exchange USDT wallets more quickly.

The input and output of Liquid USDt is already available on the Bitfinex exchange. Support for other trading platforms, including BTSE, BTCTrader / BtcTurk, OKEx, OKCoin, RenrenBit and Sideshift AI, will appear soon.

According to the developers, Blockstream Green wallet is suitable for storing Liquid USDt. They also promise to soon add support for the new asset to Trezor hardware wallets.

Tether’s launch on Liquid coincides nicely with the recent surge of interest in the Liquid Swap Tool. The Liquid Swap Tool is an open source application that allows traders to execute atomic swaps with their counterparties, exchanging any Liquid-based asset for another.
 

Samson Mow

Blockstream team

In the future, Blockstream and Tether plan to launch USDT tokens on the second-tier Lightning Network.

Liquid is a federated sidecoin of Bitcoin, functioning as a settlement and payment network for cryptocurrency exchanges, market makers, brokers and other financial institutions.

Atomic swaps are the operations of exchanging one cryptocurrency for another, which can be implemented instantly without having to rely on a trustworthy third party represented by the exchange or exchange platform. As a result, control over the transaction is carried out exclusively by the parties involved in it.

Tether to Report on Integration With Aave

One of the first steps in expanding in DeFi space is cooperation with Aave, non-custodian crypto-lending platform, formerly known as ETHLend
11 March 2020   256

Tether Technical Director Paolo Ardoino spoke at the Digital Asset Summit event and revealed his company's plan to expand in the decentralized finance (DeFi) space. Ardoino said that DeFi platforms have shown significant interest in the Tether stablecoin and are ready to work with its issuer.

The first such agreement was signed with non-custodian crypto-lending platform Aave, formerly known as ETHLend. The parties to the agreement intend to “ensure wider adoption of Tether (USDT) as a financial instrument in the nascent ecosystem of decentralized finance.”

In particular, we are talking about the so-called instant loans, when the user can receive funds without collateral, but must return them in the same block with which they were provided to him. Public attention to this new type of lending was attracted after attacks on the bZx platform. Companies note that it also finds many useful areas of application, for example, in arbitration on the blockchain or when moving trading positions between DeFi platforms.

I believe that DeFi is one of the most promising markets or technologies that are rising at the moment. The entire ability of having on-chain exchanges and loan issuance is a key element of growth for the entire crypto system. [...] It’s normal for Tether to try to lead the space or be the most-used stablecoin in the space.

 

Paolo Ardoino

Tether Technical Director

The interest rate on such deposits can vary significantly over time. Shortly after adding USDT to the Aave platform, it was 12%.