Tether Launches EURT Token

The new token will be issued via the Ethereum blockchain and will be compatible with the ERC20 standard
08 January 2018   3082

Tether, creator of a USDT token, has announced the creation of a euro tether (EURT) that is issued over the Ethereum blockchain and will be compatible with the ERC20 standard.     

According to the company, the Ethereum-based tether allows for tokenized USD and EUR to be transferred over the Ethereum network. This enables compatibility with Ethereum-based protocols and Decentralised Applications (DApps) whilst allowing users to transact and exchange fiat pegged currencies across the Ethereum Network.

Tether Limited believes that the compatibility with the ERC20 will lower network fees and much faster confirmation times resulting that will will create far more liquidity and exchange arbitrage.

The company also said it has completed two audits of the codebase and contracts using Zeppelin Audits and Phil Daian as third-party auditors. According to the inspections, there were no critical or high severity issues found and recommended some medium severity solutions. Phil Daian stated that if the company follows the recommendations, the ERC20 Tether contracts "will launch in a well tested, secure state".

At the moment of press, these are main market parameters of Tether:

  • Average price: $1,0
  • Marketcap: $1 473 169 427
  • 24h volume: $2 490 620 000 USD

Tether to Updated the USDT "100% Backed" Policy

Now, “reserves ... from time to time, may include other assets and receivables from loans made by Tether to third parties"
14 March 2019   145

The USDT token linked to the US dollar, as was assumed until recently, is fully secured with hard currency. However, the latest revision on the website of the issuer of stablecoin of Tether company says that the situation is now different.

The 100% Backed section at Tether websites says: “reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”)."

At the same time, the company insists that each token is still pegged to the USD in the ratio of 1x1.

Earlier, Tether stated that all USDT coins are 100% secured by the US dollar. In part, these allegations at the end of last year were confirmed by the Bloomberg publication.

The new edition on the Tether website has already been commented on by users of Reddit. According to Toyake, you can now officially say that the USDT is not 100% guaranteed by the US dollar.