TechFlow news, August 30 — According to Cointelegraph, stablecoin issuer Tether announced it has abandoned its plan to freeze USDT smart contracts on five blockchains—Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand—following feedback from ecosystem participants. Users can still transfer tokens on these blockchains, but Tether will cease direct issuance and redemption on these chains.
Among them, Omni Layer is the most significantly affected chain, currently holding $82.9 million in USDT, while participation on the other networks is relatively minor.
Tether had previously announced in August 2023 its intention to stop issuing USDT on Omni Layer, Kusama, and Bitcoin Cash SLP, and suspended minting on EOS and Algorand in June 2024.
Currently, Tether offers the strongest support on Tron and Ethereum, with USDT circulation reaching $80.9 billion and $72.4 billion on these two chains respectively.
