USDT is a stablecoin released by Tether Limited. Its exchange rate is tied to USD and the company says it’s fully supplied by USD.
Initially it was launched with the OMNI protocol, which is a layer on the Bitcoin blockchain, and it has the same transaction speed and the same fee.
Later USDT was released on the Ethereum blockchain as an ERC20 token, which lowered fees and sped up transactions with the stablecoin, which also allowed it to be used in smart contracts.
Where and how you can get USDT ERC20
- The popular exchange Binance (crypto or fiat)
- On the decentralized exchange Uniswap
- On the website of the Tether Limited issuer (KYC required)
USDT to Minter
USDT on Minter is a wrapped USDT of the ERC20 format that has more advantages thanks to the nature of Minter.
On the Minter blockchain the Tether stablecoin has the ticker USDTE and is fully supplied by ERC20 USDT.
USDTE tokens on Minter
USDTE hot wallet —
USDTE cold wallet —
USDT tokens on Ethereum (supplying USDTE on Minter)
USDT hot wallet —
USDT cold wallet —
To minimize fee expenses, on Minter wrapped tokens are released in packets (they won’t exactly be 1:1 accurate with the supplying coins on Ethereum). But only the 100% supplied amount will be allowed to roam on Minter, the rest will be on the hot wallet and the cold wallet, which are controlled with multisigs.
It doesn’t affect security and reliability, since minting and burning wrapped tokens on Ethereum is also managed by multisigs and they can be minted or burned at any moment upon reaching a required amount of votes. In this case Minter has an advantage over Ethereum as it doesn’t spend any money at all on fees.
The first packet of USDTE on Minter consists of 10 000 000 000 USDTE.
At the moment of writing the cold wallet has 9 999 000 000 USDTE.
Meanwhile the hot wallet has 619 886.02 USDTE
That means the amount of USDTE roaming on Minter is:
10 000 000 000 - 9 999 000 000 - 619 886.02 = 380 113.98 USDTE (rounded down to 2 characters after the period)
Meanwhile the hot wallet balance which contains the USDT that supply the USDTE on Minter contains 44 084.98 USDT (rounded down to 2 characters after the period), and the cold wallet has 36 029 USDT. Which in total makes 380 113.98 USDT.
Liquidity pools with USDTE
By clicking on a pair you can see all the basic liquidity information, token price correlation, daily trade volume, daily fee amount received by liquidity providers and the current APY — yearly profitability.
And on the page of the pair at Chainik you can also track the price change graph.
USDT cross-chain transfer
You can learn about transferring USDT and other tokens from Ethereum to Minter and back at our page about cross-chain transfers.
Advantages of USDT on Minter
The advantages of having a wrapped USDT, like other tokens on Minter, lie in the blockchain’s possibilities — first off, the transaction speed (less than 5 seconds) and the low fees ($0.01 for a transfer and $0.03 + 0.2% for a conversion). You can learn about other advantages Minter has at a corresponding page on our database.
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