USDT is a stablecoin released by Tether Limited. Its exchange rate is tied to USD and the company says it’s fully backed by USD.
Initially, it was launched on the OMNI protocol, which is a layer on the Bitcoin blockchain, and it has the same transaction speeds and fees.
Later, USDT was released on the Ethereum blockchain as an ERC-20 token, which lowered fees and sped up transactions, also allowing it to be used in smart contracts.
Where and how you can get ERC-20 USDT
- The popular exchange Binance (crypto or fiat)
- The decentralized exchange Uniswap
- The website of the Tether Limited issuer (KYC required)
USDT to Minter
USDT on Minter is a wrapped USDT of the ERC-20 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 ERC-20 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, wrapped tokens on Minter are released in packets (they won’t exactly be 1:1 accurate with the supplying coins on Ethereum). But only the 100%-backed amount will be allowed to circulate on Minter, the rest will be on the hot and cold wallets, 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 quantity 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 time 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 circulating on Minter is:
10 000 000 000 - 9 999 000 000 - 619 886.02 = 380 113.98 USDTE (rounded to 2 decimal places)
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 on 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 low fees ($0.01 for a transfer and $0.03 + 0.2% for a conversion). You can learn about other advantages Minter has on a corresponding page in our database.
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