Tether announces strategic shift to prioritize support for community-driven blockchains
Tether announced its strategic shift to prioritize supporting community-driven blockchains in order to maintain a strong and innovative ecosystem for USD₮ and other tokens. Tether stated that they will continually assess the current transport layer, striving to strike a balance between maintainability, usage, and community interest. After careful consideration, Tether has decided to cease support for EOS and Algorand implementations. The specific transition arrangements are as follow - Starting June 24, 2024, Tether will stop minting USD₮ on EOS and Algorand. - Tether will continue to redeem USD₮ on EOS and Algorand over the next 12 months and may assess and announce further changes during this period.
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