Stablecoin issuer Tether has scrapped its plan to freeze USDT smart contracts on five blockchains: Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand. Initially, support was scheduled to end September 1. Instead, tokens on these chains will remain transferable, though no new issuance or redemption will be offered.
The reversal came after receiving feedback from communities in the affected ecosystems. Tether emphasized its strategy is to focus on blockchains with strong developer activity, scalability, and high user demand. Currently, Ethereum and Tron dominate USDT usage, hosting $72.4 billion and $80.9 billion in supply respectively. BNB Chain follows with $6.78 billion, according to DefiLlama.
While tokens on discontinued chains will persist, Tether stressed they will no longer receive full support. The decision reflects a broader realignment toward thriving ecosystems like Ethereum, Tron, Solana, and newer layer-2 solutions, which underpin the bulk of stablecoin activity in today’s market.
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