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Only 5 days have passed since the USDT launch on TEZOS. Where to use it?
On July 21, during #tezdev, an official USDT launched with an initial issue of 31 million tokens took place. We look at how the community began to use USDT.
USDT in Defi on Tezos
The Youves team almost immediately after the announcement of Tether launched a vote for using USDT. Although the community has accepted the proposal, USDT has not yet appeared in the Minting menu UUSD. But it can already be exchanged for UUSD via Flat Curve. https://gagarin.news/ru/news/bonuses-for-voluntary-quitting-block-fi-begins-new-staff-reductions/ The liquidity of the pool is 39 thousand USDT and 31 thousand UUSD, and LP can be added to the farm with reward in You.
But on Youves already there is a SIRS token – we will talk about it in the following material.
KUSD/USDT and USDT/USDT farms with an annual yield of 40% and 34%, respectively, appeared on Plenty. Liquidity of pools: 8.8 thousand KUSD and 31 thousand USDT, 24.8 thousand UUSD and 21.8 thousand USDT, respectively.
On Quipuswap, users created the TEZ/USDT pool. Liquidity is relatively small: 1 thousand TEZ and 1.6 thousand USDT. In addition to it, there is an EURL/USDT pool with almost zero liquidity.
ATOMEX wallet added atomic swaps from USDT on Tezos.
SPICYSWAP and Vortex have not added USDT yet, that is, users cannot independently create pools with it.
USDT on Bitfinex
BITFINEX – centralized exchange with mandatory KYC, #9 in the CoinmarketCap and #10 rating in the Coingeco rating. The average daily spinal trade in the BTC/USDT pair for the last three months is 1 thousand BTC or $ 22 million at the current rate.
July 21, she added deposits and the USDT output to Tezos. When trading, all USDTs are unified, that is, you can make a deposit to the USDT ERC-20, bargain in futures, and then make a profit to the USDT on Tezos.
ONCHIN-DAY on USDT
According to TZKT.IO USDT emission is $ 31 million, but the number of holders is only 65. In fact, there are more of them: Tzkt does not take into account the “former” holders who bought USDT and brought all tokens to the liquidity pools.
Interesting point: 30 million tokens controls the address of the TZ2 format. Most likely, this is a wallet of a large base, exchanges or Tether itself. TZ2 addresses use the “old” Elliptical SECP256K1 curve compatible with most cloud hardware security modules (Cloud HSM), that is, industrial analogues of Ledger. The usual TZ1 addresses use another ED25519 curve, which is poorly supported by HSM.
If you discard one clearly corporate holder with $ 499 thousand and the Bitfinex exchange wallet with $ 379 thousand, then the regular TEZOS users account for $ 122 thousand USDT or $ 2000 per person per person. A good indicator of interest: the average KUSD and UUSD user owns $ 577 and $ 1270, respectively.
USDT launch conclusions
While we were looking for information and wrote the material, the number of ordinary Tether holders on tzkt.Io increased, and several thousand USDT increased in the pools. TEZOS users are clearly of interest in the largest stablecoin.
We hope that the USDT will soon support other cool Tezos projects, and this moment will indicate the end of the current bear market.
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