Tether (USDt) will be the first stablecoin to launch on Solana, an ultra high-speed Layer 1 blockchain, according to an official media release.
According to Solana, USDt holders will be able to exchange USDt at speeds greater than 50,000 transactions per second – often for less than $0.00001 per transaction – on the Solana network.
USDt’s integration into the Solana network will facilitate the building of ultra high-speed, low-cost decentralized finance (DeFi) applications. In addition to Solana, USDt also supports Algorand, Ethereum, EOS, Liquid Network, Omni, Tron and Bitcoin Cash’s Standard Ledger Protocol.
Solana is one of the fastest-growing blockchains by both market capitalization and use. Project Serum, a fully functional decentralized exchange with trustless cross-chain trading backed by FTX and Alameda Research, Torus, a seamless key management system, and Chainlink, the leading decentralized oracle network, have all announced planned integrations with Solana. For more information, please visit solana.com.