Ethereum, an open-source platform for decentralized applications, will celebrate its fifth anniversary in a few days. It is thus that the focus as shifted to USDT and DeFi.
Speaking to Cointelegraph, Chief Technology Officer (CTO) of Bitfinex and Tether, said that DeFi can translate to more DeFi financing products and projects. He also added that USDT is among the biggest and fastest-growing stablecoins in DeFi.
“We hope that the recent surge of DeFi can translate to more DeFi financing products and projects that will truly shape industry developments in a decentralized manner,“ Ardoino said.
“USDT is among the biggest and fastest-growing stablecoins in DeFi and we will ensure that Tether continues to play an important role in supporting this alternative financial system and remains the reserve currency of DeFi.”
USDT has big share in the market in the recent times. It has captured around 78% of the Ethereum-based stablecoins.
According to Cointelegraph, the addition of the sidechain could lead to cheaper transactions as they reached two-year highs in June.
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