Since their introduction, cryptocurrencies have earned a reputation for their extreme price volatility. This has led us to one of blockchain’s primary and most successful use cases: stablecoins. Recently, stablecoins have been in the limelight. They are experiencing rapid growth and finding increasing utility across various global applications. Specific well-established stablecoins now play a pivotal role in ensuring liquidity within cryptocurrency markets.
Today, the industry’s premier stablecoin by usage is Tether’s USDT. It is natively issued on more than a dozen blockchains and bridged to dozens more by industry-leading cross-chain bridges like Wanchain. Describing the cryptocurrency industry as running on USDT is only slightly hyperbolic. Indeed, many don’t know that USDT is the single most actively traded cryptocurrency in the world.
Despite this market leadership, stablecoins have yet to become a practical means of payment in the real economy. Reasons for this include speed, cost, and redemption terms and conditions. A particular challenge lies in the decentralised movement of USDT from one blockchain to another.
Enter: Wanchain’s USDT XFlows
A better way to bridge: USDT XFlows by Wanchain
USDT XFlows is a decentralised cross-chain solution. It enables native-to-native cross-chain transformations between blockchains for USDT. Specifically, USDT XFlows makes it easy for users to move USDT between blockchains where USDT is natively minted by Tether or where there is a native-equivalent USDT present. XFlows leverages the power of Wanchain’s unmatched cross-chain infrastructure to provide fast, easy, and cheap non-custodial USDT transfers between chains without the need for centralised exchanges.
In other words, when using USDT XFlows to move native USDT between chains, the user always receives the native USDT they need on the destination chain!
USDT XFlows is currently live on Arbitrum, Astar, Avalanche, BNB Chain, Ethereum, OKT Chain, Optimism, Polygon, Metis, Tron, and the Wanchain L1 blockchain.
USDT on Ethereum and Tron
Tether has been significantly increasing USDT token issuance over the past year. As of this writing, more than 85 Billion USDT have been minted on the Tron and Ethereum blockchains alone. This represents the vast majority of all USDT across all chains. Shockingly, there are limited options for users to move their USDT between Ethereum and Tron without relying on centralised exchanges or exposing themselves to large fees and slippage. The best option is undoubtedly Wanchain’s USDT XFlows, which supports both small and large transactions.
USDT on BNB Chain and Polkadot
USDT on BNB Chain and Polkadot are special cases. Binance mints USDT (as Binance-Peg BSC-USD) on BNB Chain. Binance-Peg BSC-USDT is backed by Binance’s own USDT reserves.
Tether issues USDT on Polkadot’s “common good” generic asset parachain, Statemint. XCM is Polkadot’s cross-consensus communication protocol. Using XCM, native USDT can transfer to parachains like Astar as “xcUSDT”. Due to their unique origins, acquiring USDT on these chains can be confusing. Wanchain’s USDT XFlows simplifies things for users by offering full compatibility with both Binance-Peg BSC-USDT and xcUSDT.
USDT on Ethereum Layer 2s
Arbitrum, Metis, Optimism, and Polygon are all Ethereum scaling solutions. These are built on top of the Ethereum blockchain and inherit Ethereum’s existing security apparatus. USDT on these Layer 2 networks is minted by the official Layer 2 bridges. Though secure, these official Layer 2 bridges are slow and expensive. Cross-chain transactions using these bridges can take more than a week to complete. Even worse, they are limited to transactions between themselves and Ethereum. This makes moving USDT between the various Layer 2 networks a complicated and costly affair requiring transactions on Ethereum – This defeats the purpose of using a Layer 2 network in the first place! Wanchain’s USDT XFlows enables direct Layer 2-to-Layer 2 transfers of USDT to keep costs low.
Wanchain’s USDT XFlows is the best solution to move USDT from one blockchain to another without sacrificing decentralisation. It is suitable for all sizes of transactions and has unmatched flexibility to make things as seamless as possible for users. So why wait? Try USDT XFlows today at https://bridge.wanchain.org/.
Unsure how to use USDT XFlows? Check out the written or video guide!
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This post is sponsored by Wanchain.
Copyright Altcoin Buzz Pte Ltd.
