Tether, the issuer of the stablecoin USDT, yesterday stopped issuing the asset on the Kusama, Bitcoin Cash SLP and Omni Layer blockchains.
Company representatives have explained:
"If a blockchain lacks significant traction over an extended period and shows no signs of recovery in usage indicators, maintaining support becomes inefficient and may jeopardize security and oversight."
The company will continue to buy tokens from these networks for at least a year. Users can also exchange coins for USDT from other blockchains through various exchanges.
Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world
The Omni project was the first protocol Tether used to issue stablecoins on the Bitcoin network. The firm reserved the option to reconsider this project in the future.
Representatives of the company have indicated they are still involved in the development of RGB smart contracts, which allow building 2 and 3 levels on top of the Bitcoin blockchain.