eosfinex and Bitfinex Bring Tether Stablecoin to EOS Ecosystem
4 October 2019
We are pleased to announce our completion of a chain swap to convert $5 million tethers to the EOS protocol.
Our launch of the new supply of USDt-EOS through Bitfinex and eosfinex will provide the EOS DApp ecosystem with a stable and liquid store of value. This will reduce risk while opening up new opportunities for DeFi innovation on the EOS.IO chain.
Promising projects aren’t getting the light of day with current congestion and volatility issues on other chains, and that is why there’s higher DApp usage on EOS. Something EOS has been lacking is a stablecoin that can help these projects manage exposure to price volatility. Priming the EOS ecosystem with a stable, trusted source of liquidity will open up possibilities for all EOS DApps and EOS community members to benefit from improved access to true value storage.
The combination of USDt-EOS and eosfinex's smart contracts enhance the speed and security of the exchange of on-chain value. EOSIO is quickly advancing toward becoming the protocol for near instant, zero-fee, cryptocurrency microtransactions and complete on-chain trading.
We seek to play a key role in driving EOS innovation and adoption, and this is the first step in that mission. Now that there's finally a genuine stablecoin solution on EOS, our next goal is to work with others in the EOS community to bring block irreversibility times down to three seconds as we get closer to launching eosfinex on the mainnet.