TALLINN, Estonia, August 22, 2018
New crypto cross-chain wallet launches Atomic Swaps with the USD Tether (symbol Tether - ₮, ticker - USDT) on August 27, 2018 with the mainnet release
The problem of the Tokens to USDT and BTC to USDT decentralized exchange seems to be one of the thorniest for the current cryptocurrencies users. USDT itself is an unusual and controversial token. Based on Omni Layer ‘above-the-Bitcoin’ transaction network, it is a hybrid cryptocurrency with a rate binding to one US dollar allowing to execute dollar-pegged transactions with no demand for the fiat money. It’s ultimately appreciated by the market: consumers will encounter USDT in 87 % of cases analysing the lists of the most popular trading pairs of top-3 centralized exchanges (Binance, OKEx and HuObi, at the time of writing).
USDT is of particular importance for the services and jurisdictions where the fiat operations are unavailable due to either technical or legal reasons. With some certain reservations, USDT can be considered as the token with the world’s first capitalization.
Nevertheless, it has been impossible to exchange USDT in a decentralized manner nowadays: only ERC-20 version of Tether (three percent of total circulating token supply) can be exchanged via DEXes which seems to be a poor remedy. Moreover, community waiting for the full value USDT remittances is misled by this feature.
Swap.Online decentralized cross-chain wallet will exchange USDT from the first day of mainnet release. The technical details can be found in team’s Wiki, project’s developers in the open-source manner showed the 200 lines of code allowing USDT to be exchanged on both BTC and ERC-20 tokens with hash-locked time contracts. Everyone can check the C++ codes for both creating and redeem transactions. Thus, it will be the first solution connecting the Omni Layer with different blockchains allowing the users to handle cross-chain swaps with USDT. It corresponds with the Swap.Online self-placement as the revolutionary multi-currency wallet based on the Atomic Swap technology.
CONTACT: Alexander Namgaladze, Business development and operations, +7-911-855-5512, [email protected]