Stablecoin issuer Tether has ceased support for Kusama, Bitcoin Cash Simple Ledger Protocol (SLP), and Omni Layer citing a lack of demand.

Tether’s USDT stablecoin currently has the biggest market share and supports major blockchains in allowing for the convenient transfer of funds.

Tether Discontinues Support Citing Strategic Transition

Through an official announcement, Tether 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.”

While Tether will discontinue minting USDT on Kusama, Bitcoin Cash SLP, and Omni Layer, it will allow users to redeem their stablecoin on these protocols for at least the next year. It will also facilitate swapping USDT to other chains.

BeInCrypto reported that Omni Layer was responsible for over 50% of Bitcoin Opcode transactions in 2018. However, its popularity declined gradually, and USDT usage also eventually decreased in the Omni Layer protocol.

Tether mentions that if the user activity increases in the Omni Layer, it will again start suppo

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Author: Harsh Notariya

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