Tether, the issuer of USD₮ tokens, is shifting its focus to "enhancing community-driven blockchain support." Consequently, Tether will cease supporting the EOS and Algorand implementations.

In its commitment to a robust and innovative blockchain ecosystem, Tether regularly evaluates current transport layers to balance maintainability, usage, and community interest. This strategic move emphasizes the importance of community interest in determining where USD₮ is deployed.

Security architecture and usability are key factors in Tether’s evaluation of blockchain networks. By prioritizing these elements, Tether aims to effectively allocate resources to enhance security and efficiency while supporting innovation in the crypto landscape.

Effective immediately, Tether will stop minting USD₮ on EOS and Algorand, though redemption on these platforms will continue for the next 12 months to ensure a smooth transition.

On-chain data shows only $17 million USDT on Algorand across 39,000 holders and $85 million USDT on EOS across 32,000 holders, which are low amounts for a token with a $112 billion market cap.

Tether encourages the community to expand USD₮ use cases on supported protocols and chains, leveraging community input to guide future blockchain integrations. This suggests smaller chains may bridge tokens from other chains rather than Tether directly minting in low volumes. Discontinuing support for EOS and Algorand allows Tether to focus resources on platforms that better align with community interest and offer sustainable benefits.

Tether assures users that the transition will be managed carefully to minimize disruptions, reaffirming its mission to support a sustainable and democratized financial system. The company’s emphasis on community-driven decisions and resource optimization reflects its ongoing efforts to adapt to the evolving needs of the blockchain ecosystem.