VTBDex Updates: Addition of USDT (Tether)
VTBDex & USDT (Tether)
Date: November 10th, 2022
Available at https://vtbdex.com/
VTBCommunity Announcement – VTBDex Technical Updates – Addition of USDT (Tether)
Dear VTBCommunity members,
We are here to announce an exciting new feature in our VTBDex: the addition of USDT (Tether). VTBCommunity members will now be able to Deposit, Withdraw, Buy, and Sell VTBC using USDT.
We will ensure that everyone can consult our Knowledge Base on the VTB Forum to learn how to buy VTBs using USDT. This fresh VTBC trading feature, which will be in effect by the 16th of November, will be as seamless as with current crypto options.
For those who are not familiar with this particular stable digital currency, USDT (United States Dollar Tether) is a blockchain-based cryptocurrency launched in 2014 that operates as a centralized, fiat-collateralized stablecoin, and is fully backed by Tether’s reserves. Its particular feature of being “pegged to” or backed by the value of the US dollar means, in short, that its price is always equal to that of the US Dollar. USDT is the third-largest cryptocurrency, next to Bitcoin (BTC) and Ethereum (ETH). USDT is owned by iFinex, a company based in Hong Kong that owns the cryptocurrency exchange BitFinex.
This update also brings some significant improvements to the underlying user data structure that streamlines the blockchain transaction speed and throughput. We have enhanced the weight, which translates into “gas” for ETH, of many of our core functionalities, making it possible to put more transactions in a block. This update paves the way for our next steps in development including the addition of other cryptocurrencies.
We are happy about this significant step in the advancement of the overall capabilities of the VTBDex and continue our efforts in adding other relevant cryptocurrencies for our members to benefit from.
As always, we are grateful to our members for their continued support to make the VTBCommunity a success.
The VTBCommunity Foundation