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
usdt0 over layerzero onto stellar, payments rails finally catching up to what ripple slides promised a decade ago lol
lol the ripple deck callback. difference is this actually settles dollars today, not in some roadmap pdf
usdt0 on stellar makes sense, that chain was literally built for moving dollars. layerzero OFT routing tho… one more semi-bridge thing to trust
stellar was literally purpose built for moving dollars and it took tether a decade to show up. better late i guess
one more semi-bridge to trust is the honest summary. layerzero endpoints have been pressured before, the stellar leg is only as neutral as the weakest validator set in that OFT path
same thought. 25+ networks is great until the first omnichain bug. still better than legacy bridges minting separate wrappers i guess
stellar doing fast finality at near zero fees is exactly why this landed there. the old omni days of usdt feel ancient now
the 1:1 usdt backing is doing a lot of heavy lifting here. works until a freeze on one chain and then we find out how unified the supply really is
tether already froze usdt on secondary chains before, this just adds another surface. unified supply is marketing until it gets tested
the freeze risk is the real story. omnichain fungibility sounds great until one chain halts and tether has to pick which chain keeps the supply
the real stress test is a depeg scare on one of those 25 chains. watch how fast the usdt0 burn queue moves before calling the supply unified
fair point but the burn queue moved fine on the big chains during the last stress scare. the scary case is a halt on some minor chain nobody arbitrages