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
usdt0 over layerzero onto stellar, payments rails finally catching up to what ripple slides promised a decade ago lol
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
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