On August 17, Tether announced that it would stop minting the USDT-Omni, USDT-Kusama, and USDT-BCHSLP coins.

For the next 12 months, Tether can be redeemed and users can exchange their USDT.

Compared to other top #stablecoins , Tether's demand is still increasing, and this month the total supply in circulation reached an all-time high of $83.9 billion.

To find a balance between maintainability, use data, and community interest, Tether is about to undertake a significant change. The USDT issuer made the announcement that it would stop mining for three blockchains, one of which it had a nine-year partnership with.

Three chains' USDT minting is stopped by Tether.

Tether said that it would stop minting USDT-Omni, USDT-Kusama, and USDT-BCHSLP as of August 17. These USDT were produced using the test chains Kusama, SLP, and Omni Layer for Polkadot. Out of the three, Tether has provided Omni Layer with stablecoin minting functionality for the longest, dating back nine years to 2014.

In order to ensure that the #blockchain its stablecoin runs on maintains a vibrant environment, which was not the case with these three networks, Tether claimed that it had taken this action. Nonetheless, the #USDT issuer has reassured users of the chains that Tether would be open to revisiting the issuance of the stablecoin on it should the chains detect increased use.

Tether announced in its announcement on the end of minting.

"We think the choice of blockchains and protocols for the transfer of wealth should be made by the market. In addition to encouraging the community to increase the use cases for USD on each protocol, we will continue to support the protocols and chains that the community finds beneficial.

The USDT tokens issued on these chains will continue to be redeemed by Tether for the following 12 months, and users will still be able to exchange them for other chains.

Over the past few months, USDT has experienced a strong rise in demand that was once in favour of USD Coin (USDC). The USDT has seen an increase in circulation since March of this year, reaching an all-time high of $83.9 billion this month.

In contrast, USDC is down to $26.1 billion and has fallen to fourth place behind Ripple and #Binance Coin (BNB) (XRP).