Is it not time for to add USDT to the "USD Stablecoin" basket for 1:1 conversion and stop treating Tether as a second class stablecoin?
In the past month we've now had:
- NYAG settling with Tether, not filing charges against them, putting to bed the matter
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- Yet another independent accounting firm has verified that Tether is more than fully backed
- The "two Sams" of Alameda both talk openly about doing large creations and redemptions with Tether and having faith in the team
So drop /USDT markets and go 1:1 USD!
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would have to make creations/redemptions 0 fees or else we'd have to charge 10bps on stablecoin conversions; also can take a day, while people usually want them to be instant.
but it's def getting closer!
cant Tether do 0-fee conversions for deltec balance transfers? or something so that there is no excuse for USDT to be the only stablecoin on FTX that is not considered 1:1 USD?
how is USDC surviving as business model otherwise
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Doesn’t everyone convert usd to treasury notes and make money that way? Someone mentioned it for the reason why there aren’t many EUR stables for example