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2/3 It's based on market demand. Imagine that there is an exchange that has support only for Tether-ETH and has a lower BTC price than others. Lot of customers will need Tether-ETH instead of Tether-Omni. @bitfinex acts as a gateway between the two (several) transport layers.
3/3 This concept is really normal for assets that live on multiple chains. The total issuance needs to stay the same, so if you need X Tether-ETH, you have to send back X Tether-Omni. Happy to clarify further
What benefit would a trader have moving from Tether Omni to Tether ETH?
you can use ETH-Tether for example on ethereum decentralized exchanges who list it. That won't work with Omni-Tether
Why not using only one chain? What is the benefit to still use Omni? ETH is widely accepted in every Exchange.
Every chain has its own users / use cases - Omni: is secured by Bitcoin, incoming support for atomic swaps - Liquid: (soon) Bitcoin sidechain, 1m block time, secured by Bitcoin - ETH/EOS: faster, can be used directly in smart contracts as stable-coin - LN/RGB: will be awesome
Where is the fucking audit. Say that u fool. Stop counting marbles and making others feel what a fucked up bitch ur being. Say the real thing.
So are you going to pump ETH next?
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