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paoloardoino's profile
Paolo Ardoino
Paolo Ardoino
Paolo Ardoino
Verified account
@paoloardoino

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Paolo ArdoinoVerified account

@paoloardoino

CTO @bitfinex + CTO @tether_to [Views are my own]

London
github.com/prdn
Joined January 2010

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    1. Vance Spencer‏ @pythianism 17 May 2020

      Vance Spencer Retweeted sassal.eth  🦇 🔊 🐼

      (80% of this, and 90%+ of YoY stablecoin growth, is Tether) What are good reasons why Tether will use ETH as it’s primary base chain? Will Tether migrate to ETH 2? Why? Why won’t Tether build a stablecoin chain that has less network clog and captures more of the economics?https://twitter.com/sassal0x/status/1261844544036802561 …

      Vance Spencer added,

      sassal.eth  🦇 🔊 🐼 @sassal0x
      #Ethereum is currently securing ~$7.3 billion worth of stablecoins 🚀 https://usdonethereum.com/ 
      12 replies 2 retweets 31 likes
      Show this thread
    2. Vance Spencer‏ @pythianism 17 May 2020

      @paoloardoino :)

      1 reply 0 retweets 4 likes
      Show this thread
    3. Paolo Ardoino‏Verified account @paoloardoino 17 May 2020
      Replying to @pythianism @iam__vance

      Tether uses multiple blockchains also to avoid to clog a single one: divide et impera. Embracing existing blockchains means supporting their communities and be their first choice in their products. When ETH2 will be stable and safe we'll definitely issue on it too.

      1 reply 0 retweets 5 likes
    4. Vance Spencer‏ @pythianism 17 May 2020
      Replying to @paoloardoino

      This is a great answer - thanks for the context. Do you see clients of tether as sensitive to the underlying blockchain? Or are they relatively agnostic dependent on what’s cheapest?

      1 reply 0 retweets 1 like
    5. Thomas McLaughlin 🦊‏ @tmcg89 17 May 2020
      Replying to @pythianism @iam__vance @paoloardoino

      I could be wrong but I highly doubt anyone using Tether even realizes/cares its on ETH. Speed, reliability and low cost always wins...seems unlikely ETH will have a monopoly on that. I’m shocked by that 80% statistic, you won’t hear that from the DeFi crowd!

      1 reply 0 retweets 0 likes
      Paolo Ardoino‏Verified account @paoloardoino 17 May 2020
      Replying to @tmcg89 @iam__vance

      Every blockchain has a community. Community members really care to have tether on their chain to add value and use to it mainly. Exchanges support more then one chain usually to be ensure that, if one is clogged, they can rely on the other.

      3:13 PM - 17 May 2020
      1 reply 0 retweets 0 likes
        1. New conversation
        2. Thomas McLaughlin 🦊‏ @tmcg89 17 May 2020
          Replying to @paoloardoino @iam__vance

          Could you ever imagine there being a premium for Tether on ETH vs another chain? Whether it be driven by fees, speed, reliability, etc.

          1 reply 0 retweets 0 likes
        3. Paolo Ardoino‏Verified account @paoloardoino 17 May 2020
          Replying to @tmcg89 @iam__vance

          It's unlikely. Exchanges list USDt pairs as blockchain agnostic. Maybe via DEXes it might be possible but it's still more probable that discrepancy is due to differences of liquidity on different chains

          2 replies 0 retweets 2 likes
        4. Show replies

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