Genuine question @paoloardoino, would appreciate a response...
Do you know why #huobi sends $100m $USDT in 10 x $10m #tether
tranches to bitfinex regularly & then, c. 20mins after the last transaction, #bitfinex sends $100m USDT back to them? Happens about every other day.Why?!
Huobi sends ~100M Tether TRC20 (on Tron) every few days and gets back to ~100M Tether ERC20 (on Ethereum).
While Tether direct customers acquire mainly TRC20, Huobi users seem to prefer ERC20. Hence Huobi uses @bitfinex as a swapping facility.
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Understood. Thanks for the explanation. I have indeed been wondering how that would make any sense.
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Out of curiosity what was the answer? I’m blocked and this is something I’m curious about
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thanks for clarifying, very helpful as always. Do you know why Huobi's users perfer ERC20 if TRC20 is cheaper and faster. I just noticed only ERC20 USDT can be deposited on fiat exchanges like Kraken, do you think this has something to do with it? thanks
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I think maybe it's easier for their users to enter in DeFi via ERC20. But it's just speculation.
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Always
@paoloardoino is answering to community questions, straight answers not vague answers like@bytemaster7 and@BrendanBlumer Well done man! That’s the reason I’m using bitfinex! I will use eosfinex if there was no KYk limits.Thanks. Twitter will use this to make your timeline better. UndoUndo
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