HomeBlockchainPoloniex supports USDT-based ERC20 tokens

Poloniex supports USDT-based ERC20 tokens

A few hours ago, the Poloniex exchange announced support for the USDT-based ERC20 tokens.

From now on, users will be able to make both deposits and withdrawals with ERC20 tokens based on Tether (USDT) and then use other networks as is already possible with Omni, TRON and Ethereum.

Poloniex explained that they decided to focus on this type of support to give users greater flexibility and also because Ethereum provides a faster and cheaper solution than Omni.

Tether has also recently announced USDT deposits and withdrawals on TRON’s blockchain to ensure near-immediate transactions at zero transaction cost.

This is just one of the latest news announced by Poloniex. In recent days, in fact, there have been many other pieces of news for this exchange, such as:

  • The offer of rewards for the staking of the Cosmos (ATOM) cryptocurrency;
  • The reintroduction of the TrollBox, a forum for traders to talk about everything related to the crypto world;
  • The option for traders to use CCTX-certified APIs;
  • The launch of a weekly bonus system based on Stellar’s inflation.

Also, at the beginning of June 2019, Poloniex had suffered a loss of 1,800 bitcoins, equal to 21 million dollars today. The loss, in that case, was not caused by hackers but by several factors, in particular, the speed of the crash and the lack of liquidity of CLAM’s market; moreover, a significant amount of the loans had been collateralised in CLAM, thus leading to a reduction in the value of the token.

Alfredo de Candia
Alfredo de Candia
Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.