A few hours ago, the Poloniex exchange announced support for the USDT-based ERC20 tokens.
— Poloniex Exchange (@Poloniex) July 3, 2019
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.