In 2017, the popular Tether stablecoin added support for the Ethereum platform and began issuing its tokens called USDT on the Ethereum blockchain using the ERC-20 standard.
Tether (USDT) is a stablecoin pegged to the value of one US dollar. It is designed to ensure stability and liquidity in the world of cryptocurrencies.
ERC-20 standart and USDT
The ERC-20 standard is a protocol that defines the rules and standards that tokens on the Ethereum platform must comply with. ERC-20 establishes the main functions, methods and events that should be implemented in such tokens to ensure their compatibility with other applications, wallets and exchanges on Ethereum.
By adding support for Ethereum, Tether was able to take all pros of the advantages of the Ethereum platform, such as the ability to execute smart contracts and create decentralized applications (dApps). As a result, USDT tokens have become available for storage, transfer and use in the Ethereum ecosystem. It also opened the door to a wide range of applications of Ethereum-based USDT, including decentralized exchanges (DEX), financial applications and other innovative projects, the creation of decentralized applications (dApps). As a result, USDT tokens became available for storage, transfer and use internally.
Tether USDT Ethereum contract: https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7
