On August 19, Tether (USDT) announced that it had gone live on the OMG Network (OMG), a few months after it had first been discussed in June 2020.

• OMG will process USDT transactions to lower costs and reduce times, offloading some of the burden on the ETH network
• The OMG team noted in the original announcement that USDT consumed more gas fees than the next 10 protocols and applications combined
• OMG Network is a layer-2 solution built on More Viable Plasma, which can handle thousands of transactions per second at a fraction of the cost on ETH
• Ethereum fees have risen in recent months, alongside increased volume on DeFi services like Uniswap and others
• Tether is being issued on networks other than Ethereum (ETH), which has been facing congestion due to high volumes of USDT transactions