Tether Goes Live on OMG Network

By Abhimanyu Krishnan | News | 20 Aug 2020

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 

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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