There is less of a liquidation risk regarding tether precisely because the major lending protocols (Maker, AAVE, Compound) do not let you use tether as collater

There is less of a liquidation risk regarding tether precisely because the major lending protocols (Maker, AAVE, Compound) do not let you use tether as collateral. You can deposit it to lend to others. And borrow it against other assets. But you cannot directly borrow against USDT as collateral.