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https://twitter.com/tether_to/status/1524652531170881537 https://twitter.com/tether_to/status/1524652531170881537 Surely this is related

• nmfisher 4y ago
  I just saw that on Twitter and have absolutely no idea what it means. Can anyone explain it?
  • 22c 4y ago
    It essentially means they were moving large amounts of USDT supply around. Presumably there was not enough liquidity on Ethereum and Avalanche mainnets. Imagine you have multiple games of monopoly in progress but all the monopoly money is managed by a single monopoly money bank. Two monopoly games (Ethereum and Avalanche) both needed more monopoly money for the game to go on smoothly, so the banker transferred some money from their main bank (Tron Network) to these other games that are in progress. The total amount of monopoly money in circulation did not change, but the amount of money available in each in-progress game has changed.
    • zelag 4y ago
      I'm curious: why does the banker use Tron as their main bank?
      • pyinstallwoes 4y ago
        Probably because it’s not used by many so it’s fast enough for situations like this where ethereum is overwhelmed and slow/pricey.
      • 22c 4y ago
        Tron has huge backing and is essentially one of the "defacto" standards when centralised exchanges want to transfer huge amounts of USDT between one another. Presumably it is due to cost efficency of TRON but I suspect it's also to do with highly effective marketing or strong industry contacts etc.
      • charcircuit 4y ago
        For reference there is 42.7B on Tron and 39.8B on Ethereum. Tron is not a "main bank", there is just more demand for Tether there. Compared to Ethereum Tron has 0 transaction fees for USDT and has much shorter block times.
• ttty 4y ago
  That was announced like 40 minutes after the crash… doesn’t make sense