Monday, June 24, Tether, issuer of the popular stablecoin USDT, announced the decision to stop minting USDT on the Algorand and EOS blockchain networks. The reason? Focus on blockchain with a growing community! 😎

Even though the issuance of new tokens has stopped, Tether guarantees that token exchanges on Algorand and EOS will continue for at least the next 12 months.

This decision was taken after careful consideration and a series of assessments of USDT's performance and maintenance on various blockchains. Tether is committed to striking a balance between “maintenance, use, and community interests.”

Tether promises to continue supporting other chains with greater community popularity while encouraging expansion into different protocols.

This is not the first time Tether has stopped issuing tokens on the blockchain. Last year, around August, Tether stopped issuing USDT on three blockchains: Bitcoin, Bitcoin Cash, and Kusama.

At the time of writing, Tether is still available on around 11 chains, including Ethereum, Tron, Avalanche, Kava, Liquid Network, Near, Celo, Polkadot, Solana, Ton, and Tezos.

What do you think about this decision? Come on, discuss it in the comments column!