Stable coin tether USDT: Ethereum vs. Solana vs. BNB Chain, etc

noorman0

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[Nope]No hype delivers more than hope

Quote from: Mbidox on October 12, 2022, 12:23:26 PM

-snip-
Can only stablecoins of type B) be on multiple blockchains?
Or can also stablecoins of type A) be on multible blockchains?

I'm not a coding expert, so my answer is it depends on how the architecture has the willingness and ability to develop code. Most stable coins run on smart contract based blockchains because (I think) it is more efficient in some ways, or algorithmic stablecoins like Terra UST also have their own blockchain so they are not affected by external network interference.

If you mean one brand of stable coin has both types, I don't think that's possible.

Yogee

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Quote from: Mbidox on October 12, 2022, 02:47:01 PM

Quote from: rhomelmabini on October 12, 2022, 12:39:28 PM

... even algorithmic stablecoins can be on multiple blockchains, DAI stablecoin is one example of that.

I was not able to find out on which other blockchain DAI is. What I found was, that it is only on Ethereum ERC20.

What do I miss?

One way to check the other supported chains is to use data aggregators such as Coingecko. Search for DAI and then click on the three dotted lines next to "explorers" under "Info".

Some supported networks include BSC and Polygon.
- https://bscscan.com/token/0x1af3f329e8be154074d8769d1ffa4ee058b1dbc3
- https://polygonscan.com/token/0x8f3cf7ad23cd3cadbd9735aff958023239c6a063

Perhaps you could verify if there will be price variations by observing how they would perform in different exchanges.

Mbidox

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Quote from: rhomelmabini on October 12, 2022, 12:39:28 PM

... even algorithmic stablecoins can be on multiple blockchains, DAI stablecoin is one example of that.

I was not able to find out on which other blockchain DAI is. What I found was, that it is only on Ethereum ERC20.

What do I miss?

rhomelmabini

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No God or Kings, only BITCOIN.

Quote from: Mbidox on October 12, 2022, 12:23:26 PM

Tether is B) .
Can only stablecoins of type B) be on multiple blockchains?
Or can also stablecoins of type A) be on multible blockchains?

No, even algorithmic stablecoins can be on multiple blockchains, DAI stablecoin is one example of that. Both can be on multiple blockchains that doesn't mean because of their type it will just be on a single blockchain. To tell you, there are other types of algorithmic stablecoins too, you can read this article: https://zipmex.com/learn/algorithmic-stablecoin/

Mbidox

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Thank you.

There are two different types of stable coins:
A) Algorithmic Stablecoins
B) Stablecoins, that claim to be covered with assets like the dollar itself

Tether is B) .
Can only stablecoins of type B) be on multiple blockchains?
Or can also stablecoins of type A) be on multible blockchains?

noorman0

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[Nope]No hype delivers more than hope

Quote from: Mbidox on October 12, 2022, 11:13:59 AM

What does this mean? Are this also different stable coins with the same name?

Yes, they are. The difference is each network.

Quote from: Mbidox on October 12, 2022, 11:13:59 AM

-Can it theoretically be, that a tether on Ethereum blockchain can have another value than the one on Solana blockchain? And does the arbitrage ensure that these two tethers have the same value?

Possible, but the price difference doesn't allow arbitration for small amounts due to network fees. Also no CEX that pairs trades against one brand of coin just because it supports multiple networks.

Quote from: Mbidox on October 12, 2022, 11:13:59 AM

-Can it theoretically be, that for example the tether on Ethereum blockchain has lost confidence and becomes worthless, whereas the one on Solana blockchain still has more confidence?

Possible, if one of the blockchains (somehow) stops working due to a network attack or smart contract exploit.

Quote from: Mbidox on October 12, 2022, 11:13:59 AM

-Or is it technically (by design) impossible, that a tether on one blockchain has another value than the one of another blockchain?

Same answer as the 2nd one

Mbidox

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I know, that a USD stable coin tries to be exactly 1.0000$. However some stable coins can better follow this goal, other less. So it can be, that USDC can lose confidence, but TUSD is still trustworthy.

One of this stable coins is Tether or USDT.
It is said, that ...
quote: "Tether or USDT is available on multiple blockchains such as Ethereum, Solana, BNB Chain, etc."

What does this mean? Are this also different stable coins with the same name?
-Can it theoretically be, that a tether on Ethereum blockchain can have another value than the one on Solana blockchain? And does the arbitrage ensure that these two tethers have the same value?
-Can it theoretically be, that for example the tether on Ethereum blockchain has lost confidence and becomes worthless, whereas the one on Solana blockchain still has more confidence?
-Or is it technically (by design) impossible, that a tether on one blockchain has another value than the one of another blockchain?

Would appreciate an answer. Thank you.

Topic: Stable coin tether USDT: Ethereum vs. Solana vs. BNB Chain, etc (Read 87 times)