Cryptocurrency exchange Binance has added support for the NEAR Protocol network for USDT stablecoin.
🔥 @binance has completed the integration of $USDT on the @NEARProtocol network.
📌 Deposits and withdrawals for Tether (USDT) are now open on the NEAR Protocol network.
Details 👉 https://t.co/ogKYRB8iJX#NEAR $NEAR pic.twitter.com/Fa69om8ssA
— Near Insider 🅝 (@near_insider) April 12, 2023
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It should be said that USDT cannot be sent on EVM networks. To do this, you need to exchange it for USDT.e. Also, it should be remembered that when withdrawing funds, you need to select the correct ticker.
About a year ago, there were rumors that Near Protocol would launch a high yield stablecoin. Even the name USN was known. There were facts confirming this information. Twitter users noticed that the testnet version of Ref Finance has a USN asset in its interface. It has featured in the stablecoins section along with other popular assets such as USDC, USDT and DAI.
As a result, the stablecoin was released. But later it was curtailed due to “insufficient provision in extreme market conditions.” They also launched a $40 million USN Protection Program, and users were able to exchange USN to USDT at a 1:1 ratio.
Source: Cryptocurrency
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