The most recent announcement integrating Tether (USDT) on Polkadot is already producing positive results as Statemint, a parachain of the protocol, has seen a parabolic increase in the total volume of the stablecoin residing there. This significant change in Statemint’s USDT volume started shortly after the notification was communicated, as Polkadot did on its official Twitter account.
Users thought about the wide-ranging good consequences it would have on the market as a whole when the announcement of the USDT integration on Polkadot became live, which sent shockwaves across the sector.
The main winners from this alliance are likely to be parachains and decentralised applications on Polkadot, which have millions of users on Binance and a wide range of diverse users for the USDT stablecoin over time.
Significantly, the companies’ cooperation will unleash enormous liquidity that will strengthen yield protocols and stablecoin farming dApps running on the Polkadot network. More people are probably going to start using the Polkadot blockchain as more platforms begin to operate with the stablecoin, as seen by the results of Statemint.
Fanning crypto evolution through collaboration
The interoperability of blockchain technology and its related technologies is one of its biggest selling points. This attribute is one of the industry’s strongest benefits for charting a steady evolutionary route as it is still mostly in the early stages of development.
The adoption of these systems and apps is further accelerated by their collaboration with those in the mainstream IT world, which will eventually accelerate the growth of the sector.
Polkadot has worked with some of the most cutting-edge platforms in the market during the last several months. Along with Tether’s integration, Uniswap debuted on Polkadot earlier this month.
