NEAR-native $USDT Now Live on Burrow
May 10, 2023
With the launch of $USDT on NEAR last September, two kinds of $USDT have existed on NEAR: $USDT, which designates $USDT native to the NEAR network (NEP-141); and $USDT.e, which is the $USDT minted on Ethereum (ERC-20) then bridged to NEAR.
Previously, only $USDT.e existed on Burrow, but now with more options to access native $USDT through CEXs such as Bitfinex and Binance, Burrow has also added support for NEAR-native $USDT. Effective May 10, Burrow users will be able to supply $USDT to Burrow pools. Soon, $USDT will also be used as collateral and borrowable.
For users with deposits or loans in $USDT.e, $USDT.e pools on Burrow will not be affected by the addition of $USDT and will continue to exist as before.
