USDT is now on peaq

In a nutshell: USDT, the world’s largest stablecoin with a market cap of more than $140 billion, is available on peaq via Stargate's Hydra integration. Now, DePIN builders can integrate it for stable payments on their networks, and Machine DeFi protocols can leverage it as a major liquidity backbone. Thanks to the integration, you will be able to pay with USDT on DePINs and take part in Machine DeFi.

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Tethering in the value

Imagine buying a coffee from a tokenized robo-cafe only to discover that the price is changing every second. As the robot arm reaches for an empty cup, it sits at a generous $1.80, but in a second, it’s $2.49. By the moment you’re enjoying your pumpkin spice latte, it’s price is at $4.24, then it slumps back to $2.23, and… Should you get an ice cream with it, by the way? Would you have to take a loan for it? Decisions, decisions.   

Obviously, nobody wants such a price rollercoaster when buying pretty much anything, not just an ice cream. This goes both for regular people and companies, which would hate to factor in such wild hops on their expense sheets. That’s why a stable means of payment is so important for DePINs: They offer real-world goods and services, and since the real world (for now) runs on fiat, crypto’s volatility can play a cruel trick on them. 

There are workarounds, of course, and by far the easiest is to integrate a stable medium of exchange. Ideally, a fiat-backed stablecoin with the largest market cap in its segment — something north of $140 billion would do nicely. And that’s what peaq did. Yup, you guessed it: USDT is now available to all DePINs building on peaq.

USDT is issued by Tether, a platform designed to facilitate the use of fiat currencies in a digital manner. The stablecoin is pegged to the US dollar and fully backed by Tether’s Reserve. The company provides daily overviews of its holdings.

Via Stargate’s Hydra integration, DePINs building on peaq can now use a bridged version of USDT as a medium of exchange for goods and services in the Machine Economy. This bridged version can be converted into native Tether tokens via Stargate. The token will also work as a major instrument for Machine DeFi protocols on peaq as well as peaq-native DEXes, launchpads, and other key platforms coming up in the future. 

The USDT utility on peaq will include:

• Machine RWAs: Enabling people and businesses to crowdfund tokenized machines which create real-world value.
• Machine DeFi: Providing stable liquidity for such use cases as borrowing and lending with tokenized machines as the collateral as well as various other future Machine DeFi services.
• Payments for Real-World Services: Enabling seamless transactions for goods, services, and exchanges of value within DePINs and other applications.

Check it out here: https://peaq.subscan.io/token/0xd8cF92E9B6Fae6B32f795AcB11Edd50E8dD6Ff4d

You can bridge USDT to and from peaq using Stargate. There’s a handy step-by-step tutorial on how to do that here.

“As a sector, DePIN aims for real-world adoption and creating real-world value and business outcomes. Either is borderline impossible without using stable means of payment to provide reliable service at predictable prices. With this in mind, it’s easy to see why peaq’s native USDT integration is such a boost to the entire peaq ecosystem and such a major step toward DePIN adoption.”

— Leonard Dorlöchter, co-founder of peaq

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