Tether $USDT
The USDT token is a stablecoin pegged to the value of the US dollar. It is controlled, issued, and redeemed by a central authority (Tether Limited Inc, hereafter Tether) and backed by at least an equivalent dollar value in cash and assets held by Tether.
Token PageTether token design description
Origins of Value
[5] Representation
1. REPRESENTATION (5)
The representation is the primary source of value that determines the value of USDT. It reflects the USDT peg to the USD, allowing USDT to be used as a stablecoin.
Tether issues and redeems USDT and guarantees one-to-one redeemability. The redemption of USDT directly with the Tether Limited issuer has some additional conditions for USDT holders, such as the imposition of a minimum redemption value (source), KYC/AML procedures and fees.
is the overall value of collateral, backing USDT
is the overall number of USDT in circulation
Economic Summary
The USDT token is a centralized stablecoin representing the value of the US dollar. Its value originates from a Representation Origin of Value (OoV).
The issuance/redemption of USDT and the maintenance of its representation value is maintained by a central authority - Tether Limited. The USDT is backed by at least an equal dollar value in cash and assets held by Tether.