Tether Coin on TRON network (USDTTRC20)
Official Website: https://tether.to/
Whitepaper: https://tether.to/en/transparency/#usdt
About(USDT)
USDT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether. The token’s peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation.
Originally launched in July 2014 as Realcoin, a second-layer cryptocurrency token built on top of Bitcoin’s blockchain through the use of the Omni platform, it was later renamed to USTether, and then, finally, to USDT. In addition to Bitcoin’s, USDT was later updated to work on the Ethereum, EOS, Tron, Algorand, and OMG blockchains.
The stated purpose of USDT is to combine the unrestricted nature of cryptocurrencies — which can be sent between users without a trusted third-party intermediary — with the stable value of the US dollar.
Special Token Risk Disclosure
The composition of reserve assets may not always provide full transparency, for example, Tether has faced scrutiny over claims that its stablecoin is ‘fully backed by US dollars’, which resulted in it being fined by US regulators in 2021. Also, Tether continues to invest a portion of its reserves in risky and illiquid assets, which might limit its capacity to refund investor on demand and at par.
Management of Voting Rights for Virtual Assets
HashKey Exchange's policies concerning the handling of voting rights that may be associated with certain virtual assets traded on this platform:
1. Non-Exercise of Voting Rights: HashKey Exchange does not exercise voting rights associated with virtual assets on behalf of its users. The role of HashKey Exchange is strictly to provide a trading platform for these assets, not to participate in the governance of any assets that may confer voting rights.
2. Users' Exercise of Voting Rights: Users who wish to exercise any voting rights associated with their virtual assets are required to withdraw the respective assets from our platform.
HashKey Exchange encourages users to fully understand the rights associated with any virtual assets they may hold.
Please refer to Virtual Asset Risk Disclosure for further information.
Warning Statements on Complex Products
- This token is a virtual asset and considered a Complex Product (as defined in the "Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission"). Please review the project website, whitepaper, other relevant materials ("Project Materials") and Virtual Asset Risk Disclosure below before making any investment decisions. Please refer to the Disclaimer below regarding the information from third-party links.
- Investors should exercise caution in relation to Complex Products.
- The Project Materials have not been reviewed by the SFC. Investors are advised to exercise caution in relation to the token.
- This token is only available to professional investors.
- Past performance is not indicative of future performance.
- Investors should read the Project Materials including but not limited to those disclosed on the website, the whitepaper, and Virtual Asset Risk Disclosure below to understand the key nature, features and risks of a Complex Product and are advised to seek independent professional advice before making any investment decision and should have sufficient net worth to be able to assume the risks and bear the potential losses of trading the token.
Disclaimer
Non-Fungibility of USDT and USDTTRC20
HashKey Exchange now supports Tether issued both on the Ethereum blockchain ("USDT") and on the TRON blockchain ("USDTTRC20”). Although they represent the same underlying token Tether, USDT and USDTTRC20 operate on different blockchain networks and are not directly interchangeable or fungible across these networks without going through a conversion process. Please note that HashKey Exchange DOES NOT offer any conversion process.
You can only trade USDTTRC20 via HashKey Brokerage Service. By using the HashKey Brokerage Service to transact with either USDT or USDTTRC20, you acknowledge that you understand these differences and accept any associated risks. You are solely responsible for ensuring that you select the appropriate blockchain network when depositing, withdrawing, or trading USDT and/or USDTTRC20 tokens. Sending USDT to a USDTTRC20 address, or vice versa, would result in the irreversible loss of funds. We strongly advise you to thoroughly check the compatibility of their sending or receiving address before initiating any transactions involving USDT and/or USDTTRC20.
The information on this page, including any third-party links, whitepapers, and audit reports, is for informational purposes only. We make no warranties about its accuracy, completeness, or suitability. The content may change and may not be up-to-date. We recommend verifying the information directly from the linked resources. We do not necessarily endorse any included links. Use of this information is at your own risk. Nothing on this page should be construed as investment advice. Virtual assets are subject to significant price volatility and risks. Please refer to Virtual Asset Risk Disclosure. If unsure about any financial decisions, please seek professional advice.
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