Velocity, the corporate behind the Velocity Pockets, has launched USDT-L, the primary iteration of Tether, the biggest stablecoin on the crypto market, on high of Bitcoin’s Lightning Community (LN). The wrapped token, which takes benefit of the “taproot belongings” protocol not too long ago rolled out by Lightning Labs, seeks to convey all the advantages of LN to stablecoin belongings. In a weblog put up, Velocity acknowledged that it “goals to increase the utility and adoption of each applied sciences, offering customers with a stable-value choice for fast and low-cost transactions.” Velocity additionally highlights the privateness advantages of utilizing USDT-L over USDT in different L1 chains, together with that transactions occur off-chain, the routing of the funds is obfuscated, and there’s restricted info disclosure required for every transaction.
