About Tether USD
What is Tether USD (USDT)?
USDT is a token issued by Tether and designed to track the value of one US dollar. Tether first launched USDT in 2014. It is used for payments and as a quote currency in cryptocurrency markets. USDT exists on multiple blockchains, each with its own token implementation. NonLogs lists the Ethereum version. The network and contract identify the supported asset; the USDT ticker alone does not specify which blockchain a transfer will use.
How is USDT backed?
Tether states that each USDT in circulation is backed by reserves of equivalent value. Its terms define reserves as cash, cash equivalents and other assets, which may include loan receivables. Tether publishes reserve information and reports describing those assets. The backing is held outside the Ethereum token contract. Ethereum can record the token supply and transfers, but its validators do not independently check the issuer's reserve valuations or the availability of cash for redemptions.
How do transfers and redemption differ?
An Ethereum transfer moves USDT between addresses and pays a network fee in ETH. Direct redemption involves a verified Tether customer requesting payment under Tether's terms. At this review, its published minimum acquisition or redemption amount is US$100,000, and the redemption fee is the greater of US$1,000 or 0.1%. These issuer requirements can change. Selling USDT in a NonLogs pair uses available orders and creates an exchange trade; it does not submit a redemption request to Tether.
What are the supply model and limitations?
Tether controls token issuance and redemption, with no fixed mining cap. Its documentation distinguishes tokens authorized in the treasury from tokens issued into circulation. A creation transaction therefore does not by itself show that the same amount has entered circulation. Tether's terms also permit freezing tokens and restricting service access in specified circumstances. Holders depend on the issuer's reserves and redemption operations, while an exchange's available orders determine the price and quantity obtainable through a trade.
What should I check before transferring USDT?
Choose Ethereum USDT matching the contract shown here and the network on your current deposit page. TRON USDT and versions on other chains use different transfer routes. Ordinary Ethereum USDT transfers expose the sending address, receiving address and amount. A personal wallet sending an ordinary transaction needs ETH to pay gas, alongside the USDT it sends. A wallet's displayed USDT balance cannot be spent as ETH to cover that network fee.
Where can I trade USDT on NonLogs?
The markets below open pairs involving USDT. A price quoted in USDT expresses the number of tokens paid for one unit of the other asset. It does not create a US-dollar bank payment. The last price in each row of the trading-pairs table reflects a completed NonLogs trade, which may be older than the currently available orders. Check the order book and last-trade time, particularly when few trades have occurred in the pair.