Pi Network has launched Tether USD transaction capabilities on its testnet, enabling users known as Pioneers to test decentralized finance features.
Summary
- Pi Network wants to allow participants to simulate transactions in a controlled environment before deplying Tether USD in live decentralized apps.
- Pi’s Core team previously announced plans to prioritize DeFi and real-world utility applications over pursuing listings on major cryptocurrency exchanges.
- Tether USD, commonly known as USDT, is a stablecoin pegged to the U.S. dollar
The testnet implementation allows participants to simulate transactions in a controlled environment before deploying Tether USD in live decentralized applications.
The development is reportedly part of the ecosystem’s ongoing refinement efforts. In the previous year, Pi’s Core team announced plans to prioritize decentralized finance and real-world utility applications over pursuing listings on major cryptocurrency exchanges.
The network’s planned 100 decentralized application ecosystem remains under development, according to the team.
Pi Network, which has operated in development phases since its inception, uses the testnet environment to allow users to familiarize themselves with new functionalities before mainnet deployment.
Tether USD, commonly known as USDT, is a stablecoin pegged to the U.S. dollar and ranks among the most widely used digital assets in cryptocurrency markets.
Source: https://crypto.news/pi-network-debuts-tether-usd-transactions-on-testnet/
