I guess it is because of:
USDC (USD Coin) treats each blockchain implementation as a separate, native asset with:
- Separate reserves: Circle (USDC's issuer) maintains separate collateral pools for each blockchain's USDC
Tether (USDT) follows a different model:
- Single reserve pool: All USDT implementations are backed by the same collateral pool
- Token representations: Each blockchain's USDT is considered just a different "wrapper" around the same underlying asset
- Unified accounting: Tether tracks the total USDT supply across all blockchains as a single liability
PlebInstitute
npub1pa…daw0n
2025-03-14 18:47:49
in reply to nevent1q…sddd
Author Public Key
npub1pa4d0c2kh3hyzqp4e4kl7r4xnc2ay2sush5yet2t3tz6llnyt80s5daw0nPublished at
2025-03-14 18:47:49Event JSON
{
"id": "47f212514edddc88d25d82da70de1ad7bdf5bc58be5506bb71c71c47127d4807",
"pubkey": "0f6ad7e156bc6e410035cd6dff0ea69e15d22a1c85e84cad4b8ac5affe6459df",
"created_at": 1741978069,
"kind": 1,
"tags": [
[
"e",
"5b9fa9fd543a3120aae6049967df19eaaee30ad6946c170e3a8e38dbe0561eaf",
"",
"root"
],
[
"p",
"b8851a06dfd79d48fc325234a15e9a46a32a0982a823b54cdf82514b9b120ba1"
],
[
"client",
"Nostur",
"31990:9be0be0fc079548233231614e4e1efc9f28b0db398011efeecf05fe570e5dd33:1685868693432"
]
],
"content": "I guess it is because of:\n\nUSDC (USD Coin) treats each blockchain implementation as a separate, native asset with:\n\n- Separate reserves: Circle (USDC's issuer) maintains separate collateral pools for each blockchain's USDC\n\nTether (USDT) follows a different model:\n\n- Single reserve pool: All USDT implementations are backed by the same collateral pool\n- Token representations: Each blockchain's USDT is considered just a different \"wrapper\" around the same underlying asset\n- Unified accounting: Tether tracks the total USDT supply across all blockchains as a single liability\n\n",
"sig": "5eadfb35255d01128edde90948bacbceafe2736fd1b9fb6ba9c4d3f35f02132b85c294bab666ba011ba64f9bb9372e6ede5079212359f433e836873789a8f35f"
}