What is Tether?

TRC20-based USDT is a TRON-based Tether token, interoperable with TRON protocols and decentralized applications, and allows for the movement of fiat-backed tokens across the TRON blockchain network.

The addition of Tether-based TRON is another example of Bitfinex’s blockchain-agnostic ethos guaranteeing flexibility and choice for its traders. In addition to TRON-based Tether, Bitfinex also provides a platform of support for OMNI and Ethereum based Tether.

Tether is called a stablecoin because it was originally designed to always be worth $1.00, maintaining $1.00 in reserves for each tether issued. Nevertheless, Tether Limited states that owners of tethers have no contractual right, other legal claims, or guarantee that tethers will be redeemed or exchanged for dollars.[4] On 30 April 2019 Tether Limiteds lawyer claimed that each tether was backed by only $0.74 in cash and cash equivalents.

Source: bitfinex.com & en.wikipedia.org