Summary: USDT.e and USDT are two tokens available on the Avalanche network that are pegged to US Dollars. The key difference is that USDT.e is a 'wrapped token' that was initially deployed on the Avalanche blockchain, similar to ETH and WETH on Ethereum mainnet.
After the success of Avalanche and USDT.e on AVAX, the team behind Tether (USDT) decided to deploy their native token 'USDT' on Avalanche, which means it is not wrapped. With time, they will start to phase out USDT.e on Avalanche, but the token will not lose peg and there are no underlying risks.
What is USDT.e?
USDT.e is a wrapped token that represents one share of USDT on the AVAX blockchain. USDT.e was the first stablecoin deployed on the Avalanche Bridge (AB) in the middle of 2021 when the Avalanche C Chain first went live.
As the AVAX network grew, there was more demand for USDT and the team behind Tether decided to properly launch their stablecoin on the Avalanche network. With time, they intend to phase out USDT.e and make USDT the only available version on the AVAX network.
How to Swap USDT.e to USDT
The easiest way to convert USDT.e to USDT on the Avalanche network is through a stableswap platform like Platypus Finance. We recommend that you swap USDT.e to USDT before the Tether team phases out the wrapped token and it runs out of liquidity.
You can follow the simple guide below to get started.
- Visit Platypus Finance.
- Select the 'Swap' option.
- Select USDT.e and USDT as the two tokens you want to convert.
- Input the amount of USDT.e you want to swap to USDT (it will be a 1:1 swap).
- Confirm the transaction.
As you can see on the image above, the swap rate from USDT.e to USDT is essentially 1:1 - with a small amount lost due to fees charged by the Platypus DEX. Platypus Finance is by far the cheapest DEX to complete this swap compared to other platforms like Trader Joe or Pangolin Finance. You can read more about this in our Platypus Finance Review.
How to add USDT.e to Metamask Wallet on AVAX
If you want to add USDT.e to your Metamask account, you will need to find the contract address and add it to your token lists.
The contract address for USDT.e on Avalanche is 0xc7198437980c041c805A1EDcbA50c1Ce5db95118.
USDT.e to USDT Conversion Rate
The chart below is the live conversion rate of USDT.e to USDT. You will find that the conversion rate should be 1:1 with a small amount of fees paid to swap the tokens on a platform like Platypus Finance.
Is USDT.e Safe?
Yes, USDT.e is a safe and trusted stablecoin that is backed by Tether and Avalanche. That said, USDT.e is becoming less liquid as other stablecoins become more dominant on the Avalanche network. This illiquidity risk means that you may have difficulty transferring large amounts of USDT.e to USDT in the future.
Final Thoughts
USDT.e and USDT are two tokens available on the Avalanche network that are pegged to US Dollars. The key difference is that USDT.e is a 'wrapped token' that was initially deployed on the Avalanche blockchain, while USDT is a native coin on AVAX built by Tether (USDT). You can easily swap USDT.e to USDT on a platform like Platypus Finance, which will be the cheapest DEX for this exchange. Both tokens are safe and backed by Tether and Avalanche, however, USDT.e is becoming less liquid as other stablecoins are becoming more dominant on the network.
Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.
