Everdawn Labs’ USDT0 Omnichain Stablecoin Surpasses $50B in Transfers
Everdawn Labs’ omnichain stablecoin USDT0, pegged 1:1 to Tether (USDT), has processed over $50 billion in cumulative transfers and more than 415,000 transactions since launching in January 2025. Built on LayerZero’s Omnichain Fungible Token standard, USDT0 mints chain-native representations where USDT is not native and connects 15 Layer 1 and 2 networks — including Ethereum, Arbitrum, Solana, Polygon and several Bitcoin-layer and newer chains (INK, Sei, Corn, Rootstock, Conflux, Plasma, HyperLiquid). The project reports that over 20% of total volume (more than $12.5 billion) moved in the past 30 days, making USDT0 one of the most active omnichain stablecoins. Everdawn positions USDT0 as “monetary mesh infrastructure” for payments, remittances and institutional settlement and highlights faster settlement times versus some rivals. The team also rolled out an omnichain version of Tether Gold (XAUT0) — a $2 billion market-cap token backed by physical gold — to expand programmable cross-chain asset support. Originating inside the Tether ecosystem and initially issued on Kraken‑incubated INK, USDT0’s growth signals rising demand for cross‑chain stablecoin rails and increases competition among omnichain solutions from firms like Paxos and LayerZero.
Bullish
The news is bullish for USDT0 specifically. Rapid adoption — $50B in cumulative transfers and heavy recent volume — signals strong demand for an omnichain USDT rail, which supports liquidity and utility for the token. Higher throughput and faster settlement times vs some rivals increase USDT0’s attractiveness for payments, remittances and institutional settlement, likely raising on‑chain velocity and stablecoin demand. The launch of XAUT0 (a gold‑backed omnichain token) further broadens asset utility and may attract capital seeking cross‑chain collateral and yield strategies. Short term, traders may see increased on‑chain flows and tighter spreads for USDT0 markets as liquidity concentrates; arbitrage and cross‑chain trading opportunities could rise. Long term, sustained adoption will underpin stable demand for USDT0, enhancing its market depth and reducing volatility relative to less-used omnichain tokens. Risks remain — competition from Paxos, native USDT on major chains, and regulatory scrutiny of stablecoins — but the immediate impact on USDT0’s price and market activity is likely positive.