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Hi I heard USDT and USDC is now on statemine. How do I get access to that?

Assuming I have USDT on my ERC20 wallet, how do I get that to a substrate-based chain/parachain?

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2 Answers 2

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Just in case others may not see my earlier answer to a different question:

(Not financial advice) Currently it is available with Bitfinex withdrawals to Statemint and Statemine parachains for Polkadot and Kusama ecosystem respectively.

  1. Withdraw your USDT from an exchange like Bitfinex into Statemint/Statemine

See Statemine example: https://support.polkadot.network/support/solutions/articles/65000181634-how-to-withdraw-usdt-from-bitfinex-on-statemine

See that Statemint (Polkadot) is also now recently available: https://www.bitfinex.com/posts/840

  1. Transfer it across the Polkadot/Kusama ecosystem respectively:

See Statemine example: https://support.polkadot.network/support/solutions/articles/65000181118-how-to-transfer-tether-usdt-on-statemine

FYI on what is Statemint and Statemine: https://support.polkadot.network/support/solutions/articles/65000181800-what-is-statemint-and-statemine-and-how-do-i-use-them-

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(Not financial advice) One new way as of end of Sep 22 (and there will be other ways on different chains given time) and this is not an endorsement of the services and I have not personally tested this route (if you're going to try it, do it with little values first):

  1. https://app.multichain.org/#/router can transfer over USDT to moonbeam which seems to be called multiUSDT.
  2. https://app.beamswap.io/exchange/swap can then be used to swap multiUSDT to xcUSDT

This would get you xcUSDT on moonbeam which is a derivative token backed by the USDT on statemint, and thus ought to be isolated from future bridge hacks. It should only be exposed to the governance risk of statemint and moonbeam.

Read more here: https://medium.com/beamswap/native-usdt-landed-on-moonbeam-and-the-beamswap-dex-7a2dd0b10b91

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