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pnUSDT: can it be frozen by Tether, like USDT ? #3

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newnya opened this issue Jan 17, 2021 · 2 comments
Open

pnUSDT: can it be frozen by Tether, like USDT ? #3

newnya opened this issue Jan 17, 2021 · 2 comments

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@newnya
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newnya commented Jan 17, 2021

Not really an issue, i would write this in the Discussion section, but there isn't one for this project.

So, the ERC-20 and Omni USDT tokens have a centralization issue: the Tether company has the control over your funds, like Paypal.

Can they freeze the pnUSDT funds as well ?

@steven1227
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Not really an issue, i would write this in the Discussion section, but there isn't one for this project.

So, the ERC-20 and Omni USDT tokens have a centralization issue: the Tether company has the control over your funds, like Paypal.

Can they freeze the pnUSDT funds as well ?

They can freeze on the ETH side.

@newnya
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newnya commented Jan 18, 2021

Not really an issue, i would write this in the Discussion section, but there isn't one for this project.
So, the ERC-20 and Omni USDT tokens have a centralization issue: the Tether company has the control over your funds, like Paypal.
Can they freeze the pnUSDT funds as well ?

They can freeze on the ETH side.

That means i am still able to spend my pnUSDT, since it runs on NEO?
So the risk is taken by a custodian that wraps my USDT ?
And wrapping just means the custodian keeps my USDT as collateral and gives me nUSDT ERC-20 and pnUSDT NEP5 ?

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