Important Announcement: Tetra Farm Transitions to USDC
December 30, 2024
About the Transition to USDC
As of December 30, 2024, Tetra Farm has fully transitioned from USDT (Tether) to USDC (USD Coin). This change applies to all financial operations within the project, including:
- Purchasing NFTs
- Profit distribution to project participants
- All internal transactions
Reasons for Transitioning to USDC
Compliance with New EU Regulations
With the introduction of the MiCA (Markets in Crypto-Assets) regulation in the European Union, new requirements for stablecoins have been established. USDC fully complies with these requirements, as evidenced by:
- Circle (the issuer of USDC) obtaining an EMI license from the French banking authority
- Strict adherence to reserve storage requirements (at least 60% in banks)
- Enhanced investor protection standards
Reliability and Transparency
Circle demonstrates a high level of compliance with European standards:
- Maintaining adequate reserves
- Ensuring high liquidity
- A robust system for safeguarding funds
What This Means for Project Participants
NFT Purchases
- All new NFT purchases must now be made exclusively in USDC
- Prices in USDC remain equivalent to the previous prices in USDT
- USDC transactions must be conducted on the Polygon network
Profit Distribution
- All profit distributions are now processed in USDC
- The dollar-equivalent profit amounts remain unchanged
- Payments are automatically issued in USDC
Benefits of the Transition for Participants
- Enhanced Security
- Strict EU regulatory oversight
- Transparent operations
- Reliable reserve backing
- Compliance with European Standards
- Full compliance with MiCA requirements
- Official licensing in the EU
- Regular reporting and auditing
Actions for Participants
- Before Purchasing NFTs:
- Acquire USDC instead of USDT
- Ensure you are using the correct network (Polygon)
- For Receiving Profits:
- No additional action is required
- Profits will be automatically credited in USDC
If you have any questions regarding the transition to USDC, please contact Tetra Farm’s support team.
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