Getting Started with USD₮0 on Flare
USD₮0 is live on Flare, leveling up the Flare DeFi ecosystem by bringing a faster, more seamless way to use stablecoins across chains — and without the hassle of bridges or wrapped assets. Whether you’re a seasoned DeFi expert or just getting started, this guide will walk you through migrating, swapping, and maximizing the benefits of USD₮0.
What is USD₮0?
USD₮0 is a native version of Tether’s USDT, backed 1:1: by USDT and designed to move seamlessly across chains using LayerZero’s Omnichain Fungible Token (OFT) standard. Unlike traditional bridged tokens or wrapped assets, USD₮0 works natively and frictionlessly across supported networks.
USD₮0 is redeemable 1:1 with USDT across all supported chains, providing holders with the stability and liquidity of the most widely used stablecoin in the world.
Now on Flare, USD₮0 liquidity will provide a stable and scalable foundation for Flare DeFi and XRP DeFi (XRPFi). Read the official announcement.
What happens to bridged USDT?
Bridged USDT, which was previously brought to Flare via Stargate, will continue to exist for now but will be phased out over time. Stargate plans to remove USDT transfers to Flare from its frontend in the future, but bridged USDT will always be redeemable for USD₮0 on Stargate Hydra.
Flare dApps like SparkDEX and Kinetic are migrating liquidity pools from bridged USDT to USD₮0. Additionally, incentives for bridged USDT will gradually end and shift to new USD₮0 pools.
Please note: If you are providing liquidity with bridged USDT, you’ll need to withdraw, migrate, and redeposit into into the USD₮0 pools to keep earning rewards.
How to get started with USD₮0
There are already numerous ways to get started with USD₮0 today. Here’s how:
1) Migrate bridged USDT to USD₮0
Use the migration tool on the Flare Portal to convert your bridged Stargate USDT into USD₮0. Add USD₮0 to your wallet (contract address).
Watch our tutorial video: How to Swap USDT to USD₮0
2) Swap USDT for USD₮0 directly
Convert USDT directly into USD₮0 with a few clicks on USDT0.to.
Watch our tutorial video: Get USD₮0 on Flare
3) Transfer USD₮0 to Flare
Simply USDT from Ethereum or USD₮0 from other supported chains to Flare by using Stargate. You’ll receive USD₮0 on Flare automatically.
Kraken transfer
For those who prefer centralized exchanges, Kraken users can transfer USD₮0 to Flare effortlessly. Follow these 3 simple steps:
- On the Withdraw page, select USDT as the asset you would like to Withdraw.
- Under the Network drop down menu, you'll see Flare (USD₮0) right there at the top, so click that, then designate your Flare wallet address.
- Confirm and you're all set.
Your withdrawn USDT from Kraken will be deposited into your Flare Wallet as USD₮0.
4) Swap to USD₮0 on DEXs
Swap or trade your USD₮0 on decentralized exchanges (DEXs) like SparkDEX, Ēnosys, Blazeswap, or directly within the Bifrost Wallet.
Watch our tutorial video: Gasless USD₮0 Transfer Tutorial
Why use USD₮0 on Flare?
- High-APY yields: USD₮0 is already on new liquidity pools on SparkDEX and Kinetic, which offer competitive double-digit yields for liquidity providers.
- XRPFi: USD₮0 plays a central role in providing the capital base for Flare DeFi apps that support XRPFi by providing a native stablecoin for FXRP — and soon, for liquid staked XRP users to pair with.
- Fast transfers: Transfers as short as 30 seconds between Flare & chains with USD₮0 support such as Arbitrum.
- Interoperability: Move USD₮0 seamlessly between supported chains including Ethereum, Arbitrum, Ink, Berachain, Unichain, Optimism, Sei, Ton, Tron and Corn.
- Enjoy zero-fee transfers within the Flare network. Oxen Flow wallet also supports this gasless feature.
Useful Links
• Community quests: Layer3 / Galxe