On 31 January 2025, the Vigiler platform published a timetable for the phasing out of the USDT stablecoin instrument, which is required by law. Over the past weeks, we have been in continuous consultation with our exchange partners, which has led to the need to accelerate the schedule in order to ensure that we can continue to smoothly service the initiated transactions for the asset being phased out for the remaining time.

Accordingly, changes will be implemented for the USDT facility on the following specific dates:

On 11 February 2025, support for the USDC facility will be available for all Superpositions. At the same time, it will no longer be possible to launch a new USDT-based Superposition, but existing positions will of course continue to operate.

On 26 February 2025, support for the USDT instrument will be discontinued in all services except Wallet, and existing positions and instruments will be converted to USDC. This means the following for each specific service:

  • USDT assets stored in the Savings Pool are automatically converted and merged with the USDC pool. Savings allocations will then continue to work seamlessly in the new Pool. No client intervention is required to perform this operation.
  • USDT loans will be automatically converted to USDC. The customer will be able to repay them in USDC after the due date and the interest will also be settled in USDC from the indicated due date. The conversion does not mean that the interest rate on the loans will change! No client intervention is required to carry out the operation.
  • Loans backed by USDT are automatically converted to USDC. When the loan is closed, the customer will get his collateral back in USDC, or if the loan is liquidated or terminated before its closing, it will be done from USDC. No client intervention is required to carry out this operation.
  • USDT based DualSwap positions will be automatically converted to USDC based. Upon closing the position, customers will also receive USDC back and will be charged the base rate of the USDC Savings Pool as interest on the position. No client intervention is required to perform this operation.
  • USDT based Superposition positions will be automatically converted to USDC based. After the position is closed, the client will receive USDC back, will be able to increase or decrease the quote assets in USDC, and the realized profit will be credited in USDC after the conversion. No client intervention is required to execute the operation.
  • The USDT stock allocated to the Collateral Option product is automatically converted into USDC. No client intervention is required to perform this operation.
  • Support for USDT transfers to the Wallet will be discontinued. No client intervention is required to perform this operation.

Until 30 March 2025, our customers will be able to hold USDT on the platform, but they will no longer be able to perform any operations with it, except for the withdrawal function. No customer intervention is required to perform this operation.

We ask for our customers’ understanding for any inconvenience during the transition period.