USDT is a centralized stablecoin backed by USD reserves held by Tether.
USDT is a large-cap asset with questionable collateral reserves. This asset depends on a centralized entity for custody services. This asset is exposed to the underlying risks of OmniBridge, a protocol rated as Watch out.
USDT is a stablecoin that consistently trades within 10bps of its peg to USD, which makes it a great store of value.
OmniBridge
USDT has an uncapped supply but has inflation control or burn mechanisms in place. USDT on Gnosis is backed 1:1 by ETH locked in the OmniBridge protocol on the Ethereum chain. USDT is fully redeemable for its USD reserves, providing an effective mechanism to retain the peg to $1.