It won't be pegged but it'll be much easier to atomically swap for sats if it's already on the same payment rails.
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I guess I'm asking is how is bitcoin, the token, being used to transmit data that can be interpreted to constitute USDT on whatever platform that data is being interpreted. To that end, if the quantity of the btc token being transmitted change in value significantly, won't that impair the stability of the USDT value denominated in USD?