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TRON Teams Up with Social Trading Giant HedgeTrade

| Updated
by Julia Sakovich · 3 min read
TRON Teams Up with Social Trading Giant HedgeTrade
Photo: HedgeTrade

With two companies joining forces, HedgeTrade’s traders will now be able to publish and monetize predictions for TRX trading pairs by creating the aforementioned Blueprints.

TRON has announced a partnership with blockchain-based social trading platform HedgeTrade, giving TRON users a way to gauge market sentiment on TRX.

The native currency of the TRON ecosystem will be integrated into Singapore-based HedgeTrade’s popular predictions platform, where traders post predictions into smart contract-powered Blueprints users can purchase and unlock.

The TRX Blueprint

The platform’s traders are incentivized by the prospect of earning HEDG tokens, which are dispensed after successful predictions. Inaccurate predictions, meanwhile, result in tokens being automatically returned to the purchaser as per the smart contract.

With the two companies joining forces, HedgeTrade’s traders will now be able to publish and monetize predictions for TRX trading pairs by creating the aforementioned Blueprints. TRX is a top 15 cryptocurrency by market cap and is widely available for trading at the world’s top exchanges.

“By including TRON’s native cryptocurrency TRX into our predictions market, TRON will gain a unique way to measure sentiment for their coin and yet another avenue for liquidity,” said HedgeTrade CEO and Co-Founder David Waslen. “With this important trading pair addition, HedgeTrade provides additional opportunities for its base of traders to profit by making predictions on $TRX trading pairs. It’s another win-win partnership benefiting both companies as well as both communities.”

Business Is Booming at TRON

The integration of TRX into HedgeTrade comes at an interesting time for TRON, which recently launched JustSwap, a decentralized exchange protocol and the Foundation’s first defi product.

Conceived as a challenger to Ethereum’s UniSwap, JustSwap lets users exchange TRC20 tokens and earn trading fees and mining rewards. JustSwap users use TRX as collateral to borrow the recently-launched USD-pegged JUST stablecoin (USDJ) and, when clearing the debt, repay the USDJ plus a stability fee payable in JST tokens. Just ten days after launching, the protocol already boasts liquidity exceeding $9 million.

The August 18 launch of JustSwap saw TRX collateralization increase by 20% within just 24 hours, with DECC/TRX representing the dominant market followed by USDT/TRX and USDJ/TRX.

TRON is on a quest to become the number one defi platform, at a time when ETH gas fees have gone through the roof. To that end, a strategic partnership was agreed with Waves earlier this month, with the pair connecting their respective blockchains’ smart contract languages to advance their defi goals.

The agreement meant that TRX, as well as BTT, JST, and other TRC20 tokens became available on the Waves blockchain via Gravity swaps and were automatically listed on Waves’ DEXs. Waves’ range of tokens also became available on the TRON blockchain.

According to its latest 14-day summary, accounts on TRON are closing in on eight million while transactions have surpassed 1.1 billion.

Altcoin News, Blockchain News, Cryptocurrency news, News
Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

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