Tether issued USD-pegged stablecoin USDT on TRON blockchainm like an upgrade from the OMNI protocol based USDT, which now allows to hold and transfer via smart contract on TRON both with a completely free and transparent process.
Tron’s (TRX) is really trying to go mainstream. They are actually updating within the blockchain and developing all way long. Also they are partnering with major organizations. One of the biggest Tron revelations of 2019 has been its connections with USD-pegged stablecoin USDT and on April 18, USDT was officially launched on the Tron blockchain.
They wrote on their blog:
“USDT enables interoperability with TRON-based protocols and Decentralised Applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the TRON Network.”
Also announced was that TRON will reward TRC20 based USDT holders with 20 million USDT for 100 days. From April 30th to August 7th, TRON will be working with the world’s leading digital asset exchanges including Huobi, OKEx, etc. on this campaign. This incentive also has 4 distinctive features meaning the incentive program lasts for a duration of 100 days and there is attractive reward as well. The annualized interest rate reaches as high as 20%.
It is also free of charge meaning users are expected to pay nothing to get the reward. And there’s more! There is a huge prize pool. Based on the current total amount of USDT, the total giveaway will be $20 million and there is no cap if there are special circumstances.
CEO of Tron Foundation, Justin Sun tweeted:
“Today #USDT is launched on TRON’s blockchain. $USDT is issued by @Tether_to on the #TRON network based on #TRC20 protocol. There will also be a total reward of 20 million $USDT for 100 days. $USDT will be fast, free and smart! #TRX #BTT”
Sun has worked a lot about adopting the USDT-Tron partnership ever since its beginning, and he also said that that the team-up will make USDT more reliable, faster and cheaper in the future.
“The current solution is very obsolete which is extremely expensive, slow and unreliable for other stable coins. So once we gain the USDT-Tron infrastructure, I think the whole Tron community and the whole blockchain community will benefit from the move away from Bitcoin.”
The Tron community or the so-called ‘Tronics’ have been invested in every update of the partnership as the last announcement about the USDT-Tron launch date caused the price of TRX to shoot up by 8 percent.
Tron begun a 100-Days campaign to promote the use of USDT based on TRC-20, meaning they begun a rewards program that would run for a hundred days. Under the campaign, the user stands a chance to earn about 20% annualized return on USDT-Tron for the first five days of the program by holding the tokens during the hundred day period.
This incentive, intended to help facilitate TRON USDT adoption will be instated through leading digital asset exchanges, such as OKEx, Huboi, Gate.io, Bitfinex, and various other partners.
Given the severe price volatility of cryptocurrency throughout the last year, a period which is now being referred to by some as the “crypto winter,” the advent of a stablecoin will be a welcome addition to TRON merchants and developers looking for more peace of mind in their transactions.