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Tether’s USDT Launches on Tron (TRX) Network

  • Alex Dovbnya
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    Justin Sun announces that presently new USDT stablecoins are being emitted on the Tron blockchain

Tether’s USDT Launches on Tron (TRX) Network
Cover image via u.today
Contents

The head of Tron, Justin Sun, spreads word on Twitter that at the moment, new Tron-powered USDT coins are appearing on the network. The process was finally initiated on Tuesday, April 16.

A Tron-improved stablecoin

A post on Tron’s Medium blog reminds readers of the main features that the new USD-backed stablecoin will be. The upgraded USDT token allows for storing and transferring coins via Tron’s smart contracts, with high speed of operations and no transaction fees.

The new coin is also to be combined with protocols running on Tron and Tron dApps, which enables users to conduct trading operations with fiat-backed coins on Tron.

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What’s in it for Tron

When Justin Sun wrote about the upcoming launch of Tron-USDT in his recent tweets, he emphasized that by this move he expects to provide extra liquidity to the Tron DEX, as well as improve the current dApp system of Tron.

Justin Sun also hopes to attract more institutional investors to Tron’s ecosystem.

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Tron’s USDT incentive program

Previously announced by Justin Sun as part of the incentive plan, owners of the newly issued stablecoin will be provided with a $20 mln bonus in Tron-USDT. This program will last slightly over three months.

In order to convert initial USDT-Omni or USDT-ETH coins into USDT-Tron, users are required to contact Tether by email. The former will later be destroyed and the latter sent to the recipient.

"Sci fi grunge damaged metallic corridor" image by 123rf

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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