Tron Foundation (TRX) is expanding its partnership program. A new collaboration is announced between Tron (TRX) and DuckDAO, a new-gen platform for decentralized token offerings (IDOs).
DuckDAO stresses its bet on cross-chain, goes live on Tron (TRX)
According to a press release shared with U.Today, the DuckDAO platform has entered a long-term strategic collaboration with Tron (TRX), a programmatic blockchain and smart contracts environment.
After integration with Binance Smart Chain (BSC) and Polkadot (DOT), the DuckDAO platform adds a third smart contract environment to its suite. DuckDAO allows early-stage projects to organize token offerings in a decentralized manner—so-called Initial DEX Offerings, or IDOs. This DAO operates two native assets, DDIM and DUCK coins.
The Tron (TRX) platform was chosen by the DuckDAO team due to its low-to-no transaction fees and very fast transaction finality. These features significantly reduce operational costs and improve the user experience of decentralized applications, including decentralized financial protocols (DeFis).
Justin Sun, founder of TRON (TRX) and CEO of BitTorrent (BTT), notes that this partnership is of paramount importance to Tron's DeFi progress:
Forging partnerships with excellent blockchain solutions like DuckDAO has been paramount to TRON's growing success. We are excited to be collaborating with the DuckDAO team to further expand the capabilities of both projects.
New opportunities for Tron community and TRX holders
Within the framework of this partnership, the projects that leverage Tron's smart contract functionalities can seamlessly participate in DuckDAO's initial DEX offerings to raise funds for further development.
Also, TRX holders can now take part in all the initiatives of a passionate DuckDAO community.
As covered by U.Today previously, DuckDAO recently integrated Chainlink (LINK) oracles to ensure accurate price broadcasting for Ether-based assets.
DuckDAO's IDOs help early-stage projects raise funds daily. For instance, on March 25, 2021, the platform completed fundraising for Ethereum-based decentralized escrow Ethbox (EBOX).