- Tether is the most widely used stablecoin, and is pegged to the US dollar
- Previously available as a token on top of Ethereum, it is now also available on Tron
- TRON plans to give away 20 million TRC-20 USDT stablecoin to holders for 100 days
A frictionless transition
Per a blog post by the TRON team, the leading stablecoin whose creators formerly claimed was backed at 1:1 by the United States dollar, is now live on the TRON network.
The TRON team has hinted that the TRC-20 USDT is an upgrade to the OMNI protocol-based stablecoin and holders can now carry out zero-fee, transparent, super fast and frictionless transfers via smart contracts.
The Justin Sun-led TRON team has also made it clear that the new TRC-20 USDT will support interoperability with a vast array of TRON-based protocols, as well as decentralized applications (dApps) and users will also be able to transact and exchange fiat pegged currencies seamlessly across the TRON network.
TRON giving away USDT
To celebrate this huge milestone in its history, the TRON team has said that it plans to reward holders of the TRC20 based USDT with an exciting 20 million USDT over 100 days.
Reportedly, the reward program starts on April 30, and runs until May 7, and several top crypto exchanges including Huobi, OKEx, Bitfinex, Gate.io and more, will offer support for the TRC20 USDT.
Holders of the TRON-based USDT are not required to pay any amount to receive the rewards.
How to upgrade to TRC20 USDT
Individuals and small businesses interested in migrating from the OMNI-powered USDT to the new TRC20 token only need to send their USDT-OMNI/USDT-ETH holdings to a cryptocurrency exchange or wallet that supports the TRC20 USDT and follow the specific instructions laid down by the exchange or wallet, to complete the process.
Cryptocurrency exchanges interested in supporting the TRC20 USDT, are required to contact the Tether team via [email protected] and tell them the exact amount of USDT-OMNI or USDT-ETH they want to swap and follow the instructions from Tether.
Despite the crypto winter, TRON is one of the distributed ledger technology projects that are not feeling the depressing cold quite as badly as others.
On March 29, 2019, Blockchain Reporter informed that TRON had acquired CoinPlay, the world’s first app store for blockchain-based applications.
At press time, the price of TRON (TRX) is $0.027, with a market cap of $1.80 billion.