TRON Announces Incentive Plan for Early adopters of USDT-TRON

TRON Announces Incentive Plan for Early adopters of USDT-TRON
TRON announced incentive plan to early adopters of stablecoin USDT-TRON

Earlier this month, TRON partnered with Tether to launch one of the oldest Stablecoin tokens USDT on its blockchain.

In 2018, there are many stablecoins introduced in the market including the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX) and TrueUSD (TUSD). However, the USD Tether was the first stablecoin to leverage the stability of the US Dollar, and allow movements of funds quickly between different exchanges with the help of blockchain. It still commands the majority in stablecoin segment in crypto space.

Thus it is worth noting that there are three variants of USDT now available on three different networks via three different protocols,
  1. USDT aka USDT-Omni - Tether stablecoin issued via the Omni Layer protocol on the Bitcoin network 
  2. USDT-ERC20 - Tether issued via the ERC-20 protocol on the Ethereum network 
  3. USDT-TRON -  Tether issued  via the TRC-20 protocol on the TRON network

Executive Opinion

Tron Founder, Justin Sun said, "USDT-TRON will minimize volatility across the TRON blockchain and boost confidence in the ecosystem. To enable speedy adoption, I'm personally offering this incentive plan to help advance the potential of decentralized finance through USDT-TRON."

The Incentive aka Giveaway Plan

The announcement existing users of USDT-Omni (aka USDT) can exchange their USDT holdings with USDT-TRON at supporting exchanges. TRON will work with Tether to provide 24/7 professional technical support for exchanges and wallets planning to support USDT-TRON.

TRON noted that April 30th is the start date of a 100-day giveaway and claims to offer interest as high as 20 percent to USDT-TRON holders over that period. The overall budget for newly announced giveaways is set to USD $20 million.

Huobi and OKEx have already announced their support for USDT-TRON giveaway plan. snip

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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