Justin Sun Announces The Launch Of First 10 USDT On Tron Network

Justin Sun Announces The Launch Of First 10 USDT On Tron Network

Tron founder and BitTorrent CEO, Justin Sun has announced the launch of first 10 Tether (USDT) stablecoins on the Tron blockchain. Sun shared his excitement on Twitter as he stated that this is a huge milestone for the stablecoin and a new beginning for it as well.

“Thrilled to announce that the first 10 USDT has been issued in TRON blockchain. This is a huge milestone for stablecoin and a new beginning for USDT. For partner, exchanges, and wallets, feel free to support it.”

The USD-pegged stablecoin issued by the tether, USDT-Tron is based on the Tron network that offers numerous benefits to the users. As per the website, the token will offer instant delivery and zero transfer fee ensuring a completely free and transparent process.

The USDT-Tron token will allow developers to write programs that are “highly extensible” based on the smart contract.

As we have previously reported, Sun has repeatedly emphasized its usefulness for developers. It states USDT-Tron enables interoperability with Tron-based protocols and decentralized applications (Dapps) while further allowing the users to exchange and transact fiat pegged currencies across the Tron network.

A number of big exchanges already support USDT-Tron token such as Bitfinex, Huobi, and OKEx among many others. USDT-Tron further offers a reward plan that will commence from April 30 to August 7th for a period of 100 days.

“Fake It Till You Make It”

Tether which is one of the most controversial stablecoin out there recently came out in the open with its each USDT token not being pegged by only a US Dollar reserves in terms of cash equivalents but also include other assets and receivables from loans made by tether to third parties.

But it’s not only tether, but its new partner Tron is just as much of a controversy’s favorite child, in fact, even more. After the Tesla debacle, the most recent has been when Samson Mow, the CSO of Blockstream who said Sun is an example of “fake it till you make it” and Sun “made it.”

Another instance was shared by Charlie Lee of Litecoin,

“… I approached the booth Tron and I asked her… tell me more about [Tron]. And then she was like, ‘you’ve never heard of Tron it’s a number-10 cryptocurrency on CoinMarketCap. I’m like no I’ve only heard of the top five and asked if she knew what the number 4 coin was and she’s like, ‘I don’t know what the number 4 coin is but Tron is number 10’.”

At the time of writing, Tron has been trading at $0.0267 with 24-hours gains of 0.59 percent, as per Coinmarketcap data.

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