Tron Announces $20 Million Incentive Plan for Early USDT TRX Adopters
Tron has announced a new incentive plan for the early adopters of USDT Tron in the form of interest rates that will provide the annualized rate as high as 20 percent.
“In order to give back to the community members, and celebrate the cooperation between Tether and TRON, on March 21, Singapore time, TRON announced a total of $20 million incentive plan, to encourage users to convert their USDT holdings into USDT-TRON, so that they can enjoy a faster, more economic and more concrete payment experience,” reads the official announcement.
The duration of this program is from April 30 to August 7 lasting for 100 days. The total giveaway is of $20 million with no cap in “special circumstances.”
As per this incentive system, Tron will work with crypto exchanges including OKEx and Huobi to offer “attractive” interest rates paid without fees in USD-Tron for those who convert their USDT-Omni into USDT-Tron.
Moreover, Token holders will receive an airdrop bonus on a daily basis with up to 20 percent annualized bonus rate.
Earlier last month, Tron partnered up with Tether to issue USDT that will help Tron in elevating its existing decentralized application (Dapp) ecosystem and increase the liquidity. Moreover, Tron insists it will make its blockchain more accessible to the institutional investors and enterprise-level partners.
According to the founder of Tron and CEO of BitTorrent, Justin Sun, it will drive Tron and Dapp adoption:
“USDT-TRON will firstly bring more users to the industry because it is easier for those who are unfamiliar with digital currency to understand and accept. As a result, more people will take notice of TRON, and the whole industry will benefit.”
This USDT-Tron partnership further enables the operability with Tron-based protocols and Dapps while allowing its users to transact fiat pegged currencies across the Tron network. Given the fact that USDT is pegged by dollar, it will allow the users to mitigate the effects of price fluctuations and enable the scalable applications for Dapps, reports Tron.
At the time of writing, Tron has been trading at $0.0267 with 24-hours gains of more than 13 percent.