Tron-based USDT Stablecoin gets Listed on Three Major Crypto Exchanges: Huobi, OKEx and Gate.io
Tron Foundation has announced a partnership with Tether (USDT) to create a new stablecoin. The introduction of USDT to the Tron network will make transaction free and swift. Also, it will increase the use cases for Tether.
Justin Sun, CEO of the TRON Foundation, believes that working with Tether will boost their goal of increasing the popularity of the Tron blockchain.
`So far, three leading crypto trading platforms have confirmed their support for Tron-based USDT. The three are – Huobi Global, which is based in Singapore, OKEx, which is based in Malta, and Gate.io.
The news about the Tron-based USDT was first announced at the begging of this month. The coin is based on Tron blockchain’s TRC 20 protocol. Seen as an improvement to the standard USDT, the coin follows the standards maintained on the Tron blockchain will be compatible with all DApps and protocols on the network.
Both Huobi and OKEx exchanges said that the decision to list the ‘improved’ USDT was inspired by their clients’ demand for the introduction of stablecoins. The addition of USDT-Tron comes after the two platforms had already introduced other versions of USDT, namely USDT-Omni, which is based on the Bitcoin protocol, and the USDT-ERC-20, which is based by the Ethereum protocol.
Additionally, the TRON Foundation has launched an exclusive incentive program for holders on the Tron-based USDT. Investors will receive 20% as the annual percentage rate for holding the digital currency. This rate is much higher than that of its closest rival, USDT-Omni. Moreover, USDT-Tron holders will get extra tokens for a period spanning 100 days.
Earlier this year, the introduction of the Tron DApp program and the launch of the BitTorrent Token caused an increase in the price of TRX. However, the value of cryptocurrency has since suffered the effects of the bear market.