Justin Sun gives new information about the USDT Tron Stablecoin
Home News Justin Sun gives new information about the USDT Tron Stablecoin
Marcus Misiak –
In a new Episode of the Crypto Chick Podcasts, Justin Sun, the founder of Tron and CEO of BitTorrent, informed about the recent announcement of the USDT Tron Stablecoins.
In the interview with Rachel Wolfson Sun said that the importance of stable coins is that they are tied to Fiat and not the fluctuations in the crypto-markets are exposed to, so that innovators and developers get easier access to the Kryptoshäre and a stable medium of exchange. Stablecoins to speak, according to the Sun, and traders who want to be able to save the value of your crypto currencies, without the need to be constantly large price fluctuations.
Last month, Tron (TRX) has closed with a Tether, a partnership, a new USDT-coin in a network of Tron. Sun said that the Start of the 9. April is planned. The new TRC20-based USDT will support the growing network of decentralized applications by Tron, including the popular DApps for games and gambling. Sun said that the Stablecoin will be an important factor in the Tron network.
With the output of the TRC20-based USDT Tether will be the seventh-largest cryptocurrency by market capitalization fully with the existing protocols of TRON, including decentralized applications (DApps) are compatible. According to the press release, TRON, and USDT want to improve the experience of the “Enterprise-Level partners and institutional investors” and give you more flexibility in the operation of the various functions of the growing TRON network.
To Rachel Wolfson Sun, said:
We encounter in this institutional investor interest. I think, we will do everything to fulfill your desires, because when the institutional Investor comes in this industry, there will be a large demand.
Similar to the introduction of BitTorrent and the subsequent issuance of BitTorrent Tokens (BTTs) wants TRON to expand its sphere of influence through the Integration of existing protocols in its block chain and the network service.
According to the Sun, as the price of Bitcoin (BTC) on 1. April increase of 20%, fought the network to meet the customer demand for USDT transactions. Whenever there is a large BTC price increases or declines gave, said Sun, was overloaded, the Omni-Protocol network. The goal is to transfer USDT from his Omni-Protocol in a more efficient network:
It is impossible to use the USDT on-chain, and all these problems will be solved after the Start of the USDT Tron, and we migrate the majority of the USDT-Omni to USDT-Tron. […] I think the entire industry will benefit. The largest part of the Congestion and the bad experiences with the Stablecoin comes from the Omni-Blockchain, because this is an outdated solution with an extremely expensive, slow and unreliable infrastructure for the Stablecoin.
TRONs USDT “Incentive Plan”
Under the title “USDT-TRON $20M Incentive Plan” intends to Tron to start a campaign with the Launch of Trons USDT, all USDT-TRON-Hodler will be rewarded. The reward system is planned with an initial effective annual rate of interest (Annual Percentage Rate) of 20% for a duration of 5 days (30. April – 4. May) to be very generous.
During the 100-day campaign, the effective annual rate of interest changes depending on the duration of use. For example, for a 5-days-Hodling from the 5. May to 9. May get the Hodler 12% annual interest rate, while for a 14-day Hodling from 1. to 14. June 3% annual interest rate.
The lowest interest for the longest holding period from 15. June to 7. August specified, which corresponds to 1% for 54 holding days. Overall, TRON is a Budget of $ 20 million for the campaign.
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