SAN FRANCISCO, March 22, 2019 /PRNewswire/ -- Justin Sun, founder of TRON, announced a new incentive plan to reward USDT-TRON holders who have adopted Tether's newest stablecoin into their portfolios.
Sun announced a 100-day giveaway beginning April 30, offering to pay out interest rates as high as 20 percent to USDT-TRON holders over that period. Cryptocurrency exchanges Huobi and OKEx recently announced plans to support the giveaway. Based on projected holdings around the world, the total outlay is expected to exceed $20 million.
"USDT-TRON will minimize volatility across the TRON blockchain and boost confidence in the ecosystem," Sun said. "To enable speedy adoption, I'm personally offering this incentive plan to help advance the potential of decentralized finance through USDT-TRON."
TRON in early March announced it will collaborate with Tether, based in the British Virgin Islands, to introduce USDT to the TRON blockchain. The move will help TRON greatly elevate its existing decentralised applications (DApps) ecosystem and improve overall value storage. It also makes the blockchain more accessible to the enterprise-level partners and institutional investors.
USDT-Omni is the USDT issued by Tether, based on the BTC network. The currency address is the BTC address, and the currency is taken to the BTC network. The protocol used by USDT-Omni is the omni layer protocol built on the BTC blockchain network.
Users can swap their existing USDT-Omni for USDT-TRON at supporting exchanges. TRON will also be working with Tether to provide 24/7 professional technical support for exchanges and wallets that wish to support USDT-TRON.
Since its mainnet launch in June 2018, TRON has been working steadily to provide a highly smart and scalable ecosystem for blockchain developers. TRON recently announced a hard fork that will increase performance and account management. It is steadily adding both centralized and decentralized exchanges to make it easy for consumers and businesses to trade digital tokens.
Launched in October 2014, Tether was created in response to a clear market need to allow movements of funds quickly between different exchanges, while benefiting from the stability of the US Dollar. While there have been several alternative stablecoins launched since March 2018, Tether still enjoys market dominance. Several large companies, including Facebook and JPMorgan, recently have discussed using blockchain to speed money transfers and minimize volatility across their networks.
TRON is creating a boundary-free decentralized internet that inspires innovation across industries. Founded in September 2017 by Justin Sun, TRON is the world's largest decentralized network and BTT connect BitTorrent to the world of Blockchain, enabling faster downloads and torrent lifetimes, creating a tokenized content ecosystem that benefits 100M+ existing users. TRON is connecting thousands of developers across the world through its consumer-focused ecosystem based on Blockchain, cryptocurrency, dApps, and leading peer-to-peer file sharing products; respectively TRON, Peiwo, BitTorrent & µTorrent.
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