The Tron Foundation and its Chief Executive Officer [CEO] Justin Sun have been in the news multiple times over the past few weeks because of the number of partnerships and updates coming out of organization’s stables. One of the major developments, when it came to Tron, was its tie-up with Tether [USDT], which led to the creation of the TRC20-USDT stablecoin.
In the recently concluded live stream conducted by Justin Sun, he talked about why the partnership was imperative and what the partnership meant to the end user. The Tron CEO stated that the team-up paves a way for the layman to get into crypto as the trust factor from Tether plays an integral part in building a positive sentiment. In his words:
“Unlike Bitcoin and Ethereum, Tether is 100 percent tied to the dollar. It is very important for the common people when they get into cryptocurrency to have USD to trade with the cryptocurrency that they choose to buy or sell.”
According to the Tron CEO, USD is an infrastructure for businesses and for anyone who wants to know about crypto, it is very important to leverage “all of its use cases”. He admitted that some people may not see USDT as exciting as the BitTorrent token [BTT] or the BitTorrent network acquisition, but stressed on the fact that the partnership was “vital to the ecosystem”. He added:
“In order to encourage people to use Tron-USDT in the future, there is a $20 million incentive plan to reward early adopters. It will also incentivize the people as it is supported by almost all the cryptocurrency exchanges. At the same time this incentive can also be utilized from the Tron wallet as well.”
The incentive program will begin from the end of April and will conclude on August 7. The 100-day campaign proposed by the Tron Foundation will work with the idea of migration of users on the USDT-Omni network to the Tron network. During the initial announcement for the incentive program, Sun had stated:
“TRON’s partnership with @Tether_to to bring $USDT on the #TRON blockchain will make transactions faster and free, and provide more use cases. This is a significant improvement from the last generation of stable coins like Omni.”
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