After a previous announcement to celebrate the achievement of Tron (TRX) – Tether (USDT) alliance with rewards for the community members, Tron Foundation has in a messaged reechoed its commitment in disbursing out a total of $20 million incentive.
With the aim of encouraging crypto users to adoption the incoming asset, USDT-TRON, Tron would be giving out a daily basis incentive with up to 20% annualized bonus rate.
The TRON-USDT asset is an initiative of the collaboration between Tron and Tether with the aim of anchoring the token to USD at the rate of 1:1.
How To Participate in the USDT-TRON Incentive Program
To be qualified for the Incentive Program staged by Tron foundation in commemoration of Tron-Tether partnership, users must be an early adopter of the TRON-USDT asset. Present users of USDT will only need to convert their token into USDT-TRON to qualify.
Tron (TRX) will begin to disburse rewards to people who convert their USDT-Omni into USDT-TRON from April 30 through exchanges like Huobi, OKEx and more, and the program is slated to last till August 7, 2019.
The attractive incentives rates will be given in USDT-TRON, and the whole program lasts for 100 days with an annual interest rate as high as 20% earmarked for adopters.
The amount giveaway sums up to $20 million USDT present worth, and no fees will be charged for getting the reward.
Furthermore, as the program approaches, Tron foundation will be issuing out updates on exchanges and wallets that will support the program.
Tron – Tether Partnership: The Benefit Of TRON-USDT Token
The partnership has tipped of assisting Tron (TRX) in elevating its existing decentralized applications (DApps) ecosystem. The introduction of the new token will allow users have access to a stablecoin with fast transfer and zero transaction fee unlike the existing stablecoins.
The USDT-TRON token allows internetworking between the TRON-based protocols and Decentralised Applications (DApps), as users get access to transact and exchange fiat pegged currencies on Tron Network. The pegging of the token to USD will help mitigate price fluctuations effect.
An increase in Decentralized Exchange (DEX) liquidity and overall value storage of the cryptocurrency is also predicted for Tron as the partnership materializes.
However, users can enjoy a faster, more economic and more concrete payment experience.
Justin Sun, in a statement, said the new development will bring in more users and awareness for Tron and the whole industry.
“We believe that with a faster, more economic and concrete stablecoin payment experience, more ordinary people will start to pay attention and use DAPPs. In addition, we will offer attractive incentives for early adopters, totalling the equivalent of 100 million RMB, to get existing USDT holders to transition to TRC20-based USDT and advance the potential of decentralized finance,” Sun stated.
As Tron continues to run a smooth decentralized ecosystem with hundreds of DAPPs on its network, a boundary-free decentralized internet system is sure of prevailing soon.
Image Credit: Medium.