• Fri, 24 May 2019, 09:08 PM
  • All times are UTC
  • Edition:
Link copied

USDT launches on TRON Blockchain

Wed, 17 Apr 2019, 09:15 am UTC

The first ten USDT has been issued in TRON Blockchain, Justin Sun, CEO and Founder of Tron Foundation, announced in a tweet.

The announcement follows the partnership between TRON and stablecoin project Tether formed in March.

Tether is currently the eighth largest cryptocurrency by market cap. Backed by the U.S. dollar, it was launched in October 2014 with the objective of allowing movements of funds quickly between different exchanges, while benefiting from the stability of the US Dollar.

USDT is now the official stablecoin issued by Tether on the TRON network. The TRON Foundation had said that the TRC20-based USDT will enable interoperability with TRON-based protocols and Decentralised Applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the TRON Network.

TRC‌-20 is a technical standard used for smart contracts on the TRON blockchain for implementing tokens with the TRON Virtual Machine (TVM). It is fully compatible with ERC‌-20.

In an online post today, the TRON Foundation said, “The TRON based token is an upgrade from the OMNI protocol based USDT, which now allows to hold and transfer via smart contract on TRON, with a completely free and transparent process, 0 transfer fee, and instant delivery.”

TRON further announced that it will reward TRC20-based USDT holders with 20 million USDT for 100 days. Starting April 30th, it will work with leading crypto exchanges including Huobi, OKEx, etc. on this campaign, ending August 7th.

Exchanges and wallets seeking to upgrade to TRC20 based USDT are required to contact official USDT service email. They will work directly with Tether team, telling Tether the amount of USDT-OMNI or USDT-ETH to swap.

Individuals and institutions looking to upgrade to TRC20 based USDT would be required to deposit USDT-OMNI/USDT-ETH to the exchange/wallet that currently supports TRC20 based USDT and follow their instruction on TRC20 based USDT swap notification or announcement.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,107.73 (+3.39%)
  • Ethereum (ETH) $253.66 (+4.02%)
  • XRP (XRP) $0.390200 (+3.10%)
  • Bitcoin Cash (BCH) $415.47 (+4.04%)
  • Litecoin (LTC) $101.53 (+14.77%)
  • Bitcoin (BTC) $8,107.73 (+3.39%)
May 24, 2019 (Friday)
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
German engineering giant Bosch trials Ethereum blockchain
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
Bank of Russia to review proposal on gold-backed cryptocurrency
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
Robinhood Crypto is now in New York
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
California resident sued for alleged $26M crypto Ponzi scheme
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
Rep. Swalwell accepting bitcoin donations in bid for US presidency
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
Binance CEO CZ seeks compensation for reputational damage from Sequoia
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
Coinstar extends bitcoin buying service to 21 US states
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.