Okex and Huobi Global added support for USD Tether, which is pegged to the Tron-based US dollar. The Tron Foundation developed the collaboration with Tether. Currently, the two exchanges support three stable coin markets USDT-Tron (TRC20), USDT-OMNI, USDT-ERC20 (Ethereum). The token will be launched on the Okex and Huobi global exchanges on April 30, 2019.
According to Okex’s press release:
To meet user demand for stable coin trading, OKEx will support USDT-TRON, the TRC-20 based USDT token jointly developed by TRON and Tether, as well as the Airdrop for USDT-TRON holders.
… It has a TRON deposit address and uses the TRON network for deposits and withdrawals.
Rewards for early adopters and Tron’s growth
The USDT-TRON token’s Annual Percentage Return (APR) is designed to give rewards to its early adopters. The initial APR is 20%, but this will decrease over time. Nevertheless, the program is to roll out investments for a total of 100 days. The total amount of incentives will be $ 20 million. The incentives are only rewarded in USDT-TRON.
Justin Sun asked the users of the exchanges to adapt to the swap from USDT-OMNI – USDT-TRON.
#Hodl USDT-TRON to earn initial 20% APR in USDT-TRON. 100 day campaign. $ 20M initial budget with no hard limit. I just say ‘. ? $ TRX $ BTT pic.twitter.com/jyo7QcrtbE
– Justin Sun (@justinsuntron) March 21, 2019
The stable coin will be available on major exchanges, and the reward programs are lucrative. Therefore, the number of transactions on the Tron network would increase significantly. Tron has built a vibrant ecosystem for dapps and issued digital assets. The move will fuel Tron’s growth. This will also help exchanges take advantage of Tron’s transaction options, which are considerably cheaper than Ethereum currently.
The returns proposed by ARP are extremely lucrative. Are you going to trade your stable coins to earn the rewards?
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