Tron (TRX) continues to appear in limelight with series of ground breaking announcements. The latest development that Tether (USDT) would be deploying a stable coin on Tron blockchain network comes along with 4 intriguing benefits for the entertainment focused blockchain technology as many seems to be unaware of it.
According to a press release issued by BusinessWire, the distributed ledger focused project, Tron (TRX), inked a strategic partnership deal with the world first known stablecoin, Tether (USDT), on March 4, 2019 to bring in more innovations into the space.
While there have been series of claims concerning what the produce of the partnership, it was initially made clear that the alliance would birth the introduction of TRC20-based USDT tokens.
Furthermore, a member of the Tronix community today took to Twitter to highlight four salient benefits Tron would be getting from the migration of the stablecoin.
According to a tweet from TRX colony, below are the four salient profits Tron (TRX) would be entitled to:
- Liquidity increment on decentralized exchanges (DEX).
- Added storage value for TRX holders.
- Less currency volatile for Tron DApp users.
- Increment in the confidence of institutional investor
– Increased liquidity on DEX
– Gives #TRX hodlers new value of storage
– Provides Tron DApp users a less volatile/risky currency to use
– Increase institutional investor confidence in TRX
Q2 can't get here soon enough!
— TRX Colony (@TronColony) March 10, 2019
While praising the Tron (TRX) for the myriads of developments it has churned into the space, TRX colony opined that Q1 2019 would surely be a busy and exciting period for the Tron family as Q2 awaits the implementation of Tron (TRX) – Tether (USDT) collaboration.
The four benefits are no doubt indispensable added value for Tron, while Tron (TRX) has been seeing remarkable changes and growth in the space, the introduction of Tether would surely be a ground breaking advantage for the altcoin. Creating more liquidity on DEX will go along way assisting Tron (TRX) adoption and acceptability in the market, while boosting confidence in the mind of institutional investors is also a feather on the cap of the blockchain technology.
Nevertheless, the two other benefits are undoubtedly top class ones.
After inking the partnership, founder Justin Sun also confirmed the deal as a huge step for Tron (TRX) in disrupting the space with its solutions.
“We are making big steps to achieve decentralized finance with @Tether_to . #TRON will soon have its own stablecoin! This will benefit our entire ecosystem and make it easier for institutions to access the TRON blockchain,” Sun stated.
The CEO of Tether, Jean Louis van der Velde, also declared the move a great step in bringing innovation into the blockchain space.
“This integration underlines our commitment to furthering innovation within the cryptocurrency space as we continue to anticipate the needs and demands of the digital asset community.”