Tron CEO, Justin Sun just announced in a tweet about the incentive plan made by Tron China partner, Raybo Technology, for TRC20 holders.
This Fintech company, scheduled a new campaign from July 15, 09:00 to August 15, 08:59(PDT) to dole out 30 million dollars to holders of Tether’s TRC20 based USDT.
This incentive is estimated to be over 30 million dollars. Some other big exchange companies will be supporting this incentive program.
The crypto exchanges that will partner with Raybo in extending this great gesture are, OKEx, Huobi, Kucoin, and other exchanges.
Raybo is a technology company based in Beijing, China. It has been a big promoter of blockchain technology, has contributed a lot to the blockchain community. It has embarked on this incentive program to promote the TRC20 based USDT to the blockchain community.
The British based company Tether came into partnership with Tron in March to introduce USDT to Tron blockchain.
The TRC20 based USDT is aimed to minimize the level of volatility in Tron blockchain to promote confidence in the network.
According to Tron CEO, this incentive is aimed to increase the adoption rate and promote decentralized finance through TRC20 based USDT.
What is Included in This 30 Million Incentive Plan?
This incentive plan will yield greater returns than the previous one because its annual interest rate is as high as 100% which is like 80% higher than the previous incentives.
Though it is for 30 days period, the 30 million dollars incentive has no cap.
Individuals and businesses can upgrade to USDT based TRC20 to access this incentive.
Exchanges will need to confirm and activate a Tron wallet address with TRX on it at the point of upgrade.
Those who wish to upgrade will need to contact Raybo’s USDT service team. They will be working directly with this team to go through the upgrade process.