SUN, the first integrated platform for stablecoin swap, stake-mining, and self-governance on TRON, launched a new USDC pool (USDC+2USD) a few days ago.
The new USDC pool would support swaps between USDC, USDD, USDT, and as well as that between USDC/2USD.
📢Thrilled to announce that a new USDC pool (USDC+2USD) is NOW LIVE on https://t.co/KFtGKsS4xB
🙌Welcome to experience for lower handling fees, lower transaction slippage and lower impermanent loss
— SUN.IO (@defi_sunio) June 2, 2022
Adding and removing liquidity would allow users to either deposit or withdraw the three stablecoins which include the USDC, USDD, and USDT or directly deposit/withdraw 2USD.
With the new USDC pool, the existing USDC pool would now be renamed to “USDC old pool” and still supports swaps between USDC/USDT/USDJ/TUSD as well as that between USDC/3SUN.
SUN’s newest USDC pool would have its advantages compared to the previous pool and it provides a lower handling fee, transaction slippage, and impermanent loss, in addition to that it would provide a better swap efficiency and security to all of its users.
What is USDC?
USDC is a digital stablecoin that is pegged to the USD and it was founded by Circle, a global financial technology firm and the cryptocurrency exchange Coinbase.
USD Coin is managed by a consortium called Centre, which is an open-source technology project by Circle and Coinbase.
USDC was first announced in May of 2018 and was launched in September of the same year.
I know we say it a lot, but we’re just getting started…🚀 $USDC has already grown by $10B in 2022, bringing fast, secure transactions to the crypto ecosystem. (Thanks to @Delphi_Digital for the chart) pic.twitter.com/wfUflB0xhT
— CENTRE (@centre_io) March 16, 2022
USD Coin is the 2nd largest stablecoin in the market behind USDT (Tether) and it has a market cap of over 25 Billion USD.
Last year, TRON was one of the 10 blockchains that provided support to USDC.
Asides from their partnerships with different blockchains, they have cooperation with the world’s largest financial services corporation Visa to allow the use of USDC for transactions on their payment network.
What is SUN.io?
SUN.io platform is TRON’s first one-stop platform that supports stablecoin swap, token mining, and self-governance. SUN.io started as SUN Genesis Mining which was also a social experiment and it focuses on the DeFi potential of TRON during its early days.
SUN.io is well-known for its stablecoin swapping feature called SunSwap which is the upgraded JustSwap after being acquired by SUN.io and it is officially the largest decentralized exchange in the whole TRON ecosystem.
#SUN Buyback&Burn report📢
🔥Total burned >> 36,974,215.86 $SUN (worth $335,287) as of May 26th
🗓️To be burned >>3,447,397.68 $SUN (worth $31,261) in next round
— SUN.IO (@defi_sunio) May 26, 2022
This year SunSwap upgraded its swapping mechanism to V2.0 which enables users to add liquidity to trading pairs of any two TRC-20 tokens and there will be no need for TRX as an intermediary to swap TRC20 tokens.
Asides from the SunSwap feature, they also provide users with multiple staking options and allow them to vote in order to decide the weights of liquidity pools.
With the new USDC pool on the SUN platform, do you expect more additional pools to be added in the future? Let us know in the comments section below.
For more news and updates, see Tron Spark.