TRON has been known for its popular stablecoins and recently, they shared their mid year summary about the four major TRON-based tokens and gave us an overview of each TRC20-based token performance since its launch.
TRON has four major stablecoins which are USDT, USDJ, TUSD and USDC.
📢#TRON mid-2021 summary Part Seven
⚒️Strong Alliance of Four TRON-based Stablecoins
🤗Let’s walk through another boom in the stablecoin race. pic.twitter.com/UrGL0Rysbz
— TRON Foundation (@Tronfoundation) October 4, 2021
Since the launch of the TRC20-based stablecoins, it generated interest within the TRON community and there has been impressive growth for each stablecoin.
Let’s check out each and get to know more about their numbers.
What is TRC20-USDT?
— Justin Sun 🅣🌞 (@justinsuntron) May 13, 2021
USDT (TRC-20) is a U.S. dollar-pegged stablecoin issued by Tether on the TRON blockchain and it is one of the most popular coins asides from BTCTRON, ETHTRON, and TRC20-TUSD. It also uses a TRON address for deposits and withdrawals which takes place on the TRON blockchain.
The token is tied to the USD on a 1:1 ratio, which makes it a lot less volatile than other cryptocurrencies.
Currently, TRC20-USDT is the most circulated stablecoin with over 500,000 transactions daily and it has a 35.9 billion circulating supply with over 6.27 million unique addresses.
What is TRC20-USDJ?
(1/2)👇Check out the Current Circulation of four Stablecoins On #TRON#TRC20–#USDT 31.99+ billion#TRC20–#TUSD 322+ million#TRC20–#USDJ 269+ million#TRC20–#USDC 108+ million
Stablecoins will continue to play an important role and thrive in the crypto market. pic.twitter.com/uVe2weOktJ
— Justin Sun 🅣🌞 (@justinsuntron) July 2, 2021
TRC20-USDJ is a decentralized stablecoin issued on the TRON blockchain and it is pegged to the value of the US dollar (USD).
TRC20-USDJ is backed by collateral assets, generated through decentralized smart contracts on the TRON network and to generate USDJ users would only need to simply collateralizing TRX to borrow USDJ or staking their TRX in exchange for USDJ.
In the event that they want their TRX back, they can return USDJ or JST to redeem their TRX.
TRC20-USDJ has a $289 Million circulating supply and over 17.5 billion TRX had been staked with this impressive stablecoin.
What is TRC20-TUSD?
(1/3)📢Today, we are pleased to announce that $TUSD @tusd_official has officially launched on TRON as #TRC20–#TUSD, bringing the most transparent #stablecoin, fully collateralized and independently attested live on-chain to the #TRON Network!https://t.co/eIT78cl9jO pic.twitter.com/J0tv0Rgvqi
— Justin Sun 🅣🌞 (@justinsuntron) April 9, 2021
TRC20-TUSD token is TRON’s version of the TrueUSD on the blockchain and it adopts the fungible-token-friendly TRC20 standard, which is almost the same as ETHTRON and BTCTRON.
Every TUSD token would be a bridge to convert value between fiat money and digital currency.
The USD-pegged stablecoin has a 300 million circulating supply with over 300,000 unique addresses on the network.
What is TRC20-USDC?
— TRON Foundation (@Tronfoundation) June 30, 2021
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. It is the 2nd largest stablecoin in the market behind USDT and they have a whopping $25 Billion market cap.
This fully collateralized USD-pegged stablecoin has a 200 million circulating supply with 300,000 unique addresses.
The four major TRC20-based stablecoins are supported by a number of cryptocurrency exchanges.
TRON is expecting another boom of their TRC20-based stablecoin and it is just a matter of time when would this happen, but we guarantee that these impressive numbers would definitely hit sky high.
For more news and updates, see Tron Spark.