TRON has been known for its popular stablecoins and recently the TRC20 stablecoins have reached an impressive milestone for their average daily transfer volume amounting to $6,542,961,734.
🎉The average daily transfer volume of #stablecoins on #TRON network reached $6,542,961,734 (2022.07.08-2022.07.14)! #USDD #USDT #USDJ #TUSD #USDC pic.twitter.com/cVId6aeD6S
— TRONSCAN (@TRONSCAN_ORG) July 15, 2022
Since the launch of the popular TRC20 stablecoins on the TRON network, it generated waves in the market and most users preferred to have the TRC20 version of the stablecoin due to its fast transaction speed and low fees compared to its counterparts from other blockchains.
List of TRC20 stablecoins on the TRON Network:
The average daily transfer volume of the TRON-based stablecoin would only continue to increase as months go by and expect to see another impressive milestone from the TRC20 stablecoins soon.
What are the different TRON-based Stablecoins?
We start with the most popular stablecoin on TRON which is the USDT-TRC-20 it is a U.S. dollar-pegged stablecoin issued by Tether on the TRON blockchain and uses a TRON address for deposits and withdrawals which takes place on the TRON blockchain. The TRON-based Tether is tied to the USD on a 1:1 ratio, which makes it a lot less volatile than other cryptocurrencies.
The next on the list is the USDC-TRC20 a digital stablecoin that is also pegged to the US dollar, USDC was founded by Circle and Coinbase.
After the USDT and USDC, it is followed by the TRC20-USDJ which is a decentralized stablecoin issued on the TRON blockchain and also pegged to the value of the US dollar (USD), and the TRC20-TUSD which is TRON’s version of the TrueUSD which adopts the fungible-token-friendly TRC20 standard and almost the same as ETHTRON and BTCTRON.
Lastly, the recently launched USDD which is TRON’s algorithmic stablecoin and is also known as the Decentralized USD. It will leverage the power of mathematics and algorithms to achieve the overarching goal of financial freedom for all. The USDD algorithm will ensure that the newest stablecoin on the TRON blockchain maintains its US dollar peg regardless of the market conditions.
What is TRON?
TRON is a blockchain-based decentralized platform founded by the former TRON CEO, Justin Sun in 2017 and it aims to create a free, global digital content entertainment system with distributed storage technology and allows easy and cost-effective sharing of digital content.
⚒️ $TRX has been in a state of #deflation with the total amount of deflation reaching 9.5 billion #TRX, for 37 weeks (2021.10.28-2022.07.13)!! pic.twitter.com/ZoZOu70000
— TRONSCAN (@TRONSCAN_ORG) July 14, 2022
It has a native cryptocurrency called Tronix or TRX and the company is dedicated to building the infrastructure for a truly decentralized internet which they have added blockchain support to different fields such as DeFi, NFT, and GameFi.
What TRON-based stablecoin do you prefer to use? Let us know in the comments section below.
For more news and updates, see Tron Spark.