To HODL or not HODL, is that a question to you?

The TRON network has continued to evolve over the last few years, providing blockchain support to multiple other tokens. Justin Sun, the founder of TRON, announced in a press release on March 21 that they will be incentivizing users with a 20% interest rate to transition away from other protocols of the world’s most popular Tether stablecoin (USDT), towards the new USDT on the TRON network, aka USDT-TRON, a TRC-20 protocol-based USDT.

According to the company, it is expected to elevate the liquidity of the platform, improve the overall value storage as well as interoperability with the DApps on the TRON network. In theory, it could also make the blockchain more amenable to enterprise-level partners and institutional investors.

After the release, we’ll probably see the number of users and transaction volume to surge significantly on the TRON network in the coming weeks, as the company promises to splash an equivalent of US$20 million interest, plus a brand-new Tesla, to attract users.

What’s so special with the TRC-20 USDT?

The TRON network consists of both TRC-10 and TRC-20 tokens. While the former is the native token, TRC-20 is a more sophisticated version that provides all-in-one functionality. It is used for smart contracts on the TRON blockchain that is fully compatible with ERC-20, allowing developers to easily switch from ERC-20 to the TRON network. Although the TRC-20 is still emerging, it is gaining traction for its more powerful and customizable features.

Given the highly lucrative giveaways, will you consider swapping your stablecoins to the TRON blockchain?

If your answer is “No” ……

Some traders are concerned whether the company can actually back its coin by US dollars. Last year, there was an explosion in the number of fiat-backed cryptocurrencies released on the market, such as Gemini’s GUSD and Circle’s USDC, but Tether remained the dominant stablecoin with the highest trading volume (75% of all stablecoin). With Tether’s support, it seems that the we can be confident about the new stablecoin within the TRON ecosystem.

But if your answer is “Yes” ……

OKEx will have three Tether protocols listed, with USDT-ERC20 and USDT-Omni already being supported on the platform. Look forward to the high interest rate — TRON is offering an attractive interest rate as high as 20% to anyone who converts to USDT-TRON on OKEx over a 100-day period from April 30. The interest rate will gradually decrease on every weekend through the end of June, so the earlier you own USDT-TRON, the more the interest you can gain.

Risk Warning: Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

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