Tron’s [TRX] partnerships and updates are meant to take the Tron Foundation, and the cryptocurrency market into the realm of mass adoption. Tron’s recent tie-up with Tether [USDT] made waves, with Tron’s Justin Sun talking up the partnership’s advantages over the Omni network.
In a recent Twitter post, the Founder of the Tron Foundation spoke of a new $20 million incentive plan related to the USDT-TRX partnership. Details revealed that the initial Annual Percentage Rate [APR] for holding the cryptocurrency will be 20% which was significantly higher than its competition. The company’s release also specified that USDT-TRX holders will be rewarded more USDT-TRX during a campaign that will go on for 100 days. Tron’s attempts at dominance over the USDT-Omni tie-up was made evident after the initial budget of $20 million was announced without a hard cap.
The APR will be available to users from the end of April, and will go on till 7 August. Over the course of this time, the APR rate will change from 20 percent to 1 percent, by the end of the 100-day campaign. The new program by Tron is aimed to focus on one thing: migrating the users on the USDT-Omni network to the Tron network. While announcing the USDT-TRX launch, Sun had spoken about the advantages of the Tron ecosystem over the Omni ecosystem.
The Foundation had tweeted,
“TRON’s partnership with @Tether_to to bring $USDT on the #TRON blockchain will make transactions faster and free, and provide more use cases. This is a significant improvement from the last generation of stable coins like Omni.”
Following which, the Tron CEO stated,
“First of all, USDT Tron will offer the liquidity in Tron decentralized exchange. Second, USDT Tron will offer TRX holder, a new way of value storage. Third, USDT Tron will provide the DApp users, a new way to play DApps, which also minimize the risk of the cryptocurrency. Fourth, USDT Tron will give Tron blockchain new legitimacy and the increase the confidence of the institutional investor in that show.”