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Tron [TRX] announces new incentive scheme for USDT-TRX holders to lure USDT-Omni users

Akash Anand

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Tron [TRX] announces new incentive scheme for USDT-TRX holders to lure USDT-Omni users
Source:Pixabay

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.”





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Bitcoin

Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator

Priya

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Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.



“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.





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