- The creator of Tron, Justin Sun, has revealed intentions to create a stablecoin that users would be able to transfer without having to pay gas fees.
- Sun claims that the stablecoin would launch on the Tron blockchain by Q4, with plans to launch on Ethereum and other chains that are compatible with the EVM later.
Justin Sun, the founder of Tron, revealed intentions on X to create a stablecoin that users may move between without having to pay gas fees. Rather, Sun claims that the stablecoins themselves will pay for the gas costs in full.
Sun’s post states that the stablecoin will initially be available on the Tron blockchain, with plans to later expand to Ethereum and all other blockchains that are Ethereum Virtual Machine (EVM) compatible.
In the fourth quarter of this year, we want to implement this service. Reading through Sun’s X post, I think that these kinds of services will make it much easier for big businesses to implement stablecoin services on the blockchain, which will increase the widespread adoption of blockchain technology.
Regarding the technical intricacies of how the gasless transfers will be accomplished, Sun withheld nothing.
The stablecoin may be positioned to rival comparable products, such as PayPal’s PYUSD, which enables users in the United States to convert stablecoin into US dollars and then send free cross-border payments to any country in the globe. However, Sun’s token, if successful, wouldn’t seem to require that phase; the intermediate step calls for trading out of the stablecoin.
Similar to this, transfers of USDC via Coinbase Wallet to the Ethereum Layer 2 blockchain Base are currently free, which has caused a sharp rise in the stablecoin’s volume on that network. Once more, Coinbase is probably subsidizing the transfers instead of putting in place a built-in system like Sun has suggested, where the stablecoins themselves pay the fees.
With the withdrawal of USDC support on Tron by both exchange Binance and USDC issuer Circle, Sun has even more motivation to create a prosperous native stablecoin on the network he helped build.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
