Tron is building a gas-free stablecoin solution for Tron, the Ethereum chain.
Tron founder Justin Sun revealed that his team is building a gasless stablecoin solution to make peer-to-peer transfers free for everyone.
Sun hopes to integrate a stablecoin solution on the Tron blockchain this fourth quarter, with Ethereum and other Ethereum virtual machine-compatible public chains soon to follow.
“Transfers can be made without paying any gas tokens, the fees are fully covered by the stablecoins themselves,” Sun explained in a July 6 X post.
But he did not explain how the strategy would work.
Sun believes this could be a game-changer for companies looking to provide gas-free stablecoin services.
“I believe that similar services will take blockchain mass adoption to a new level and greatly facilitate large companies deploying stablecoin services on the blockchain.
Tron currently leads the peer-to-peer stablecoin transfer market and is consistently running two to three times that of second-tier Ethereum, blockchain analytics firm Artemis highlighted in a June 27 X post.
Tron has more than $50 billion worth of Tether (USDT)'s $112 billion in multiple blockchains, according to DeFillama data.
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Tron's solution is comparable to PayPal's PYUSD, which allows certain US-based users to make cross-border payments for free.
Circle's USD Coin (USDC) also allows free transfers via the Ethereum Layer 2 Base Coinbase Wallet.
Circle and cryptocurrency exchange Binance recently removed USDC support on Tron, perhaps giving Tron an incentive to build their own solution.
Tron is considering building a Bitcoin Layer 2 solution that supports a “wrapped” version of Tether – allowing billions of dollars to flow into the Bitcoin ecosystem.
For now, Tron is using existing on-chain protocols to connect USDT and other tokens between Bitcoin and Tron.
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