Justin Sun has announced that developers are now working on a stablecoin transfer solution that can function without gas fees on the TRON (TRX) network.
The crypto billionaire says the new service is set to roll out later this year, initially on TRON before expanding to Ethereum (ETH) and other EVM-compatible chains.
“Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves.
This innovation will first be implemented on the Tron blockchain and later support Ethereum and all EVM-compatible public chains.
We anticipate launching this service in Q4 of this year. I believe that similar services will greatly facilitate large companies in deploying stablecoin services on the blockchain, elevating blockchain mass adoption to a new level.”
At time of writing, it’s unclear how the new service will be able to operate without gas fees.
Last month, market intelligence firm Lookonchain reported that the 24-hour trading volume of Tether’s USDT on TRON stood at $53 billion while payment giant Visa’s was only at $42 billion.
“The 24-hour trading volume of USDT on TRON Network is $53 billion, exceeding Visa’s average daily trading volume. Visa’s trading volume in Q1 2024 was $3.78 trillion and the average daily trading volume was $42 billion.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post Justin Sun Says TRON Team Designing New Gas-Free Stablecoin Transfer Solution appeared first on The Daily Hodl.
