Geneva, Switzerland, November 7, 2024 – TRON DAO has officially launched the TRON-Peg USD Coin on the TRON blockchain, an innovative cross-chain solution designed to streamline borderless transactions and broaden TRON’s stablecoin ecosystem. By facilitating seamless and efficient cross-chain transfers, TRON-Peg USD Coin expands the possibilities for users to leverage USDC across the TRON ecosystem.
Efficient Cross-Chain Functionality
TRON-Peg USD Coin enables seamless USDC transfers between Ethereum and TRON, serving as an essential stablecoin bridge. Qualified users can easily acquire TRON-Peg USD Coin through a streamlined cross-chain process: when USDC-ERC20 is deposited into Ethereum’s bridge contract, the system detects the transaction, mints an equivalent amount of TRON-Peg USD Coin on TRON, and transfers it directly to the user’s TRON address.
Similarly, general users wishing to move TRON-Peg USD Coin back to Ethereum can initiate the process through the designated token contract on TRON. Cross-chain transactions between TRON and Ethereum can also be conducted through supported exchanges.
Transparent and Secure with Free Cross-Chain Services
TRON-Peg USD Coin offers users free cross-chain transaction services. Additionally, its reserve assets are fully transparent in real-time, ensuring that reserves consistently exceed the total supply. This guarantees that users can always redeem their USDC on Ethereum at a 1:1 ratio. Users can verify reserve assets in real-time.
Security remains a top priority, with TRON-Peg USD Coin rigorously audited by ChainSecurity, a leading blockchain security company led by security experts from ETH Zurich. The comprehensive 24-page audit reinforces TRON’s commitment to user security and contract integrity. Ioannis Sachinoglou, lead engineer at ChainSecurity, stated: “This Tron-Peg USD Coin bridge audit allowed us to explore TRON’s cross-chain infrastructure in depth. We analyzed the bridge’s mechanisms, as well as the interactions between the TRON and the Ethereum networks. Collaborating closely with the TRON team, we worked to identify and address potential vulnerabilities, ultimately reinforcing the bridge’s robustness and enhancing user trust. We’re looking forward to further collaborating with TRON and supporting the security of their ecosystem.”
Shaping the Future of Stablecoin Technology
With TRON’s position as a major player in the stablecoin market, representing over one-third of the entire stablecoin supply, TRON DAO is committed to continuously refining TRON-Peg USD Coin with enhanced security and user-focused value. These enhancements aim to position TRON-Peg USD Coin as a trusted choice for secure, seamless transactions, empowering users worldwide.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017 by Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the integration of BitTorrent, a pioneer in decentralized Web3 services, boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of November 2024, it has over 270 million total user accounts on the blockchain, more than 8.8 billion total transactions, and over $16 billion in total value locked (TVL), as reported on TRONSCAN.
In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO . Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens – TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.
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Media Contact
Yeweon Park
press@tron.network
About TRON-Peg USD Coin
TRON-Peg USD Coin is a stablecoin bridging tool on the TRON blockchain that is collateralized by USDC on Ethereum. It allows users to seamlessly utilize USDC for different types of transactions within the TRON ecosystem and transfer USDC seamlessly between Ethereum and TRON.
Media Contact
Sally Chen
pr@tronusdc.io
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