Geneva, Switzerland – November 7, 2024 – TRON DAO has introduced the TRON-Peg USD Coin on its blockchain, a cutting-edge cross-chain stablecoin solution that enhances global transaction capabilities within the TRON ecosystem. This initiative allows smoother, faster cross-chain transfers and broadens options for users to utilize USDC across TRON’s growing stablecoin infrastructure.
Table of Contents
- Streamlined Cross-Chain Functionality
- Transparent and Secure Cross-Chain Transactions
- Pioneering Stablecoin Technology
- About TRON DAO
- Overview of TRON-Peg USD Coin
Streamlined Cross-Chain Functionality
TRON-Peg USD Coin makes USDC transfers between Ethereum and TRON easy, serving as a stablecoin bridge. Qualified users can get TRON-Peg USD Coin through a quick cross-chain process. Once USDC-ERC20 is deposited into Ethereum’s bridge contract, the system identifies it, mints the equivalent amount on TRON, and sends it directly to the user’s TRON wallet.
Likewise, users can transfer TRON-Peg USD Coin back to Ethereum via TRON’s designated token contract. Additionally, some exchanges support cross-chain transactions between TRON and Ethereum.
Transparent and Secure Cross-Chain Transactions
TRON-Peg USD Coin offers free cross-chain transactions. Its assets are fully transparent, updated in real-time to ensure reserves consistently exceed total supply. This transparency guarantees users can redeem USDC on Ethereum at a 1:1 ratio. Moreover, users can verify reserves at any time.
Security is a top priority. TRON-Peg USD Coin underwent a detailed audit by ChainSecurity, a leading blockchain security firm led by ETH Zurich experts. The 24-page audit demonstrates TRON’s dedication to security. Ioannis Sachinoglou, ChainSecurity’s lead engineer, stated, “This audit allowed us to thoroughly examine TRON’s cross-chain infrastructure. Working with the TRON team, we identified and resolved potential vulnerabilities, boosting the system’s strength and user confidence. We look forward to ongoing collaboration with TRON to maintain ecosystem security.”
Pioneering Stablecoin Technology
As a major stablecoin network, TRON DAO aims to enhance TRON-Peg USD Coin’s security and user-focused features. These improvements strengthen its position as a reliable choice for stablecoin users globally, supporting TRON’s mission of secure, streamlined transactions worldwide.
About TRON DAO
TRON DAO is a community-driven organization focused on promoting internet decentralization through blockchain technology and dApps.
Founded in 2017 by Justin Sun, TRON has advanced significantly since its MainNet launch in May 2018. In July 2018, TRON acquired BitTorrent, a Web3 leader with over 100 million monthly users. As of November 2024, TRON boasts over 270 million user accounts, 8.8 billion transactions, and $16 billion in total value locked, according to TRONSCAN.
TRON also holds the world’s largest circulating supply of USDT, surpassing Ethereum since April 2021. By December 2021, the network became fully decentralized, governed by the community. In October 2022, TRON was selected as the national blockchain for the Commonwealth of Dominica, marking a historic public blockchain partnership with a sovereign nation. TRON-based tokens, including TRX, BTT, NFT, JST, USDD, USDT, and TUSD, now have legal status in Dominica.
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Media Contact
Yeweon Park
press@tron.network
Overview of TRON-Peg USD Coin
TRON-Peg USD Coin, backed by USDC on Ethereum, acts as a bridge on TRON, enabling seamless USDC transactions and transfers between Ethereum and TRON.
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