Justin Sun Unveils Incoming Gas-free Stablecoin for Tron

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Tron founder Justin Sun recently unveiled plans to introduce a stablecoin allowing gas-free transfers on the Tron blockchain. The plan according to Sun is to expand it to Ethereum and Ethereum Virtual Machine (EVM) compatible chains.

In an X post by Sun, the gas fees will be “entirely covered by the stablecoins themselves.” If his plans go according to schedule, the Tron blockchain service will launch in the fourth quarter of this year.

Gas-Free Transfers and Expansion Plans

The Tron founder is optimistic that the innovation will significantly impact the broader space and enhance the adoption of stablecoins.

“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,” Sun wrote.

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Analysts maintain that the growth trajectory of stablecoins and altcoins lies in the widespread adoption of these digital assets. Although there is increasing acceptance and a favorable regulatory climate in some countries, the pace of adoption is still below their projections.

Tron to Compete with Established Stablecoins

Notably, the proposal by Tron’s founder will position the asset against PayPal’s PYUSD. PayPal facilitates fee-free cross-border payments globally, after swapping stablecoins for USD. However, a major distinction between PayPal and what Tron will offer is the elimination of such an intermediate step. In essence, Sun’s proposed stablecoin will streamline the entire process.

Meanwhile, Coinbase currently offers fee-free USDC transfers on the Ethereum Layer 2 blockchain Base, made through Coinbase Wallet. Although Coinbase likely subsidizes these transfers, Sun’s stablecoin is proposing a native mechanism where the stablecoins themselves cover the gas fees. This unique difference could attract significant interest and boost the blockchain.

Strategic Timing and Market Dynamics

Analysts consider the timing of the proposed unveiling for the fourth quarter as strategic. Notably, both Circle and Binance have discontinued USDC support on Tron. Therefore, it serves as a strong motivation for Sun to push for a successful native stablecoin on the Tron network. This will serve to fill the void left by USDC and attract users seeking fee-free stablecoin transactions.

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