A successful completion of the TRC20-based USDT Incentive Plan 2.0-An airdrop with a total value of 779369.47681USD, benefiting a total of 51357 accounts

TRON Foundation
Aug 16 · 3 min read

In early March, TRON announced its partnership with Tether to issue a USD-pegged USDT (USDT:USD=1:1) on TRON. The cooperation between the two enhanced TRON’s ecosystem, bettered the overall value storage, brought more liquidity to the DEX (decentralized exchanges), and provided a more convenient access to blockchain for business partners and institutional investors.

In order to encourage more users to switch from USDT to TRC20-based USDT, TRON launched a 200 million RMB incentive plan 2.0 from July 16 2019 to August 15 2019. Token holders had the opportunity to receive their daily rewards of interest from the airdrop. Annualized rate is up to 100% and varies at different stages of the airdrop.

The incentive plan 2.0 targeted to early USDT users lasted for 31 days and was wildly popular because of its big five characteristics: long duration, high rewards, free of cost, large total volume, and fast delivery. Up to this point, TRON has completed all 31 airdrops for early users , giving out a total of 776931.269590 USDT to a total of 51357 accounts. According to Bitfinex’s USDT price, the total value of the airdrop is 779369.47681 USD.

The TRC20-based USDT is a USD-pegged stable coin issued on TRON by Tether. By using smart contract, people can issue, hold, and transfer TRC20-based USDT with complete transparency. There will be no cost. The transfer will be done within seconds, and you can scale the program as you like with the help of smart contract. If you’d like to upgrade to TRC20-based USDT in the future, please refer to the following instructions:

- Exchange or wallet:

1. Contact the official service email of USDT (usdt@tron.network), and you will speak directly with the Tether team to let them know the amount of USDT-OMNI or USDT-ETH that you would like to exchange.

2. We recommend keeping some USDT-OMNI enough for two weeks and convert the rest to TRC20-based USDT.

3. Tether will confirm the destruction address and ask for the TRC20 based USDT receiving address.

4. The exchange would need to make sure the TRON address is activated. The simplest way is to have 1 TRX on it.

5. Both parties double confirm that the destruction and receiving addresses are correct.

6. The exchange will transfer the amount of USDT-OMNI/USDT-ETH to Tether’s OMNI/ETH destruction address. Normally, multiple confirmation steps would be involved in this process depending on the total amount.

7. At the same time, the exchange would ask Tether to transfer the same amount of TRC20 based USDT to the exchange’s TRC20 based USDT receiving address.

8. Tether would transfer the requested amount of TRC20 based USDT to the exchange’s receiving address.

9. Both parties confirm that the transaction is completed.

- Individual/Small Business Institutions:

1. Deposit USDT-OMNI/USDT-ETH to exchanges and wallets who currently support TRC20-based USDT. For more information, please go to the official website: https://tron.network/usdt

2. Follow the exchange/wallet’s instruction on TRC20-based USDT exchange.

3. Check your USDT balance.

For more information about TRC20-based Incentive Plan 2.0, please go to:
https://medium.com/tron-foundation/raybo-announces-new-trc20-based-usdt-incentives-plan-d04027407dc9

More information about TRC20-based USDT: https://tron.network/usdt

If you have any questions about the TRC20-based USDT, please contact usdt@tron.network

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