USDT is now on TRON

Table of contents:

  1. TRC20 based USDT Introduction
  2. The upside
  3. How to upgrade to TRC20 based USDT

4. Supporting exchanges and wallets

1. TRC20 based USDT Introduction

Tether is now issuing USD-pegged stablecoin USDT on TRON blockchain.

https://tronscan.org/#/token20/TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t

The TRON based token is an upgrade from the OMNI protocol based USDT, which now allows to

  • hold and transfer via smart contract on TRON,
  • with a completely free and transparent process,
  • 0 transfer fee,
  • and instant delivery.

It enables interoperability with TRON-based protocols and Decentralised Applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the TRON Network.

2. The upside

TRON will reward TRC20 based USDT holders with 20 million USDT for 100 days.

From May 5th to August 7th, TRON will be working with the world’s leading digital asset exchanges including Huobi, OKEx, etc. on this campaign. This incentive has 4 distinctive features:

1. Long duration: the whole incentive program lasts for a duration of 100 days;

2. Attractive reward: the annualized interest rate reaches as high as 20%

3. Free of charge: users are expected to pay nothing to get the reward

4. Gigantic prize pool: based on the current total amount of USDT, the total giveaway will be $20 million and there is no cap if there are special circumstances.

More about USDT incentive plan:

https://medium.com/@Tronfoundation/tron-incentive-plan-rewards-earlier-usdt-tron-adopters-847729e72ee5

3. How to upgrade to TRC20 based USDT

- For exchanges or wallets:

1.Contact Official USDT service email (usdt@tron.network). You will be introduced and working directly with Tether team, telling Tether the amount of USDT-OMNI or USDT-ETH to swap

2. Suggest to keep 2 weeks of withdraw supply of USDT-OMNI if needed, and swap the rest to TRC20 based USDT, more details: https://medium.com/@Tronfoundation/exchange-usdt-reserve-design-document-e4abec6d47ce

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

4. 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 the destruction and receiving addresses are correct.

6. 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 pending on the total amount.

7. At the same time, 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 on completing the transaction.

- For individuals/small business institutions:

1.Deposit USDT-OMNI/USDT-ETH to the exchange/wallet that currently supports TRC20 based USDT. Please refer to the TRC20 based USDT supporting exchanges/wallets below

2. Follow exchange/wallet’s instruction on TRC20 based USDT swap notification or announcement.

3. Check your USDT balance.

For more details about how to swap TRC20 based USDT, please visit

https://medium.com/@Tronfoundation/how-to-swap-your-usdt-omni-or-usdt-eth-for-trc20-based-usdt-32fa4eb87437

4. Supporting exchanges and wallets

Ongoing list of exchanges and wallets that support TRC20 based USDT:

TRC20 based USDT Website: https://tron.network/usdt

Service Email: usdt@tron.network

Disclaimer:

For all the USDT related conversations, please make sure you are only communicating with the official email usdt@tron.network or official Telegram @TRONUSDTsupport and following the instructions from these channels. TRON Foundation is not responsible for the results of any swaps or transfers otherwise organized.