Interview with Sun Yuchen, founder of TRON: The circulation of USDT on TRON exceeds that of USDT on Ethereum for the first time, becoming the most critical traffic portal in the industry

According to the data on April 12, TRON and TEDA company Tether reached a cooperation to jointly issue TRC20-USDT with a circulation of more than 23.9 billion pieces, and the number of independent addresses exceeded 2.9 million, surpassing Ethereum ERC20-USDT. In this regard, Jinse Finance exclusively interviewed Justin Sun, founder of TRON and CEO of BitTorrent, to gain an in-depth understanding of the reasons for the rapid development of TRC20-USDT, as well as the future development trends and opportunities in the stablecoin field. The following is the interview record: Jinse Finance: According to the data on April 12, the circulation of TRC20-USDT exceeded 23.9 billion, and the number of independent addresses exceeded 2.9 million, which has surpassed Ethereum ERC20-USDT. In your opinion, TRC20-USDT is popular in the market What are the reasons for the favor? Justin Sun: Since the release of TRC20-USDT, users use TRC20-USDT to transfer funds at low cost and arrive in seconds, which greatly improves the bad situation of ERC20-USDT network congestion and high handling fees, bringing users a refreshing and smooth experience . It can be said that after the birth of TRC20-USDT, it took only 2 years to come from behind and surpass ERC20-USDT. This is the inevitable result of market choice as a large number of users expressed their support and affirmation for TRC20-USDT with their own actions. DOGE joint creation: As long as there is a crash between Binance and Tether, the encryption game will be over: Jinse Finance reported that Dogecoin DOGE co-founder Billy Markus (social media name Shibetoshi Nakamoto) said that as long as there is a crash between Binance and Tether, The crypto game will be over. He concluded that more and more people realize that excessive centralization is a "big weakness, and it's already there when people buy into it." (cryptopotato) [2022/11/20 22:09:22] It must be mentioned that since the TRON network has been in operation for 3 years, it has continuously upgraded its technology and expanded its capacity, and there has never been a single security incident. The popularity and credibility of TRC20-USDT have also laid a solid foundation for the safe operation of TRC20-USDT. Jinse Finance: Since the beginning of 2020, USDT has been issued continuously, with a short interval and a large number. Is this related to the trend of the encryption market? What impact will the continuous issuance of USDT bring? Justin Sun: First of all, the additional issuance of USDT is definitely related to the trend of the encryption market. On the one hand, since 2020, the encryption market has been rising all the way. In addition to the currency prices hitting new highs repeatedly, the contract trading volume has also surged. Under the turbulent market, contract users face the dual risks of currency price fluctuations and market fluctuations, and U-standard contracts have become the choice of more and more contract users. On the other hand, as market sentiment continues to heat up, some users have increased demand for stable currency preservation and risk avoidance, and the issuance of additional USDT has become a behavior to meet market demand. Bank of America: Investors view BTC as a safe-haven asset again: October 22 news, according to Bank of America Corp., Bitcoin's trend relative to other assets After the asset trades for a while, investors see it again as a safe-haven asset. The 40-day correlation between BTC and gold is around 0.50, up from around 0 in mid-August. Although BTC’s correlations with the S&P 500 and Nasdaq 100 are high at 0.69 and 0.72 respectively, they have flattened out and are below their historical levels a few months ago. (Bloomberg) [2022/10/23 16:35:42] The most direct impact of the continuous issuance of USDT is the enhancement of market liquidity and the increase of arbitrage opportunities. From the perspective of the TRON public chain, the additional issuance of USDT will increase the value carried by TRON, attracting more users to enter the TRON ecology, and the transactions on the chain will become more frequent, further improving the TRON ecology. Strengthen and prosper. TRC20-USDT has also become an extremely fast entrance for users to enter DApps. Using TRC20-USDT can quickly experience many TRON DeFi products, such as JustSwap, JustLend, etc. TRC20-USDT makes the entire TRON ecological products have better liquidity, and makes the TRON DeFi ecosystem develop in a faster, better and more sound direction. This is undoubtedly a win-win situation. Coingecko Lianchuang: The Federal Reserve’s interest rate hikes will make the encryption market full of challenges in the next 12-18 months: Jinse Finance reported that Coingecko co-founder Bobby Ong predicted on social media that because the Fed raised interest rates to curb inflation, and is now in a rate hike cycle So the next 12 to 18 months of the encryption market will be full of challenges. In addition, Bitcoin and cryptocurrencies are now closely related to traditional finance and are considered technology stocks/risk assets, so the decline in the stock market will also affect the crypto market. [2022/5/21 3:32:31] Jinse Finance: The competition among stablecoins is heating up day by day, and new game modes are also emerging. How do you view the current development of the stablecoin industry? What are your thoughts on new models such as algorithmic stablecoins? Justin Sun: What is more certain is that with the gradual arrival of the era of decentralized digital finance that changes production relations, the DeFi field will attract more traditional assets and institutional funds. What the blockchain can do is to improve efficiency and reduce cost, as well as solving privacy and security issues. Among them, the role of stable coins is becoming more and more prominent, and I believe that the scale of stable coins in the encrypted market will become larger and larger. Stablecoin is a track that TRON has been deeply involved in. At present, the market value of TRX has exceeded 10 billion US dollars, the total number of users of the public chain has exceeded 29 million, and the number of transactions has exceeded 1.7 billion. The TRON network has surpassed Ethereum to become the entire industry The busiest public chain in China. In April 2020, TRON’s stablecoin USDJ was born along with JUST, the first DeFi project on TRON. Since its development, it has already had a large number of users. At present, the supply of USDJ has reached 276 million US dollars, and the pledged amount of TRX has reached 15.1 billion. Ethereum project accelerator Decent Labs will operate in the form of DAO: According to news on February 24, Parker McCurley, CEO of Ethereum project accelerator Decent Labs, revealed in an interview at this year's ETH Denver Ethereum Conference that they will transition to DAO. Parker McCurley said that the advantage of being a DAO is that you can get contributors from all over the world with various skills and create more opportunities. It is reported that when Decent Labs transforms into Decent DAO, they will recruit Web3 talents around the world. [2022/2/24 10:12:36] TRON will continue to improve the underlying infrastructure of the public chain in the future. I believe we will surpass Ethereum in more indicators in the future. Continuously enrich the application scenarios of the TRON version of stablecoins, and constantly consolidate the ecological future of the TRON version of stablecoins. In the near future, TRON version of stablecoins will become the first choice for entry into the industry and the largest and most critical traffic portal for the entire industry , everyone, please look forward to it. Regarding the algorithmic stablecoin, I personally think that it is still in the early stage of development. As the fourth generation of stablecoin, the future development prospect is also very broad. TRON will also deploy in the direction of algorithmic stablecoin in the future. In the future, we will continue to deepen the deployment of stablecoins. TRON also welcomes more high-quality stablecoins to enter the TRON ecosystem and work together to create a better user experience. Web3.0 social platform Monaco Planet sold out 10,000 Yacht NFT blind boxes: News on November 15th, Monaco Planet, a new generation of Web3.0 social platform invested by Three Arrows Capital and IMO Ventures, completed the public sale of Yacht NFT on November 15th , all 10,000 Yacht NFT blind boxes were sold out within 20 minutes, and the gas cost reached 1,400 US dollars at peak times, which caused serious congestion on the Ethereum network. The project destroyed up to 285 Ethereum in a short period of time, and once ranked first in the Ethereum destruction list, surpassing Uniswap and OpenSea. [2021/11/15 6:53:37] Jinse Finance: What are the current obstacles to the development of the stablecoin market? Which breakthrough points do you think are most likely to trigger drastic changes in the stablecoin industry? Justin Sun: Stablecoins are now an indispensable part of the cryptocurrency field. For stablecoins, the uncertainty of policy regulation is undoubtedly the biggest obstacle to the development of the current stablecoin market. The encryption market is becoming more and more popular, and major traditional financial giants have entered the market one after another. The uncertainty of regulatory policies in countries around the world has intensified, and the development of stablecoins will also be subject to certain restrictions and obstacles. As for the breakthrough point of stablecoins, I think it is the combination of stablecoins and high-quality public chains. This time the TRON version of USDT surpassed the Ethereum version of USDT is a good proof. No matter in terms of performance, transaction speed, ecological soundness, or community consensus, TRON is the leader in the market. The TRON version of USDT leverages the powerful TRON ecology, low transfer fees, and second-level transfers. , attracted more users, became the first choice of hundreds of millions of users in the industry, and built the most stable bridge connecting the encrypted world and the real world. Through strong cooperation with TRON, USDT has broken through and other public chains The bottleneck encountered in cooperation has ushered in a new round of outbreaks. Golden Finance: In your opinion, what value does stablecoin have besides value preservation and risk avoidance? What application scenarios does TRON create for TRC20-USDT? Justin Sun: First of all, stablecoins are a vital part of the public chain ecology, and a public chain ecology without stablecoins is incomplete. From the perspective of performance, we see that Ethereum has been in a state of congestion for a long time, and the Gas fee is extremely high. Compared with Omni and ERC20, the confirmation time takes several minutes to several days, and the TPS of the TRON network can reach the upper limit. Thousands of levels, can achieve transaction confirmation in seconds. Users use TRC20-USDT to avoid transaction congestion, and meet the needs of various investment and participation in ecological applications. In addition to value preservation and risk avoidance, one of the biggest functions of TRC20-USDT is to provide TRON on TRON Developers and tens of millions of users have provided a compliant US dollar stablecoin channel, which has become a must-have for industry entry and the largest and most critical traffic portal for the entire industry. What is exciting is that TRC20-USDT is currently supported by many exchanges such as Binance, Huobi, OKEx, Bitfinex, MXC Matcha, BiKi, KuCoin, Gate.io, P-network Poloniex, etc. Users can choose different exchanges according to their preferences. It is very convenient and fast to trade on the exchange. TRC20-USDT already has clear use cases. Many shops, individuals, and enterprises have begun to use TRC20-USDT as a means of payment. I also believe that more and more people will use TRC20-USDT as a payment tool in the future. There will also be institutions and banks. Using TRC20-USDT for liquidation is an inevitable trend. In addition, TRON ecological products such as the decentralized token exchange protocol JustSwap, the decentralized lending platform JustLend, the oracle machine JustLink, BitTorrent, and the world's first decentralized live broadcast protocol DLive Protocol have long supported TRC20-USDT. Formed the prototype of TRON decentralized finance, we will continue to work hard to provide a steady stream of power for innovation in the decentralized financial world. Golden Finance: In recent years, more and more projects have been challenging the dominance of Ethereum. As a player on the public chain track, how do you view the development trend and prospects of Ethereum? How does TRON plan its own development strategy? Justin Sun: I am personally very optimistic about the encryption market this year. At the moment when Bitcoin is about to hit a new high, the DeFi field is still promising. However, the performance of the Ethereum network cannot be improved in a short time, the transaction speed is slow, and the handling fee is high. The disadvantages will inevitably make a large number of users and developers turn to high-performance public chains, and TRON is undoubtedly the best choice. TRON’s version of USDT officially surpassed Ethereum’s USDT this time, which is a historic moment, and it also proves that Ethereum is not insurmountable. As one of the three major public chains in the world, TRON has been continuously enriching the business ecology of the blockchain, and is committed to creating a comprehensive ecological map. We have launched a series of architectural products such as decentralized stable currency, decentralized exchange, decentralized lending, and decentralized oracle. The circulation of ETH (TRC20-ETH) based on TRON chain has reached 60,000 pieces , The circulation of BTC (TRC20-BTC) issued based on the TRON chain has reached 25,000 pieces, and the large-scale issuance of cross-chain assets on the TRON chain has once again proved the high compatibility of the TRON ecosystem and the strong throughput. On March 8, the TRON five-coin simultaneous mining century mining has achieved many successes, and the total locked value of TRON DeFi has risen strongly, showing the strong potential of TRON's DeFi ecology. I personally think that it is a relatively normal range for TRON to maintain 10%-20% of the transfer fee between Ethereum and Bitcoin in the future, that is to say, there is room for 10-20 times the fee increase in the future, With 20 times the room for improvement, the transfer rate and speed of TRON still have a very competitive advantage against Ethereum. TRON hopes to adjust the incentive mechanism of the entire network, focusing on incentivizing long-term faith holders who participate in online voting and staking. Through a virtuous circle, TRON will be built into a fast, efficient, and cost-competitive platform with a good governance incentive mechanism. Decentralized network continuously strengthens our industry's most important underlying infrastructure and the superior positioning of the second-tier network. For developers and users, the TRON network is decentralized, safe, stable, low in fees, and fast in speed. For super representatives and pledge holders, the TRON network has high returns and stable income, which clearly motivates long-term believers.

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