Justin Sun, the founder of Tron, announced that trading for USD1, a new stablecoin on the Tron network, has officially started. The first trading pairs are now available on the Sun ecosystem, a decentralized exchange built on the Tron blockchain.
According to the announcement, the initial pairs include USDT/USD1, TRX/USD1, and NFT/USD1. This implies that users can now trade Tether (USDT), Tron’s native currency (TRX), NFTs, and the new USD1 stablecoin directly on the Tron Blockchain. These pairs are live on the SunSwap platform, which allows decentralized token swaps. Tron aims to boost the adoption of USD1 and expand its DeFi ecosystem.
Following this, HTX (formerly Huobi) has also announced support for USD1. The exchange is now the first to enable USD1 deposits via the Tron network. In June, World Liberty Financial (WLF) revealed plans for a major USD1 expansion.
WLFI co-founder Zak Folkman announced at the Permissionless conference in Brooklyn that the organization is working on its first audit report as well as a user-friendly mobile app. USD1, backed by U.S. Treasuries and cash equivalents, has already reached a $2.2 billion market cap just months after launching in March.
BounceBit added support for USD1 in its CeDeFi Portal. Users can now use USD1 in the “Auto’ Strategy,” which finds low-risk ways to earn passive income through both centralized and decentralized platforms.
Also Read: WLFI Airdrops $47 USD1 Stablecoin to Early Supporters
