In an exhilarating development, Justin Sun, founder of Tron Network, announced that work is underway to introduce gas-free stablecoin transfers. This has sparked a lot of reactions, with many applauding Tron’s latest proposed feature, while other users criticized the overdue rollout of the update.
Stablecoin Transfer Without Gas Will Start By Q4 2024 – Justin Sun
IN Posts X on Saturday, Justin Sun announced that the Tron team is working on a recent update that will allow users to send and receive stablecoins without paying gas fees.
For context, gas fees are the fees that accompany every transaction on the blockchain. For stablecoin transfers and most assets, gas fees are typically denominated in each network’s native token, i.e. gas fees for stablecoin transactions on Tron are paid in the TRX token.
However, Justin Sun explains that the recent solution will allow users to conduct stablecoin transactions without the need for TRX or other native assets. Instead, the cost of these transfers will be covered entirely by the stablecoins.
Moreover, a prominent figure from the cryptocurrency world stated that this update will first be rolled out to the Tron blockchain and then expanded to Ethereum and other public EVM-compliant networks.
It is worth noting that while this feature does not eliminate transaction fees, it will likely result in lower gas fees for users who exclusively trade stablecoins. Commenting on this development, some users praised the Tron team for this “innovation”. One of these enthusiasts is Mark Lamb he said:
Interest income funds lower cost of transfers for the global south and underbanked. Transferors and holders fund the super profitable interest collection business. This is the real innovation and reason for cryptocurrencies to exist. Congratulations @justinsuntron
Meanwhile, other users have criticized Tron for coming up with this solution too overdue, even though other blockchains, namely Celo and Internet Computer Protocol (ICP), already offer a similar feature to users.
According to Justin Sun, gas-free stablecoin transfers are set to launch in the fourth quarter of 2024. The Tron founder believes that this feature could encourage enormous companies to offer stablecoins, which would significantly augment cryptocurrency adoption.
Tron Network Thrives on Forceful User Base Despite Market Volatility
In other news, CryptoQuant analyst Ben Sizelove, reported that the Tron blockchain has maintained a solid user base, as evidenced by the augment in vigorous users since the beginning of 2024.
Sizelove notes that this feat was largely fueled by the diverse applications on the Tron network across payments, stablecoins, and word assets. The analyst further notes that Tron has demonstrated a resilient user base in the face of general market uncertainty and has been accompanied by high selling pressure.
Featured image from Wikipedia, chart from Tradingview
