TRON DAO Launches TRON-Peg USD Coin to Enhance Cross-Chain Transactions

Geneva, Switzerland, November 7, 2024 — TRON DAO has officially introduced the TRON-Peg USD Coin (TRON-Peg USDC), a new cross-chain stablecoin designed to facilitate seamless, borderless transactions across the TRON and Ethereum blockchains. The launch marks an important step in expanding TRON's stablecoin ecosystem and enhancing the functionality of USDC within the TRON network.

Streamlined Cross-Chain Transfers

TRON-Peg USD Coin enables users to transfer USDC between Ethereum and TRON with ease. As a critical bridge for stablecoin transfers, it allows users to move assets between the two networks without friction.

The process is simple: when USDC-ERC20 is deposited into Ethereum’s bridge contract, the system mints an equivalent amount of TRON-Peg USD Coin on TRON and sends it directly to the user’s TRON address. Conversely, users can move TRON-Peg USDC back to Ethereum by initiating a transfer through a dedicated token contract on the TRON network. Additionally, cross-chain transactions are supported via exchanges that facilitate these token transfers.

Free Cross-Chain Transfers with Full Transparency

One of the standout features of TRON-Peg USD Coin is its free cross-chain transaction service, allowing users to move assets between networks without incurring additional fees.

The stablecoin's reserves are fully transparent, updated in real-time to ensure that the total reserves always exceed the supply. This provides users with confidence that the TRON-Peg USD Coin is fully backed, with the ability to redeem it 1:1 for USDC on Ethereum. The system offers complete visibility into these reserves, enhancing trust in the token.

Security and Auditing

Security is paramount for TRON-Peg USD Coin, which has undergone rigorous auditing by ChainSecurity, a leading blockchain security firm. In a comprehensive 24-page audit, ChainSecurity reviewed the cross-chain bridge’s mechanics and interactions between the TRON and Ethereum networks to ensure the integrity and robustness of the system.

Ioannis Sachinoglou, Lead Engineer at ChainSecurity, commented on the audit: "We worked closely with the TRON team to analyze the bridge’s infrastructure, identifying and addressing potential vulnerabilities. Our audit has strengthened the bridge’s security and enhanced user trust in the process. We’re excited to continue supporting TRON’s efforts to secure their ecosystem."

A Step Toward the Future of Stablecoins

With TRON holding a dominant position in the stablecoin market—accounting for more than one-third of the global supply—TRON DAO’s launch of TRON-Peg USD Coin reinforces its commitment to expanding the reach and usability of stablecoins. As TRON continues to grow, the TRON-Peg USD Coin aims to become a trusted, secure, and efficient tool for cross-chain transactions, supporting users worldwide.

About TRON DAO

TRON DAO is a decentralized autonomous organization (DAO) dedicated to the mission of accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Since its launch in 2017 by Justin Sun, the TRON network has achieved remarkable success, with over 270 million total user accounts, more than 8.8 billion transactions, and a total value locked (TVL) exceeding $16 billion (as reported on TRONSCAN).

TRON has also integrated BitTorrent since July 2018, a pioneer in decentralized Web3 services, which boasts over 100 million monthly active users. The TRON network is now recognized as the leading network for USDT (Tether) stablecoin, overtaking Ethereum in April 2021 in terms of circulating supply. In December 2021, TRON became a fully decentralized blockchain, governed by its community. Most recently, TRON was selected as the official blockchain for the Commonwealth of Dominica to issue Dominica Coin (DMC), a national blockchain-based fan token.

About TRON-Peg USD Coin

TRON-Peg USD Coin is a stablecoin bridging solution built on the TRON blockchain, collateralized by USDC on Ethereum. It allows users to move USDC seamlessly across the two ecosystems, empowering efficient cross-chain transactions within the TRON network. With its transparent reserve system, free cross-chain services, and robust security measures, TRON-Peg USDC offers a reliable and user-friendly tool for enhancing the interoperability of digital assets.

For more information, visit https://tronusdc.io