Huobi Global and TRON have jointly announced the TRC20-USDT, a two-phase bonanza, where users will get exclusive benefits from trading the TRON based Tether on the crypto exchange. As per the announcement, users with net deposits of more than 100 TRC20-USDT will get a 30% APR as reward. These users with minimum deposits will be ranked, and the top 20 ones will get 320,000 TRC20-USDT in total between them. The distribution will be as follows:
1st Place – 100,000 TRC20-USDT
2nd Place 60,000 TRC20-USDT
3rd Place 40,000 TRC20-USDT
4th Place 20,000 TRC20-USDT
5th Place 10,000 TRC20-USDT
6th – 20th Place will get 6,000 TRC20-USDT each.
The promotion offer is valid from October 22 to November 1 and has a few terms and conditions to which each participant must adhere in order to be eligible for the rewards. In the official announcement on Huobi’s website, it was stated,
TRC20-USDT is the USDT issued by Tether based on the TRON network. The currency deposit address is the TRON address, and the recharge and withdrawal will be taking place on the TRON network. The TRC20-USDT uses the TRC20 protocol. At that time, Huobi Global will support USDT of three forms: Omni-USDT, ERC20-USDT and TRC20-USDT.
Tether was launched on TRON‘s TRC20 protocol in August, and since then, it has been breaking into major crypto exchanges. Prior to this promotional offer by Huobi, TRC20-USDT was launched on Binance, which had announced a similar reward, but for 16% APR. TRON chief Justin Sun had teased about the collaboration hours before the official announcement on Twitter, which left the fans guessing about the outcome.
— Justin Sun (@justinsuntron) October 18, 2019
Tron is among the fastest-growing crypto-blockchain networks, though it has had a fair share of controversies, especially, Sun’s infamous fallout from the Power of One Lunch with Warren Buffett. However, the company has improved leaps and bounds, with more than 600 dapps running on the Tron Network.