Tron founder Justin Sun has announced his team's development of a gas-free stablecoin solution.
Tron founder Justin Sun has announced his team's development of a gas-free stablecoin solution. In a post on July 6, Sun explained that this new stablecoin would allow transfers without requiring any gas tokens, as the fees would be covered by the stablecoins themselves. However, he did not provide specific details on how this mechanism would function.
Sun plans to integrate this innovative solution on the Tron blockchain by the fourth quarter of this year, and will “later support Ethereum and all EVM-compatible public chains.” Sun believes that this gas-free stablecoin could revolutionize the way companies offer stablecoin services, significantly boosting blockchain adoption. "I believe that similar services will greatly facilitate large companies in deploying stablecoin services on the blockchain, elevating blockchain mass adoption to a new level," Sun posted.
Currently, Tron leads the market in peer-to-peer stablecoin transfers, consistently processing two to three times the volume of Ethereum, according to blockchain analytics firm Artemis. Tron hosts over $50 billion of Tether's $112 billion in value issued across multiple blockchains, based on data from DefiLlama.
This new solution could position Tron as a competitor to PayPal's PYUSD, which offers certain U.S.-based users the ability to make free cross-border payments. Additionally, Circle's USD Coin (USDC) on Ethereum layer-2 Base via Coinbase Wallet also allows for free transfers, highlighting a growing trend towards cost-free stablecoin transactions.
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