In an exciting announcement, Tron’s founder Justin Sun has declared his team’s intent to create a gas-free stablecoin solution aimed at making peer-to-peer transfers available at absolutely no cost. The objective is to roll this out on the Tron blockchain in the coming quarter, extending thereafter to Ethereum and other Ethereum Virtual Machine-compatible public chains.
The idea is simple but innovative: transfer operations can be executed without requiring users to shell out for any gas tokens, with the fees being absorbed solely by the stablecoins themselves. Although the technicalities of how this system will function have not been detailed yet, Sun firmly believes this bold step could revolutionize the market, encouraging companies to venture into offering stablecoin services and pushing blockchain adoption to unprecedented heights.
Currently, Tron holds the reins in the peer-to-peer stablecoin transfer sphere, regularly processing twice, or even three times more volume than the second forerunner, Ethereum. Tron is already the host to more than $50 billion worth of Tether’s USDT. The proposed gas-free stablecoin solution could well be a challenger for PayPal’s PYUSD, which offers free cross-border transactions to some US-based users.
Circle’s USD Coin Ethereum layer-2 Base through Coinbase Wallet also enables free transfers. Thus, with Circle and cryptocurrency giant Binance recently discontinuing USDC support on Tron, it could be the perfectly timed incentive for Tron to develop their unique solution. The team is also toying with the idea of crafting a Bitcoin layer-2 solution to sustain a “wrapped” version of Tether, potentially driving a torrent of billions of dollars into the Bitcoin market.