TRON DAO Reveals TRON-Peg USD Coin, Ensuring Secure and Audited Transactions

• TRON DAO launched TRON-Peg USD Coin to enable seamless cross-chain transfers of USDC.

• The TRON-Peg USD Coin provides free cross-chain transactions with real-time transparency of reserves.

TRON DAO has officially launched the TRON-Peg USD Coin (TRC-20 USDC), a cross-chain stablecoin solution designed to facilitate seamless transactions between the Ethereum and TRON blockchains. This launch expands the stablecoin ecosystem of TRON and gives users increased efficiency in the cross-chain transfer of USDC, thus opening up more ways to use USDC within the TRON ecosystem. Through the bridging of USDC across both the Ethereum and the TRON networks, TRON DAO seeks to improve the liquidity of stable and cross-border transactions.

How The Money Moves Between Chains

The TRON-Peg USD Coin is intended to facilitate seamless transfer of value between the two networks, with USDC as the intermediary. It involves the deposit of USDC-ERC20 on an Ethereum bridge contract, which automatically mints TRON-Peg USD Coin on TRON. 

The equivalent amount of the TRON-Peg USD Coin is then deposited directly into the user’s TRON address. The users are also allowed to transfer their Ethereum funds back by using the token contract on the TRON platform or any other exchange that supports the token.

TRON-Peg USD Coin allows users to use the cross-chain services for free and all the reserve assets are displayed in real-time to ensure that they are backing the services offered. The reserves continuously exceed the total supply, ensuring that users can redeem their TRON-Peg USDC on Ethereum at a stable 1:1 rate.

Security remains a top priority, with TRON-Peg USD Coin undergoing rigorous audits by ChainSecurity, a leading blockchain security firm. Ioannis Sachinoglou, lead engineer at ChainSecurity, highlighted the thorough review of TRON’s cross-chain infrastructure, commending TRON DAO for its proactive approach to safeguarding user assets. The 24-page audit examined the mechanisms supporting the bridge and analyzed the interactions between the TRON and Ethereum networks, reinforcing TRON DAO’s commitment to contract integrity and user trust.

TRON’s Expanding Role in Stablecoin Technology

TRON is one of the biggest players in the stablecoin market, controlling more than a third of the space. The TRON DAO will seek to enhance the security and utility of TRON-Peg USD Coin as a trusted solution for users who need a stable coin to operate across different blockchains.

As of November 2024, the TRON network has more than 270 million active users with more than 8.8 billion transactions and with total value locked at $16 billion. TRON has the highest supply of USD Tether (USDT), crossed Ethereum in April 2021 and became fully decentralized in December of the same year. In October 2022, TRON also signed a partnership with the Commonwealth of Dominica, which is the first time that a sovereign state and a public blockchain have collaborated.

In related news, TRON DAO recently joined the Chainlink SCALE program, selecting Chainlink’s Data Feeds for its pricing needs. TRON will incorporate Chainlink’s decentralized oracle network into its ecosystem, which is a DeFi platform that oversees more than $7.1 billion in total value locked.