Tron founder Justin Sun recently announced that his team is developing a gas-free stablecoin solution aimed at making peer-to-peer transfers entirely free. Sun believes this innovation could significantly boost corporate adoption of blockchain technology.
Gasless Stablecoin Solution
According to Sun’s July 6 post on X (formerly Twitter), the new stablecoin solution will eliminate gas fees for transfers by covering the costs through the stablecoins themselves. Although Sun did not elaborate on the exact mechanism, he emphasized that the implementation on the Tron blockchain is expected in the fourth quarter of this year. Subsequently, the solution will be integrated into Ethereum and other Ethereum Virtual Machine (EVM)-compatible public chains.
Potential Impact on Corporate Adoption
Sun is optimistic that this gas-free stablecoin solution will be a game-changer for companies considering stablecoin services. He believes that removing transaction fees can facilitate large corporations’ deployment of stablecoin services on blockchain platforms, potentially accelerating mass 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 stated.
Current Market Leadership
Tron is already a leader in the peer-to-peer stablecoin transfer market, processing two to three times the volume of Ethereum, as highlighted by blockchain analytics firm Artemis on June 27. Tron holds over $50 billion of Tether’s $112 billion value issued across multiple blockchains, according to DeFiLlama.
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Competition and Innovations
Tron’s gas-free solution is poised to compete with other platforms offering fee-free transfers. For example, PayPal’s PYUSD allows certain U.S.-based users to make cross-border payments without fees. Additionally, Circle’s USD Coin on Ethereum layer 2 Base via Coinbase Wallet offers free transfers.
This move comes after Circle and cryptocurrency exchange Binance withdrew support for USDC on Tron, possibly motivating Tron to develop its own stablecoin solution.
Tron is also exploring the development of a Bitcoin layer 2 solution to support a “wrapped” version of Tether. This potential innovation could enable billions of dollars to flow into the Bitcoin ecosystem, further enhancing its cross-chain capabilities. For now, Tron is leveraging existing cross-chain protocols to bridge USDT and other tokens between Bitcoin and Tron.
