Justin Sun Confirms Development Of Gas-Free Stablecoin Solution

Tron is working on bringing a new level of convenience to crypto enthusiasts who perform stablecoin transfers. The Layer 1 network is innovating in this regard to extend its leadership in the stablecoin arena.

No Gas Fee For Stablecoin Transfers 

Tron founder Justin Sun stated on X that his team is currently working on a new solution that will facilitate the transfer of stablecoins at no additional cost.

Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 6, 2024

Ultimately, this means that no gas fee will be required for such transactions. Instead, the fees will be covered entirely by the stablecoin themselves. Initially, the solution will be made available on the Tron Network. Thereafter, it will be extended to Ethereum and all Ethereum Virtual Machine (EVM)-compatible public chains.

According to Sun, Tron’s plan is to launch the innovative solution by the fourth quarter of this year. He suggested that the presence of similar services will greatly facilitate large companies in deploying stablecoin services on the blockchain. This will in turn elevate blockchain mainstream adoption to a new level.  Tron community members are excited about the upcoming solution. One X user described the new solution as a game changer, noting that it would revolutionize the broader crypto landscape.

Similarly, Uniswap founder Hayden Adam released a semi-cryptic statement that suggested a push to eradicate fees. In his X post, he said no user should hear of the term “gas fee”. This statement reflected Uniswap’s displeasure with gas fees and their impact on user experience.

Plus, this gas fee which is usually incurred for conducting transactions on the Ethereum blockchain, has seen a huge recent surge due to hike in congestion. No wonder the excitement expressed by crypto enthusiasts following Sun’s announcement.

Tron’s Resilience And German Government’s Bitcoin Sales

In other Tron news, the network has seen its user base increase significantly since the beginning of this year. Ben Sizelove, an analyst at CryptoQuant, highlighted how Tron has maintained resilience near all-time high (ATH) levels. This is crucial as it coincides with the period of market uncertainty and selling pressure that is currently hitting the broader crypto market.

Meanwhile, Sun has offered to buy off the Bitcoin that the German government is offloading into the ecosystem. He stated that he is open to negotiations with the German government to take all of their Bitcoin holdings off-market. This proposal from Sun aims to minimize the market disruptions that could arise from further sale of BTC by the German government.

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