Here’s why that’s a big deal for Wanchain and for you.
Tether USDT Volume By Chain
is currently available in its native, unwrapped form on 14 different blockchains. And for all of 2022, 2 chains dominate the new issue volume. Those chains are:
- Ethereum and
We know many of you are not surprised to hear that Ethereum’s ERC-20 token version of USDT is one of the top chains to buy and trade USDT. But what many people don’t know is that the #1 chain now by more than $2 billion dollars and now more than 50% of total USDT volume is Tron.
Here are the most recent numbers and you see a net $33 billion issued on Tron.
The Announcement Integrating Tron
Big news! XFlows is now live on the #TronNetwork
Move your @Tether_to seamlessly between @trondao
https://t.co/PMVJisfnyHhttps://t.co/bSVDcj0bnLpic.twitter.com/abqRQOf9RA
— Wanchain (@wanchain_org) December 22, 2022
So you see based on the volume that there is more Tether on Tron than anywhere else. Now, let’s see how XFlows comes in. Most of the time when you bridge to another chain, you get a chain-specific version of that token. That means if you want to sell it you will have to bridge back for the native token and sell it there. BTC.b is a good example. It’s the BNB Beacon Chain (BEP-2) version of Bitcoin. While you have some options to sell on the BNB Chain, you have many more options with native Bitcoin that you can sell anywhere. Chain-specific versions have limitations the native coin doesn’t.
The great thing about XFlows is that it’s all USDT and it’s native to native. So when you bridge from Avalanche to Polygon with XFlows, you are sending native USDT on the Avalanche side and (more importantly) receiving native USDT on the Polygon side to use however you wish. This is a huge advance in bridging. It means you don’t have to worry about bridging back to use or sell it and you still have the full native token capability to do with as you please.
Wanchain wants to let you bridge native USDT for native USDT anywhere. And that can’t happen if they are not bridging to and from the #1 network, Tron. So now they are.
How to Do a Cross-Chain Transaction on Tron
wrote a post on how to do this since many of us, especially if not in Asia, don’t use the Tron Network very often. The article demonstrates how to bridge using Wanchain’s Web Portal. With it, you use METAMASK and Tron’s most popular network wallet, TronLink. With the right wallets, Wanchain does all the work and makes moving to or from the Tron Network easy. You can connect to the Portal right from Metamask or any other WalletConnect compatible wallet.
The addition of the Tron Network for bridging and the XFlows program means more people will be able to bridge their native USDT across all the most popular networks. This is going to help us get to full interoperability sooner.
