Geneva, Switzerland, 12th September, 2022, Chainwire
TRON is thrilled to announce that Wintermute is now the official market maker for TRX and a strategic partner of the entire TRON ecosystem. In this capacity, Wintermute will provide liquidity for major TRX pairs across various exchanges, boosting greater accessibility to the TRX token. This strong alliance will foster further growth of TRON as the go-to global L1 blockchain.
“This latest partnership between Wintermute and TRON is an extension of our efforts to partner with leading DeFi projects and offer our support through what we do best – making markets more liquid,” said David Micley, Director of Business Development at Wintermute. “We’re thrilled for the opportunity to contribute to the TRON ecosystem as a liquidity provider.”
Earlier this month, Wintermute became the latest whitelisted member to join the TRON DAO Reserve, gaining access to mint and redeem USDD, the over-collateralized decentralized stablecoin powered by the TRON network. Wintermute provides liquidity for digital assets and as a leading global market maker has helped a multitude of high-profile projects. Wintermute has a selective approval process before it begins partnering with a particular digital asset. Accordingly, Wintermute has a track record of working with the most prominent projects, which is further strengthened by its partnership with TRON and USDD.
Other market making initiatives that Wintermute will provide for TRON’s native utility token, TRX, include: providing coverage across centralized and decentralized exchanges, fostering more competitive spreads during all types of market conditions, offering insights on market conditions to help create a sustainable liquidity model, and more. Wintermute will also provide strategic guidance to help better the TRON ecosystem.
Every major project in the Web3 space needs a reliable and innovative market maker. Wintermute aims to drive a tailored model, using the initiatives mentioned above, to reduce market takers or crypto whales’ influence over asset prices. Such an approach leads to a more decentralized ecosystem that allows for greater user autonomy. Wintermute is lowering barriers for general market participants by providing liquidity on major exchanges, which in turn reduces disruptions and slippage during trading.
TRON is proud to strategically partner with Wintermute and looks forward to continuing to work towards their shared goal to decentralize the web.
About TRON DAO
TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of August 2022, it has over 109 million total user accounts on the blockchain, more than 3.7 billion total transactions, and over $13.2 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.
- Feroz Lakhani
- [email protected]
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.