Geneva, Switzerland, September 12, 2022, Chainwire
TRON is delighted to announce that Winter Mute is now the official market maker of TRX and a strategic partner of the entire TRON ecosystem. As such, Wintermute will provide liquidity to major TRX pairs on various exchanges, improving accessibility to the TRX token. This strong alliance will drive TRON’s growth 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 business development at Wintermute. “We are excited to have the opportunity to contribute to the TRON ecosystem as a liquidity provider.”
Earlier this month, Wintermute became the latest whitelist to join the TRON DAO Reserveaccess the mint and redeem USDD, the over-collateralized decentralized stablecoin powered by the TRON network. Wintermute provides liquidity for digital assets and, as the world’s leading market maker, has aided a multitude of high-profile projects. Wintermute has a selective approval process before starting to partner with a particular digital asset. As a result, Wintermute has a track record of working with the most important projects, which is further enhanced by its partnership with TRON and USDD.
Other market-building initiatives that Wintermute will provide for TRON’s native utility token, TRX, include: covering centralized and decentralized exchanges, promoting more competitive spreads in all types of market conditions, providing insight into market conditions to help create a sustainable liquidity model, and more. Wintermute will also provide strategic advice to help improve the TRON ecosystem.
Every major project in the Web3 space needs a reliable and innovative market maker. Wintermute aims to pilot a bespoke model, using the initiatives mentioned above, to reduce the influence of market takers or crypto whales on asset prices. Such an approach leads to a more decentralized ecosystem that allows greater user autonomy. Wintermute lowers barriers for general market participants by providing liquidity on major exchanges, which in turn reduces disruption and slippage during trading.
TRON is proud to strategically partner with Wintermute and looks forward to continuing to work towards their shared goal of decentralizing the web.
About TRON DAO
TRON is dedicated to accelerating the decentralization of the Internet through blockchain technology and decentralized applications (dApps). Created in September 2017 by HE Justin Sunthe TRON network has continued to deliver impressive achievements since the launch of MainNet in May 2018. July 2018 also marked the integration of the ecosystem of BitTorrent, a pioneer of decentralized Web3 services with over 100 million monthly active users. The TRON Network has gained incredible traction in recent years. As of August 2022, it had over 109 million total user accounts on the blockchain, over 3.7 billion total transactions, and over $13.2 billion in total value locked (TVL), as shown on TRONCAN. Additionally, TRON hosts the largest circulating supply of USD attachment (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed its full decentralization in December 2021 and is now a community-governed DAO. More recently, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto pool for the blockchain industry – TRON DAO Reservemarking the official entry of TRON into decentralized stablecoins.
- Feroz Lakhani
- [email protected]