- TRON starts DeFi mining collaboration with Huobi
- Both firms have cooperated to enable mining and delegation of HT token on sun.market
- The sum of USDT in the Tron Blockchain exceeds $5 billion
Tron News Today – via his Twitter handle, Justin Sun the CEO of Tron has announced that the users of sun.market will now have an opportunity to stake and mine the HT token (TRC-20). The newly issued token will be staked and mined from on Huobi. According to the official announcement:
“Huobi Global Exchange has issued a TRC-20 of HT on Tron. SUN will initiate LP liquidity mining and HT staking on sun.io.”
Via a different publication, the TRON Foundation has given more details of the cooperation. This revealed that the “staking and mining” of the HT/TRX LP pair will start on September 23 at 14:00 Hong Kong time. The announcement further adds that mining” will last for two weeks. Here is how the TRON Foundation puts it:
“HT staking and mining and HT/TRX LP mining began on 23 September. The mining duration is 15 days.”
30,000 SUN to Be Allocated for the HT and HT/TRX Pools
On the sun.market, 30,000 SUN will be allocated for the HT and HT/TRX pools. Users will also be able to mine over 2,000 SUN daily. Hence, the TRON foundation has stated that 1,400 SUNs will be allocated for the HT pool and 600 SUNs for the HT/TRX pool. It is expected that the 30,000 SUN tokens will be mined within 15 days by users with HT tokens who have the TRC-20 standard.
The Tron Foundation has warned users with Ethereum’s HT tokens (ERC-20) not to transfer their tokens to their Tronlink wallet addresses. Finally, Sun revealed some new milestones for the Tron network. The Tron chief had a lot to say to the Tron community regarding new milestones that Tron has reached recently.
The Sum of USDT in the Tron Blockchain Exceeds $5 billion
According to Sun, the total amount of the stablecoin Tether circulating on the Tron network has exceeded the $5 billion mark. It has a supply of $50 billion in quarter two of 2020. Despite these figures, the platform’s amount of USDT remains relatively small compared to that of Ethereum. The Tron chief also said Tron has exceeded 23 million blocks.
Sun’s recent reports on Tron’s progress have been controversial, to say the least. Recall that on September 19 when reporting the total number of users on Tron, Sun reported 10 billion users (a number that doubles the total global population). Since then, the TRON Foundation and Sun have apologized. However, the crypto community has taken the report as a part of Sun’s aggressive marketing model.