Stablecoins have become a big part of the cryptocurrency industry. It seems likely to assume that more of these pegged assets will make their way to the markets soon.
In fact, one such asset may be issued by TRON creator Justin Sun.
Decentralized Stablecoins Remain Intriguing
In a recent Tweet, he hints at creating a decentralized stablecoin.
— Justin Sun (@justinsuntron) January 16, 2020
Unlike other stablecoins, this one will be backed by both TRX and BTT tokens.
While that would help create a decentralized offering, neither of the backing assets are stable by any means.
As such, one has to wonder how this asset will try to maintain any value at all.
It may turn out to be even more volatile than bitcoin itself.
The true purpose of stablecoins is to provide price stability and access to other crypto assets.
It is a bit unclear how this new TRON-based currency will fare in this regard.
Assuming there is any truth to this claim, the new asset will be a competitor to the TRC-20 version of Tether’s USDT.
Furthermore, one has to wonder where this new stablecoin will be traded.
One logical option is Poloniex, as that has recently received some funding from Justin Sun.
The exchange is also expected to become an extension of the current TRON ecosystem.
The future certainly looks interesting for the stablecoin industry as a whole.