Tron recently introduced a Tether based stable coin on its own blockchain and was planning a reward programme so that more people would buy the new Tether on Tron blockchain. But due to the recent Tether fiasco, Tron has postponed the Reward incentivization plan.
Initially, the reward was postponed to May 7th, but due to the escalation of the Tether issue, Tron has decided to further postpone it. No new date has been given. The news was announced by Tron’s founder Justin Sun on Twitter.
I’ve decided to postpone our #USDT rewards program for future updates until there’s more clarity regarding @bitfinex and @Tether_to. Regardless, I firmly believe stablecoins will continue to play a big role in the blockchain space. $TRX #TRX #BTT $BTT https://t.co/xpe1eA2URK
— Justin Sun (@justinsuntron) May 1, 2019
The $20 Million Reward
On the mid of April, Tron had announced the new Tether tokens on the Tron blockchain. With the announcement, Tron had also announced a $20 million reward for the early adopters of the new Tron token. The reward process simply required investors to exchange their regular Tether tokens for the TRON-based version.
Only Rewards are Being Affected
Only the reward programme is being affected. Users can still go and convert their Omni layer Tether token to the new Tron based tokens version.
The community suspects a small fowl play from Tron, as many of the early adopters feel cheated by not getting any rewards.
This was well known before Tether made the announcement of the TRC20 USDT.
Stop this virtue signalling only when convenient. Something CZ is guilty of, also.
— Johnny Nashbro (@Johnny_Nashbro) May 1, 2019
— Sporting Crypto (@SportingInsigh1) May 1, 2019
Did you like the news you just read? Please leave a feedback to help us serve you better