- Justin Sun announced the launch of Ethereum wrapped on the Tron network
- The token goes to the ETHTRON ticker
- The Wrapped Ethereum injects the value of ETH onto the Tron network
- It is available on Poloniex and redeemable at a 1: 1 ratio with actual Ethereum
The Ethereum digital asset is now available on the TRON (TRX) network. Project founder and CEO Justin Sun announced the availability of Wrapped ETH on Tron Network and added that it will be available on Poloniex.
According to Mr. Sun, the token (known as ETHTRON) will carry the value of Ethereum to the Tron network. He also requested other cryptocurrency exchanges to contact him if they wanted to support the token.
ETH above TRON!@Poloniex is the first to support it.
ETHTRON is a TRON-based TRC20 token that injects Ethereumvalue for the TRON network. Its advantages lie in its reliability and efficiency. Easy conversion of Ethereum to TRC20 goods with guaranteed acceptance.
If any exchange wants to support ETH above TRON, let me know!
The move to tokenize Ethereum on Tron comes just months after a Wrapped version of Bitcoin was launched on the TRX network. As with BTCTRON, the ETHTRON token is redeemable on Poloniex in a 1: 1 ratio with the digital asset it represents.
At the time of writing, ETHTRON has been traded 1,931 times and has a total supply of 10,000, as shown in the following screenshot courtesy of TronScan.org.
Ethereum wrapped on Tron will be beneficial to the TRX DeFi ecosystem
The availability of both Bitcoin and Ethereum will certainly benefit the DeFi ecosystem on the Tron network. This means yield farmers can now have access to the value of ETH on the various Tron DeFi platforms.
Furthermore, with ETHTRON, the value of ETH can now be traded on the Tron network. The latter network is more efficient than the current Ethereum network.