Ethereum is now a Wrapped Token on the Tron (TRX) Network
2 min read
Quick take:
- Justin Sun announced the launch of wrapped Ethereum on the Tron Network
- The token goes by the ticker of ETHTRON
- The Wrapped Ethereum injects ETH’s value on the Tron network
- It is available on Poloniex and redeemable on a 1:1 ratio with actual Ethereum
The digital asset of Ethereum is now available on the Tron (TRX) Network. The project’s founder and CEO, Justin Sun, made the announcement on the availability of Wrapped ETH on the Tron Network and added that it will be available on Poloniex.
According to Mr. Sun, the token (known as ETHTRON) will bring Ethereum’s value to the Tron Network. He also requested other crypto exchanges to contact him if they wanted to support the token.
ETH on TRON!@Poloniex is the first to support it.
ETHTRON is a TRC20 token based on TRON which injects Ethereum’s value to the TRON network. Its advantages lie in reliability& efficiency. Easy conversion of Ethereum into TRC20 assets with guaranteed acceptance.
If any exchanges want to support ETH on TRON, let me know!
The move to tokenize Ethereum on the Tron comes only months after a Wrapped version of Bitcoin was launched on the TRX network. As with BTCTRON, the ETHTRON token is redeemable on Poloniex on a 1:1 ratio with the digital asset it represents.
At the time of writing, ETHTRON has been transacted 1,931 times and has a total supply of 10,000 as seen in the following screenshot courtesy of TronScan.org.
Wrapped Ethereum 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.
Additionally, with ETHTRON, the value of ETH can now be transacted on the Tron network. The latter network is more efficient when compared to the current Ethereum network.
