TRON, one of the most popular blockchains in the world, enters a strategic partnership with Waves.
Together, Waves and TRON are using Gravity to connect their respective blockchains’ smart contract languages: Ride and Solidity. Gravity is a blockchain and token-agnostic oracle with a cross-chain communication network. TRON and Waves are establishing a bridge through Gravity which will allow both ecosystems to enhance access to services for two userbases.
Read More: Bank Of The Future: How Banks And Fintechs Are This Decade’s Unlikely Duo
One barrier to the mass adoption of cryptocurrency is the fragmentation of blockchain ecosystems. The lack of inter-chain communication between different products and services inhibits positive network effects. TRON and Waves aim to provide user-friendly integrations so that communicating becomes easier for everyone across each network. With seamless inter-chain connectivity, network effects such as Decentralized Finance (DeFi) may lead to growth for all blockchains involved.
DeFi revolutionizes the way people and companies manage capital and assets. DeFi started as a field that dealt only with cryptocurrency-collateralized loans, staking, and algorithmic stablecoins. Today, DeFi is developing into a full-fledged infrastructure for capital management, including non-cryptocurrency capital (such as tokenized Forex and Stocks).
“We are enhancing the future of decentralized finance with Waves,” said Justin Sun, Founder of TRON and CEO of BitTorrent. “We are syncing TRON’s high-throughput, scalable blockchain ecosystem with best-in-class partners to explore real-world use cases for our community. Working with Waves means speeding up blockchain mass adoption through agile service development.”
Read More: New Search Fund Model of Private Equity for Small Business Acquisitions
To achieve deeper inter-chain connectivity, TRON and Waves will cooperate on the following collaboration and integration mechanisms:
$TRX, $BTT, $JST and other TRC-20 tokens such as $TRON-USDT will be available on the Waves blockchain via seamless decentralized gateways (Gravity swap) and automatically listed on Waves’ DEXes (like waves.exchange), meaning that users and developers from the Waves ecosystem will be able to trade, hold and use TRC-20 tokens.
Conversely, $WAVES, $USDN, $NSBT, $WEST and other tokens of the Waves ecosystem will be available on the TRON blockchain via Gravity and automatically listed on TRON’s DEXes and DeFi services (like TronTrade or PoloniDex), meaning that users and developers from the TRON ecosystem will be able to trade, hold, and use Waves-based tokens.
TRON and Waves’ decentralized application (dApp) developers will be able to use data feed services of Gravity oracles.
Seamless $TRON-USDT <-> $USDN swaps services will be introduced. Such applications will allow users to manage various strategies for holding stablecoins, including $USDT on the TRON blockchain as the fastest and cheapest way to transfer stablecoins and $USDN as a staking stablecoin.
Developers from both ecosystems will be able to create modern cross-chain dApps which will work in both chains (capable of being expanded to other chains via Gravity) via wallets and browser extensions preferred by users.
TRON has taken major steps to build the necessary infrastructure for DeFi to thrive, with close to $4 billion USDT now issued on TRON’s blockchain. The scope of cooperation between Waves and TRON is not limited to the above list of integrations, where research and prototyping are currently in progress. The coalescence of TRON and Waves’ ecosystems exemplifies the bright future of the inter-chain DeFi industry.
