By Solomon Odunayo
The CEO of Tron (TRX) collaborates with Huobi Global to celebrate the launch of TRC20-USDT with “TRC20-USDT Bonanza” promotion. This information was shared a few hours ago by Justin Sun, the CEO of Tron (TRX).
According to the information made available, the promotion will commence on 22nd October, 0:00 to 1st November 2019, 0:00 (GMT +8).
This promotion period will be in two forms. The first form will enable users that will make deposit within this promotion period to enjoy 30% APR rewards. However, this will be limited to users with a minimum of 100 TRC20-USDT in their wallets.
The second form concerns users with top TRC20-USDT net deposit. Within the promotion period, users with a minimum of 100 TRC20-USDT Net Deposits (Deposits minus Withdrawals) will be allocated for ranking, where top 20 ranked users will be. These set of users will be qualified to share 320,000 TRC20-USDT as assigned below:
Image Credit: Tron Foundation Medium Page
Going by the update shared by Justin Sun, there are terms and conditions guiding the TRC20-USDT Bonanza, which include the enablement of users to take part in both forms of the promotion concurrently.
Also, the aforementioned promotion period will last as stipulated. Users that are qualified to participate in the Bonanza are liable to track their TRC20-USDT net deposit position, ranking position, and their earned cumulative interest as from 22nd October 2019.
Howbeit, the report says there could be unforeseen delays in the course of making the previously mentioned data available every hour within the period of the promotion. In a nutshell, timely update of the aforementioned data is not 100% guaranteed.
Highlight of the Promotion and Rewarding
If a user made a deposit of 10,000 TRC20-USDT on October 23 without initiating any USDT withdrawal and trade, this implies that the interest calculation of the user will be based on the 10,000 USDT holding balance.
In another way round, if the same user goes ahead to trade 8,000 USDT of the holding balance, let’s say on October 24, the report related that the interest computation
will be based on the leftover holding balance, which is expected to be 2,000 USDT
However, all these will not affect the net deposit rankings as holding balance impacts the interest computation. Additionally, the distribution rewards will hold 2 weeks after the conclusion of the promotion.
#TRON x @HuobiGlobal: TRC20-#USDT Bonanza is ON! Deposit #TRC20– #USDT, enjoy 30% APR. Also, TOP 20 users will share 320,000 TRC20-USDT in the Net Deposit ranking competition. What are you waiting for? Like & Reweet this post to win a brand new iPhone 11📱https://t.co/iDxA99OIBC
— Justin Sun 🅣🌞 (@justinsuntron) October 21, 2019
Tron (TRX) Partners Game Studio Biscuit
In another development, Tron’s Justin Sun made another announcement of a partnership he tagged strategic, with the game studio Biscuit.
Sun stated that Biscuit’s Knight Story has clinched another avenue to soar on TRON, with the full release taking place in December 2019.
He said, “I am proud to announce TRON’s strategic investment and partnership with the game studio Biscuit. Their #1 hit, Knight Story, will reach even greater heights on TRON. Full release in December.”
Featured Image Credit: Medium