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Aug 29, 03:01 PM
Tron Cuts Network Fees 60% to Defend Stablecoin Transfer Lead
DeFi
Blockchains
Crypto

Tron Cuts Network Fees 60% to Defend Stablecoin Transfer Lead

Authors
  • Forbes
  • Cointelegraph
  • Wu Blockchain
5

The community governing the Tron blockchain has approved the network’s steepest fee cut since its 2018 launch, voting to reduce transaction charges by 60%. Founder Justin Sun said the change takes effect at 20:00 GMT+8 on 29 August and will be reassessed every quarter by the network’s Super Representatives. The lower tariff is expected to trim Tron's fee revenue by about $28 million, based on DeFiLlama estimates that put current income at roughly $47.7 million a month. Sun argues the short-term hit will be offset by greater activity on a network that already handles 8-9 million transactions a day and carries around $81 billion of Tether’s USDT stablecoin. By cutting costs for users, Tron aims to maintain its dominance in low-value stablecoin transfers as rival blockchains, including Bitfinex’s forthcoming Plasma network, court the same market.

Written with ChatGPT .

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