Financial services company Unlimit has partnered with the Tron blockchain to facilitate regular access to crypto platforms by taking advantage of low gas fees.
Thanks to the integration with Justin Sun’s network, Unlimit users can access DeFi, GameFi and NFT services without having to worry about on-chain fees.
We remind you that Tron has the largest circulating supply of USDT on its own chain, responsible for 90% of the network energy used.
Let’s see all the details below.
Unlimit announces a strategic partnership with Tron to reduce the cost of on-chain gas rates
Unlimit, a global fintech company with a broad portfolio of financial services, has partnered with Tron in a partnership aimed at lowering gas rates.
The idea behind the collaboration between the parties is to enable simplified access to DeFi, GameFi and NFT platforms in emerging markets.
Global fintech company #Unlimit has partnered with #TRON DAO aimed at improving its #payments solution and facilitating access to #DeFi, #GameFi and #NFT platforms in emerging markets. #TRX pic.twitter.com/zEK6MfmMRG
— TONiSwiss TR🅾️N (@TONiSwissTRON) December 11, 2024
Very often, these niches in the supply chain sector reflect the need for smart, economical, fast and seamless operations.
For example, to fully explore the potential of gaming on blockchain, it is essential to have high transaction throughput and low gas fees.
Imagine having to spend tens of dollars on network fees while playing Fortnite or League of Legends: it would be very frustrating and limiting for many players.
Unlimit aims to facilitate mainstream access around the world web3 world using the “Energy as a resource” service from the Tron chain.
It is a shortcut for the implementation of smart contracts that makes Tron even more economical in terms of gas costs.
Users can obtain the source “energy‘by turning off the TRX token and use it later to interact with smart contracts.
The integration allows individuals and businesses to leverage the Unlimit platform and benefit from on-chain gas fees close to $0.
We point out that Tron represents the second largest stablecoin blockchain in terms of transaction volume, with a resource capitalization of $60 billion.
It represents an important cryptographic infrastructure in several countries of Latin America, Africa, Central Asia and Southeast Asia, where there is a strong inflationary component of the respective fiat currencies.
As of November 2024, Tron will have more than 270 million active addresses, with more than 8 billion total transactions and more than $16 billion in total value locked (TVL).
Future expansion plans
The collaboration between Unlimit and Tron is not solely and exclusively based on reducing the costs of network gas rates, but also looks to the future.
The head of the on & off-ramp division at Unlimit, Bryan Feng, indicates that in this initial phase the aim is to reach as many users as possible.
In the short term, the focus is on facilitating access to Web3 platforms in rapidly developing countries such as Latin America.
Feng broadens horizons and strives for a more rooted partnership with Tron. These are his words in the press release:
“Looking to the future, we aim to become the leading on/off ramp provider for TRON, driving further adoption of TRON-based tokens and expanding our user base. We believe this partnership is an important next step in our mission to a world without borders for omnipayments and we are excited about what we will be able to achieve together.”
On the other hand, Sam Elfarra, spokesperson for the TRON DAO community, believes that this partnership can certainly bring more activity within the chain.
Tron gets an unmissable opportunity to showcase all its fascinating features to a wide audience. Below is what Elfarra reported verbatim, commenting on the news:
“This collaboration is a major step forward in demonstrating the unique benefits of building or integrating the TRON network. Additionally, users and businesses interacting with the Unlimit platform will benefit from on-chain gas fees of $0 or close to $0, all thanks to the TRON Network’s innovative resource model.”
In the coming months, Unlimit plans to explore the immense potential of offering seamless stablecoin transactions to the population of emerging markets.
Gas costs and network energy: On Tron, USDT transfers rule
Speaking of Tron and gas costs, we can’t help but mention what the costs are main use case of the chainresponsible for 90% of on-chain costs.
We are talking about USDT; the largest stablecoin in the crypto world, whose offering has been widely deployed on Justin Sun’s cryptographic network.
Do you think the blockchain currently ranks second in the world in terms of circulating supply of USDT? behind only Ethereum with just $2 billion.
From August 2022 to November 2024, Tron was the undisputed leader in this field.
Furthermore, as mentioned, USDT plays a key role within Tron.
Before the advent of the latest generation of blockchains among zk rollups, sidechains, and new powerful L1s, Tron was known for its stablecoin transfers with $1 fees.
Today it faces greater competition and continues to attract a significant number of USDT-denominated remittances.
From 2022 to today, it has increased the weekly consumption of “energy”, reflecting increasingly consistent use of the network by the public.
Parallel, USDT represents more than 90% of these efforts and is responsible for the majority of gas costs.
The remaining 7.3% of gas consumption comes from all other contracts used in Tron’s DeFi, such as JustLend, SunSwap, Just Stable, SUN, etc.
Source: https://dune.com/sliceanalytics/tron