US-based cryptocurrency exchange Poloniex is set to support Tether’s stablecoin USDT on the Tron (TRX) blockchain.
It says that it will support deposits and withdrawals of USDT on the TRON network and credit the airdrop to eligible customers holding Tether.
“Customers will be able to withdraw USDT freely to their preferred network – either Omni or TRON. USDT markets on Poloniex will be unaffected,” it said in a statement.
“To support both versions, Poloniex will be converting a percentage of Tether currently on the Omni network to Tether on the TRON network. The amount of USDT we receive in the airdrop will be based on the amount we convert. Once the airdrop begins, Poloniex customers will be credited based on the amount of Tether they hold on Poloniex. The airdrop is scheduled to begin on 30th April and more details will be provided next week,” it added.
Poloniex is supporting this new chain because it is an upgrade to the USDT platform and gives customers added flexibility. “This is one of multiple initiatives being taken to make Poloniex the best possible exchange for crypto traders and enthusiasts around the world,” the statement concludes.