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The financial services company Unlimit is collaborating with the Tron blockchain to facilitate mainstream access to crypto platforms by leveraging low gas fees.
The integration with Justin Sun’s network will allow Unlimit users to access DeFi, GameFi, and NFT services without worrying about on-chain fees.
We remind you that Tron boasts the presence of 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 strategic partnership with Tron to lower the cost of on-chain gas fees
Unlimit, a global fintech company with a wide portfolio of financial services, is working with Tron in a partnership focused on reducing gas fees.
The idea behind the collaboration between the parties is to allow simplified access to DeFi, GameFi, and NFT platforms in emerging markets.
Global fintech company, #Unlimit collaborates with #TRON DAO aimed at enhancing its #payment solution and facilitating easier 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 on-chain sector niches reflect the need for smart, economical, rapid, and seamless operations.
For example, to fully explore the potential of gaming on blockchain, it is essential to have a high transaction throughput and low gas fees.
Imagine having to spend dozens of dollars in network fees while playing Fortnite or League of Legends: it would be highly frustrating and limiting for many players.
Unlimit seeks to facilitate mainstream access in the web3 world using the “Energy as a Resource” service of the Tron chain.
It is a shortcut for the execution of smart contracts that makes Tron even more economical in terms of gas cost.
Users can obtain the resource “energy” by staking the TRX token, and use it later to interact with smart contracts.
The integration will allow individuals and companies to leverage the Unlimit platform and benefit from on-chain gas fees close to $0.
We point out that Tron represents the second largest blockchain by transaction volume for stablecoin, with a resource capitalization of 60 billion dollars.
It represents a key cryptographic infrastructure in various countries of Latin America, Africa, Central Asia, and Southeast Asia where there is a strong inflationary component of the respective fiat currencies.
In November 2024, Tron boasts over 270 million active addresses, with more than 8 billion total transactions and over 16 billion dollars in total value locked (TVL).
Future expansion plans
The collaboration between Unlimit and Tron is not based solely and exclusively on lowering the cost of network gas fees but also looks to the future.
The head of the on & off-ramp division at Unlimit, Bryan Feng, stated in this regard that in this initial phase the goal is to reach as many users as possible.
In the short term, the focus is on facilitating access to web3 platforms in rapidly adopting countries such as Latin America.
Expanding the horizons, Feng aims for a more rooted partnership with Tron. These are his words in the press release:
“Looking to the future, we aspire to become the leading on/off ramp provider for TRON, promoting further adoption of TRON-based tokens and expanding our user base. We believe that this partnership is an important next step in our mission towards a borderless world for omnipayments and we are excited about what we will be able to achieve in unison”.
On the other hand, Sam Elfarra, spokesperson for the community for TRON DAO, believes that this partnership can definitely bring more activity within the chain.
Tron will have 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 big step forward in showcasing the unique advantages of building or integrating the TRON network. Furthermore, users and businesses interacting with the Unlimit platform will enjoy on-chain gas fees of $0 or close to $0, all thanks to the innovative resource model of the TRON network”.
In the coming months, Unlimit plans to explore the immense potential of providing seamless stablecoin transactions to the populations of emerging markets.
Gas fees and network energy: on Tron, USDT transfers reign
Speaking of Tron and gas fees, we cannot fail to mention what is the major use case of the chain, responsible for 90% of the on-chain fees.
We are talking about USDT; the largest stablecoin in the crypto world, whose supply has been deployed on a large scale on the cryptographic network owned by Justin Sun.
Do you think that currently the blockchain is second in the world for circulating supply of USDT, behind only Ethereum by just 2 billion dollars.
From August 2022 until November 2024 Tron has been the undisputed leader of this metric.
Furthermore, as mentioned, USDT plays a key role within Tron.
Before the advent of the latest generation blockchains among zk rollups, sidechains, and new high-performance L1s, Tron was famous for stablecoin transfers with fees at 1 dollar.
Today, facing greater competition, it still manages to attract a significant number of transfers denominated in USDT.
From 2022 to today, it has quintupled the weekly consumption of “energy,” reflecting an increasingly consistent use of the network by the public.
In parallel, USDT represents over 90% of these efforts, responsible for the majority of the gas fees burned.
The remaining 7.3% of gas consumption comes from all the other contracts used in Tron’s DeFi such as JustLend, SunSwap, Just Stable, SUN, etc.
Source: https://dune.com/sliceanalytics/tron
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