Justin Sun: TRON Working With Binance To Build A Cheap, Fast And Secure Network

Key Points:

We are working closely with #Binance and actively exploring solutions that would reduce withdrawal fees of #TRON stablecoins and tokens on the exchange.

We remain committed to making crypto trading more affordable for everyone.

— H.E. Justin Sun?????₮ (@justinsuntron) February 11, 2023

Yesterday, the official blog of Binance also announced the adjustment of withdrawal fees on the TRON network to change the energy recovery mechanism for the blockchain smart contract.

Accordingly, Proposal 83 discusses a dynamic energy model that increases the fees of transactions related to illiquid projects and does not affect other decentralized applications (dApps).

The new withdrawal fee is almost double compared to the previous one. Specifically, the withdrawal fee for USDT – USDC – TUSD has been increased from 1 to 2.6 USD. The BUSD withdrawal fee is particularly adjusted to BUSD 2.2 from BUSD 0.8. Similarly, to withdraw TRX, users must pay 15 TRX instead of 1 TRX.

Fees are one of the top concerns for traders. Therefore, it can be seen that every transaction fee after the adjustment has a significant increase. This can have a direct impact on the network’s transaction volume.

Therefore, Justin Sun’s actions make users hope for an ideal fee.

Another role of Justin Sun is Huobi’s global advisor. The exchange also recently attracted a lot of community attention when it announced the listing of the FUD token on February 5. This is the token of the DebtDAO project, an unfamiliar project that was introduced to issue debt of users of FTX as FUD tokens on behalf of FTX creditors.

FUD is a token representing the amount that FTX owes DebtDAO. The project claims that FTX owes tens of millions of dollars but does not disclose specifics or provide evidence.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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