As a result of a series of announcements, Tron will partner with two notable organizations, Wintermute and Creditcoin, to further its mission to expand its ecosystem.
Tron, the blockchain network founded in 2017 by Justin Sun, is a platform designed for the deployment of smart contracts and decentralized applications with a PoS consensus algorithm. Wintermute is an algorithmic market maker, while Creditcoin is a layer one blockchain used to match and record credit transactions.
Tron x Wintermute
Wintermute is now the official TRX market maker and strategic partner of the entire TRON ecosystem. Just days after having joined the TRON DAO Reserve, it got access to redeem and mint USDD, the over-collateralized decentralized stablecoin powered by the TRON network.
Market makers play an important role in the world of finance, including decentralized finance. They contribute to the liquidity of trading pairs by acting as buyers and sellers on both sides of a trade.
Wintermute will also provide liquidity for major TRX pairs throughout various cryptocurrency exchanges, improving ease of access.
David Micley, the director of business development at Wintermute, states that “This latest partnership between Wintermute and Tron is an extension of our efforts to partner with leading DeFi projects and offer our support through what we do best: making markets more liquid. We’re thrilled for the opportunity to contribute to the Tron ecosystem as a liquidity provider.”
According to CoinDesk, the decision by the Tron blockchain network to brand Wintermute as the official market maker for its decentralized finance (DeFi) ecosystem is likely to boost trading volumes in a network that is already growing faster than competitors.
Before partnering with a specific digital asset, Wintermute goes through a rigorous approval process. As a result, Wintermute has a history of collaborating with the most prominent projects, which is bolstered by its cooperation with Tron and USDD.
Tron x Creditcoin
Creditcoin is an “Open-Fi,” permissionless public blockchain ledger-based public credit bureau that enables counterparty trust in markets by securing loan transactions, terms, and credit performance.
The partnership will bring Tron support for Open-Fi projects like Gluwa Wallet, which will support certain TRC-20 stablecoins and a new GatewayDAO bridge onto Creditcoin’s Open-Fi ecosystem.
On the partnership announcement, Tate Oh, Creditcoin founder, stated, “We’re very excited to be bringing such a popular and highly reputed network into the Creditcoin Ecosystem. This partnership will help push the scalability of #OpenFi, with TRC20 stablecoins affording our users the ability to benefit from incredibly low-cost and energy-efficient transactions. We look forward to working together on our mission to deliver a multi-chain Web3 future.”