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- Wintermute, a leading global algorithmic market maker for digital assets, is now the official market maker for Tron.
- It will also be a strategic partner for the entire TRON ecosystem, providing insights into market conditions to help create a sustainable liquidity model and more.
According to the official announcement, Wintermute will provide cross-exchange liquidity for TRONDAO’s native token “TRX” and promote competitive spreads in all types of market conditions. It will also act as a strategic partner for the entire TRON ecosystem, including providing insights into market conditions to help create a sustainable liquidity model, and more.
#TRON is pleased to announce that @wintermute_t is now the official market maker for $TRX! 🚀
Together we are building a more decentralized web. 🌐 🤝 #sTRONgerTogether
Check out @Cointelegraph’s full article below. 👇https://t.co/GD1ZLBPQV1 pic.twitter.com/gk8FLjLyET
— TRON DAO (@trondao) September 12, 2022
Market makers are companies that are willing to buy or sell securities. They offer current prices at which they are willing to buy or sell specific amounts of a cryptocurrency to ensure quick execution of trades and better liquidity for contracting parties. Although these companies have been major players in traditional securities markets, their role in cryptocurrencies has increased in recent years.
Although Wintermute is a fairly new entrant to the market, it has grown into one of the leading market makers for all things OTC, allowing institutions and individuals to trade cryptocurrencies of any size at the most competitive prices. By connecting directly to Wintermute, TRON users can execute transactions at the best prices from over 60 liquidity pools. Users are also protected from market participants or cryptocurrency influence on asset prices, resulting in a more decentralized ecosystem that allows for greater user autonomy.
“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 to make markets more liquid,” said David Micley, Director of Business Development at Wintermute . “We are very excited about the opportunity to contribute to the TRON ecosystem as a liquidity provider.”
Earlier this month, Wintermute joined the TRON DAO Reserve after being granted authority to mint and redeem USDD, TRON’s algorithmic stablecoin. Since launching in 2018, the TRON network has continued to grow its wings with the onboarding of nearly 600 DApps and over 100 million monthly active users.
As of September 13, 2022, the network has over 11 million total user accounts, over $3.8 billion in total transactions, and over $12.37 billion locked (TVL), as seen on TRONSCAN.
Additionally, TRON has the largest circulating supply of USD Tether (USDT) stablecoin at $33.1 billion. In December 2021, the Tron network became fully decentralized after launching a community-managed DAO. Recently, the DAO launched the now “overcollateralized stablecoin” USDD stablecoin, marking TRON’s official entry into decentralized stablecoins.
Partnering with Wintermute is therefore a strategic move that could help TRONDAO grow its user base by providing seamless liquidity and strengthen its authority as a global leader in the De-Fi and DApp ecosystem.
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