TRON Joins Forces With Waves Via Inter-Chain Defi Oracle Gravity
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TRON’s commitment to leading the next wave of defi innovation has been bolstered by an inter-chain initiative with Waves. Gravity is the name of the interoperability solution being utilized by the two blockchain ecosystems, whose goal is to boost adoption of decentralized finance products.
TRON is written in Solidity, the same programming language as Ethereum, while Waves uses Ride. To enable the two chains to speak each other’s language, as it were, Gravity provides an oracle for querying data on each chain. It essentially builds a bridge that allows TRON assets to operate on Waves and vice-versa. With both projects committing serious muscle to defi, the partnership should prove fruitful.
Thanks to Gravity, TRC20 tokens such as TRX, BTT, and JST will be available on the Waves blockchain and tradable on Waves DEXs. In return, WAVES and native assets like USDN, NSBT, and WEST will be available on TRON and tradable on TRON DEXs. Stablecoin swaps between TRON’s USDT and Waves’ USDN will also be available. The move paves the way for hybrid dApps that combine the best elements of both ecosystems. It also gives token holders more options for moving assets around the cryptoconomy, choosing the chain that is cheaper and faster at the time.
TRON Floats Gravity As An Inter-Chain Solution
Solving the blockchain interoperability problem is a challenge that’s given the brightest minds in the space many a sleepless night. After years of chipping away at the problem, solutions are starting to emerge that overcome this dilemma, freeing assets to transcend the chain that issued them. Gravity is a blockchain agnostic oracle that can pull data from chains such as Bitcoin, Ethereum, and now TRON and Waves.
Event triggers can be set so that certain actions occurring on one chain will initiate a corresponding event on a secondary chain. For instance, locking tokens into a smart contract on one chain could unlock a corresponding representation on another chain, in a manner reminiscent of how WBTC works on Ethereum.
Oracles are big business right now, as evidenced by Chainlink’s transformation into a near-$6 billion project and a top five crypto by market cap. To date, Chainlink has been largely limited to Ethereum, however, prompting new oracle solutions to emerge that are truly blockchain agnostic.
TRON Entrusts Its Future To Defi
TRON has embraced decentralized finance, which founder Justin Sun sees as playing a major role in its development roadmap. At the heart of the new-look TRON 4.0 is JUST, a lending platform in which assets like TRX can be collateralized and used to mint USDJ stablecoins. JST, the platform’s governance token, is used for on-chain voting. In the past week it’s been listed on Huobi and Binance and in the last 30 days has increased in price by almost 10x. TRON’s latest partnership with Waves shows that it’s serious about expanding its ecosystem and placing defi products in the hands of millions of new users.