The liquidity provider will reduce the influence of market makers or crypto-whales on asset prices, lower barriers for general market participants and reduce disruptions and slippages during trading.
Wintermute became the official market maker for TRX and a strategic partner of the entire TRON ecosystem only days after joining the TRON DAO reserve, where it gained access to coin and redeem USDD, the over-collateralized decentralized stablecoin provided by the TRON network powered.
In the capacity of market maker, Wintermute will provide liquidity for major TRX pairs across multiple exchanges, promoting further growth of TRON as a Layer 1 blockchain, and provide strategic guidance to help improve the TRON ecosystem.
Wintermute will provide coverage across centralized and decentralized exchanges, promoting more competitive spreads during all types of market conditions, and provide insights into market conditions to help create a sustainable liquidity model.
TRON looking for liquidity
Founded in September 2017, TRON launched its MainNet in May 2018 and last month grew to more than 109 million total user accounts on the blockchain, with more than 3.7 billion total transactions, and more than $13.2 billion in total value closed (TVL), according to TRONSCAN .
A community-controlled DAO since December 2021, TRON also hosts the largest circulating supply of USD Tether (USDT) stablecoins worldwide, surpassing USDT on Ethereum since April 2021.
The partnership with Wintermute as a market maker follows its recent addition as a whitelist member on the TRON DAO reserve, accessing coin and redeeming USDD. The TRON DAO Reserve said that onboarding a crypto giant like Wintermute helps support the global blockchain industry, prevent panic trading caused by extreme market volatility and mitigate long-term economic downturns.
Wintermute is a global market maker within the digital asset space that has helped a multitude of high profile projects. The liquidity provider will reduce the influence of market makers or crypto-whales on asset prices, lower barriers for general market participants and reduce disruptions and slippages during trading.
Founded in 2017, Wintermute is a crypto-native market maker focused on creating liquid, transparent markets through hundreds of proprietary trading algorithms across DeFi, CeFi and OTC markets.
David Micley, Director of Business Development at Wintermute, said: “This latest partnership between Wintermute and TRON is an extension of our efforts to partner with leading DeFi projects and provide our support through what we do best – to markets to make more liquid. We are delighted at the opportunity to contribute to the TRON ecosystem as a liquidity provider.”