The liquidity provider will reduce market takers or crypto whales’ influence over asset prices, lowering barriers for general market participants and reducing disruptions and slippage during trading.
Wintermute has become 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 mint and redeem USDD, the over-collateralized decentralized stablecoin powered by the TRON network.
In the capacity of market maker, Wintermute will provide liquidity for major TRX pairs across various exchanges, fostering further growth of TRON as a Layer 1 blockchain, and offer strategic guidance to help improve the TRON ecosystem.
Wintermute will provide coverage across centralized and decentralized exchanges, fostering more competitive spreads during all types of market conditions, offering insights on market conditions to help create a sustainable liquidity model.
TRON in quest for liquidity
Founded in September 2017, TRON launched its MainNet in May 2018 and grew to over 109 million total user accounts on the blockchain last month, with more than 3.7 billion total transactions, and over $13.2 billion in total value locked (TVL), according to TRONSCAN.
TRON, which is a community-governed DAO since December 2021, also hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021.
The partnership with Wintermute as a market maker follows its recent addition as a whitelisted member on the TRON DAO Reserve, gaining access to mint and redeem 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 market takers or crypto whales’ influence over asset prices, lowering barriers for general market participants and reducing disruptions and slippage 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 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.”