The search for solutions regarding the events around FTX, which has put the crypto money market into a crisis, continues. FTX held talks with Tron (TRX) today to develop solutions for some issues. As a result of this, FTX made an announcement covering 5 altcoin projects.
Ease came out of the FTX and Tron agreement for these 5 altcoins
There has been a new development in FTX, which is closely followed by the crypto market. Accordingly, the FTX exchange has entered into an agreement with Tron to establish a dedicated facility to allow TRX, BTT, JST, SUN and HT holders to exchange their holdings with external wallets on a 1:1 basis. Regarding the issue, FTX made a series of posts on its Twitter account. FTX included the following statement in the title post “FTX Announcement of Tron credit facility”:
We are pleased to announce that we have reached an agreement with Tron to establish a special facility that will allow TRX, BTT, JST, SUN and HT holders to exchange their holdings from FTX 1:1 to external wallets.
What are the details of the deal?
According to FTX’s statement, it will activate the mentioned function at 18:30 UTC. This scope will determine the size of the facility on a weekly basis. In the middle, as part of the treaty, Tron deposits will be disabled for all users. FTX also included the following details in the announcement:
The exact capacity of the Tron Token facility will be determined weekly. Also, future injections will take place at 14:00 UTC. The measure to be deposited will depend on a number of factors, including the withdrawal request and the funding capacity that will be provided by Tron.
Furthermore, FTX noted that by providing a reasonable schedule of the token size and corresponding time to be released, it aims to enable users to make more conscious decisions and bring greater clarity to the market. Finally, he talked about the following issues pertaining to the agreement:
As a module of this settlement, we will disable Tron deposit processes for all users during this period. The only deposit process will be the previously announced deposit processes performed weekly by the Tron Team. Initially, $13,000,000 in assets will be distributed to facilitate such swaps.