The search for solutions to 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 to some issues. As a result of this, FTX made an announcement covering 5 altcoin projects.
Ease came out of the Tron agreement with FTX 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 set up 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 subject, FTX made a series of posts on its Twitter account. FTX included the following statement in the title post “FTX Announcement on Tron credit facility”:
We are pleased to announce that we have reached an agreement with Tron to establish a dedicated 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. Meanwhile, as part of the deal, 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 amount to be deposited will depend on a number of factors, such as the withdrawal request and the funding capacity that will be provided by Tron.
Furthermore, FTX noted that by providing a specific schedule for the amount of tokens to be released and the corresponding time, it aims to enable users to make more informed decisions and bring greater clarity to the market. Finally, he mentioned the following points regarding the agreement:
As part of this agreement, we will disable Tron deposits for all users during this period. The only deposits will be pre-announced deposits made weekly by the Tron Team. Initially, $13,000,000 in assets will be distributed to facilitate such swaps.