Scroll partnering with Binance makes sense:
1. In my home country, Ghana, and many other developing nations, Tron USDT on Binance is the lifeblood of stablecoin P2P trading
2. "How did Tron pull this off?" : Around 2019, Tron struck a deal with Binance that made it the default blockchain for depositing/withdrawing USDT. Binance also facilitated Tron transactions for free in the early days.
To this day, Tron is the top USDT option in Binance UI. It even sits above Binance's own chain! Even though it costs more!!
3. "Why don't L2s try to form similar partnerships with Binance to capture that emerging market stablecoin activity?": It looks like that's what Scroll is trying to do.
Nuance:
The plan is logical, but I don't know if it will produce the same results as Tron got. I'm not a prophet lol.
I hope it works. I'd prefer for an Ethereum zkrollup to get emerging market stablecoin activity rather than Tron.
I'm biased because I've done work for Scroll as a data consultant. But I don't have insider info on the Binance collab or the token allocation strategy, so this is my honest outside perspective.
1. In my home country, Ghana, and many other developing nations, Tron USDT on Binance is the lifeblood of stablecoin P2P trading
2. "How did Tron pull this off?" : Around 2019, Tron struck a deal with Binance that made it the default blockchain for depositing/withdrawing USDT. Binance also facilitated Tron transactions for free in the early days.
To this day, Tron is the top USDT option in Binance UI. It even sits above Binance's own chain! Even though it costs more!!
3. "Why don't L2s try to form similar partnerships with Binance to capture that emerging market stablecoin activity?": It looks like that's what Scroll is trying to do.
Nuance:
The plan is logical, but I don't know if it will produce the same results as Tron got. I'm not a prophet lol.
I hope it works. I'd prefer for an Ethereum zkrollup to get emerging market stablecoin activity rather than Tron.
I'm biased because I've done work for Scroll as a data consultant. But I don't have insider info on the Binance collab or the token allocation strategy, so this is my honest outside perspective.
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