What is USDT-TRON?


USDT is a cryptocurrency issued by Tether, previously compatible with OMNI layer. Tether and Tron announced a collaboration to list a USDT compatible with the TRC-20 standard in April 2019. To rapidly promote the conversion of USDT to TRC-20, Tron is airdropping approximately 20M USD worth of USDT-Tron in the form of daily interest to holders of USDT-Tron (full campaign detail from Tron is here). 



How is Poloniex participating in this promotion?


Poloniex will support deposits and withdrawals of USDT on the Tron network and credit the airdrop to eligible customers holding USDT. With this addition, we will support USDT issued on both Omni protocol and Tron network. Just as you can deposit from either network, you will be able to withdraw USDT freely to your preferred network – either Omni or Tron. USDT markets on Poloniex are unaffected. 



How does the airdrop work?


To support both versions, Poloniex will be converting a percentage of USDT currently on the Omni layer to USDT on the Tron network. The amount of USDT we receive in the airdrop will be based on the amount converted by Poloniex. Once the airdrop promotion begins, Poloniex accounts will be credited based on the amount of USDT held in the Poloniex account, captured by Poloniex snapshots. For 100 days (start date is to be determined), Poloniex will be taking snapshots of the accounts every 6 hours. For each of the snapshots, Poloniex will make calculations on how much USDT is held by the individual account, compared to the total USDT balance held by users on Poloniex. Calculation is based off of the Tron APR schedule as shown here, and the sum of the 4 calculations in the rolling 24 hour period is scheduled to be airdropped into the account once a day, within 3 hours of TRON’s airdrop schedule.


Poloniex’s Airdrop/Snapshot Schedule (rolling 24 hours):

  • 1st Snapshot: 22:00 UTC (18 hours prior to TRON’s scheduled snapshot)
  • 2nd Snapshot: 04:00 UTC (12 hours prior to TRON’s scheduled snapshot)
  • 3rd Snapshot: 10:00 UTC (6 hours prior to TRON’s scheduled snapshot)
  • 4th Snapshot: 16:00 UTC (TRON’s scheduled snapshot)
  • Scheduled Airdrop into accounts: 19:00 UTC (3 hours after TRON’s scheduled snapshot)

At this time, exact date for the Tron airdrop and Poloniex snapshot is to be determined.



How to deposit USDT-TRON or USDT-OMNI


1. Log into your Poloniex account and navigate to the Poloniex deposit and withdrawal screen. For your safety, always confirm that you are securely logged into Poloniex by reviewing the URL:



 

2. Upon arrival, locate USDT and click, Deposit. You will then be prompted to select a deposit protocol:

 



3. If you select Deposit on Omni, you will be able to select an Omni deposit address:




4. If you select Deposit on Tron, you will be able to select a Tron deposit address:




5. Use the according generated address to send the coin to your Poloniex USDT wallet. 


Please note that only your USDT coins from the Omni layer is only compatible with your USDT-Omni address, and USDT from the Tron network is only compatible with your USDT-Tron address. Sending your USDT coins to the incompatible address may result in the loss of your deposit. 



How to withdraw USDT-TRON or USDT-OMNI


1. Log into your Poloniex account and navigate to the Poloniex deposit and withdrawal screen. For your safety, always confirm that you are securely logged into Poloniex by reviewing the URL:

 

 

 

2. Upon arrival, locate USDT and click Withdraw. You will then be prompted to enter a receiving deposit address:

 



3. If you enter an USDT-Omni address, our system will automatically detect that it is going to an Omni layer deposit address and charge the Omni network fee of 10 USDT:




4. If you enter an USDT-Tron address, our system will automatically pick up that it is going to an Tron network deposit address and charge the Tron network fee of 0.01 USDT:



Please note that only your USDT-Omni coin is only compatible with an Omni layer address, and your USDT-Tron is only compatible with your Tron network address. Sending your USDT coins to the incompatible address may result in the loss of your withdrawal.



Frequently Asked Questions


What if I deposit USDT-Tron to my USDT-Omni address (and vice versa)?

Your USDT coins from the Omni layer is only compatible with your USDT-Omni address, and USDT from the Tron network is only compatible with your USDT-Tron address. Sending your USDT coins to the incompatible address may result in the loss of your deposit. 


What if I withdraw my USDT-Tron to my USDT-Omni address (and vice versa)?

Our system is able to identify the different types of address and will prevent one type of coin being deposited into the wrong type of address.


Can I deposit Tron to my USDT-Tron wallet? 

No, USDT-Tron wallets are only compatible with USDT-Tron, and not with any other coin. 


Can I trade my USDT-Tron for Tron on Poloniex?

No, there is no distinction of USDT-Tron or USDT-Omni when trading on Poloniex. Both networks will be traded under the ticker USDT and name Tether USD. Since TRON is not currently listed, you are unable to trade USDT for Tron, or vice versa, on Poloniex.


Once I deposit USDT-Tron or USDT-Omni on Poloniex, can I pick which one to trade? 

No, once you have deposited your USDT from either chains, it will be traded simply as USDT. However, you are able to designate your USDT to be either USDT-Tron or USDT-Omni when you make a withdrawal. 


What are the airdrop eligibility?

Your account must be verified to Tier 3 and in good standing, and you must hold at least 1 USDT in your Poloniex account. 


How do I participate in the airdrop?

You must hold at least 1 USDT in your Poloniex account during the promotion period.  


What if I don’t want USDT-Tron and want to continue using USDT-Omni?

You are able to deposit and withdraw your USDT-Omni as you desire. On the exchange, your USDT from either chain will be traded as USDT and you will receive the airdrop if you hold a balance of USDT on Poloniex during the promotion period.


Will I get more airdrop if I deposit more USDT-Tron than USDT-Omni?

No, your airdrop will be based on the amount of USDT you hold in your Poloniex account during the snapshot; it is not based on how much USDT-TRON has been deposited. Managing the swaps is on the exchange level, not on individual account level. 


Will Poloniex be supporting USDT-Omni from here on?

Yes, Poloniex will still be supporting USDT-Omni deposits and withdrawals. If this changes in the future, we will make sure to notify you. 


Will Poloniex be supporting USDT-ERC20?

At this time, Poloniex does not support USDT-ERC20. If this changes in the future, we will make sure to notify you. 


What about my existing USDT?

If you previously had USDT held in your Poloniex account, this will remain as USDT to trade, and you will receive airdrop credits for it. When you withdraw, however, you will have the option to send it as either USDT-Tron or USDT-Omni. 


What is the airdrop timeline and amount?

Any eligible accounts will receive the airdrop on a daily basis, using the APR provided by Tron. Poloniex will be conducting four snapshots a day for all the eligible accounts, and the airdrop will take place a few hours after the Tron snapshot. To learn more about Tron's airdrop timeline and amount, please click here