tron holds $95b in USDT, roughly half of tether's entire supply. the chain's economic moat is being the cheapest dollar rail on earth. UTEXO is weeks away from launching USDT natively on bitcoin via RGB protocol with lightning integration. near-zero fees, bitcoin-grade security, privacy through client-side validation, no separate gas token. tron captured stablecoin dominance because RGB development lagged from 2016 to 2024. that lag is over. TRX validators live off USDT transaction fees. if even 15-20% of volume migrates to lightning rails, tron's fee revenue model needs a complete rethink. tether funded UTEXO with $7.5m and is building wallet support. they're not experimenting, they're repatriating USDT to bitcoin 12 years after it was born there