Justin Sun Responds To TRX Coin Burn Criticism, Tron Super Reps Voted To Increase Cap

2020-2-8 21:29

TRON foundation passed its 27th proposal altering the method by which voting and block rewards are issued TRON’s stakeholders (Super Reps and partners) have been the key decision-makers of the networks' decisions

When TRON Foundation was founded in 2017 they initially started with the ERC-20 token which restricted their hard cap to only 100 billion TRX. However, in June 2018 when they had just announced their mainnet, TRON’s executives took the DPoS (Delegated Proof of Stake) approach. On which they introduced block and voting rewards for TRON’s Super Reps and those that held TRX stake. This resulted in the lifting of their hard cap.

Founder Justin Sun responded to TRX holders that went to social media to call out Tron for not running a coin burn since Justin promised to not let the supply cross 100 billion.

With an estimated reward of close to 500 million TRX annually, the blocks rewards are more often than not reserved for the super reps while the voting rewards are subject to division by the total votes.

Rewards per year = (SR rewards per block + voting rewards per block) * (seconds of one year/seconds of block time)

Therefore;

Rewards per year = (32 + 16) * 365 * 24 * 3600 / 3 = 504,576,000

The 27th proposal.

TRON’s 27th proposal sailed through on the 2nd Nov 2019, whose main objective was to change the Super Reps block rewards to around 16 TRX while altering voting rewards awarded to the 127 partners (27 Super Reps and following 100 partners) to around 160 TRX.

This brought about a substantial increase in TRON’s reward program encouraging more people to pick up Super Reps and partners and be active participants in voting and staking of TRON mainnet. Now all the functions are decentralized with close to 90% of rewards being pocketed by those who have a stake in TRON. This would mean that TRON’s hard cap would be subject to decision by block and voting rewards. Their rewards have since skyrocketed to 1.85 billion TRX annually.

Rewards per year = (SR rewards per block + voting rewards per block) * (seconds of one year/seconds of block time)

Rewards per year = (16 + 160) * 365 * 24 * 3600 / 3 = 1,850,112,000

Notably, TRON foundation doesn’t govern the TRON mainnet. It is mainly controlled by those who hold TRX and the community around TRX. The last decision TRON foundation made in regards to the Network was the original issuing of one hundred billion TRX, while all other key decisions were completely made by the super Reps and partners.

TRON (TRX) Live Price 1 TRX/USD =$0.0216 change ~ -3.85%

Coin Market Cap

$1.44 Billion

24 Hour Volume

$295.79 Million

24 Hour VWAP

$0

24 Hour Change

$-0.0008 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~TRX~USD");

Similar to Notcoin - Blum - Airdrops In 2024

origin »

TRON (TRX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1171
Капитализация $0 Rank 99999
Цена в час новости $ 0.0214472 (-100%)

tron cap when trx june 2018 had

tron cap → Результатов: 126


Tron Weekly Report highlights rise in DAU, transaction numbers and volume

Tron community was delighted with the TRX token surging by 6.12% over 24 hours, according to CoinMarketCap. The market cap of TRX was $1.68 billion, at press time. With just one week to go for Justin Sun’s lunch with Warren Buffett lunch, Jeremy Allaire, Co-founder & CEO of Circle, accepted Sun’s invitation for the star-studded […] The post Tron Weekly Report highlights rise in DAU, transaction numbers and volume appeared first on AMBCrypto.

2019-7-20 02:30


Tron plans to deliver community-focused infrastructure with Odyssey V3.6 Mainnet update

Out of the many crypto-focused innovations across the globe, Tron has managed to gain limelight in the cryptospace, despite TRX’s average performance and reduction in market cap. While some crypto-enthusiasts attribute Tron’s success to the stellar marketing skills of CEO Justin Sun, much of the community has graciously welcomed its latest updates.

2019-6-19 00:30


Ethereum [ETH] and Tron [TRX] struggle to get out of the coin market’s bear hug

Ethereum, the largest altcoin, stood firm in the face of a turbulent coin market, whereas Tron [TRX] moved a notch up from its 12th position to the 11th position, on cryptocurrency charts. 1 Day ETH chart Ethereum [ETH] recorded a 24 hour trading volume of over $9 billion, with its market cap around $26 billion, […] The post Ethereum [ETH] and Tron [TRX] struggle to get out of the coin market’s bear hug appeared first on AMBCrypto.

2019-6-6 20:00