Tron Foundation Set To Disburse 50 Million TRX To Super Representatives

TRON [TRX] Plays Hard, Enjoys New Peak Amidst Major Cryptocurrencies Dipping Lower
image Source: Shutterstock

Tron Foundation Set To Disburse 50 Million TRX To Super Representatives

Tron Foundation is set to disburse over 50 million TRX tokens (~$650,000 USD) to Super representatives starting 7th January 2020 at 0000 hrs. (SGT). According to the official report from Tron’s founder, Justin Sun, the giveaway is set on certain rules with exchanges, staking services and SRs who are genesis representatives all excluded from the giveaway.

The giveaway is set to incentivize the SRs with a key focus on future development from the blockchain and the community.

Tron Foundation launches 50 M TRX giveaway

The Tron community adopted two proposals to kick off a new incentivizing mechanism for their Super Representatives given the exemplary growth across the blockchain through November 2019. The 50 million TRX giveaway, approximately $661,000 USD at current rates, will reward 20 SRs to boost effectiveness on the blockchain. The Medium report reads,

“TRON Foundation rewarded community SRs with 50 million TRX, hoping to see their continued effort in maintaining a healthy TRON ecosystem.”

The SRs will receive their share of rewards in proportion to the SR’s blocks as a percentage of the blocks generated by all participating SRs since the Genesis Block.

TRX in an uptrend as top 10 slot firmly in sight

Tron has had a lot of positive developments at the close of 2019 with the acquisition of BitTorrent, Poloinex and migration of DLive (decentralized YouTube) to the Tron blockchain some of the most notable achievements. Well, the break into the top 10 list is also a notable achievement and despite dropping off to the 12th place, as at time of writing, the token looks set to break into the biggest 10 cryptocurrencies once again.

Tron top 10

Currently trading at $0.01312 USD, TRX is less than $20 million USD away from making it to the top 10, with Stellar (XLM) and Tezos (XTZ) set to make way for the token.

Image from Coinmarketcap

Summary
Tron Foundation Set To Incentivize Super Representatives 50 Million TRX
Article Name
Tron Foundation Set To Incentivize Super Representatives 50 Million TRX
Description
Tron Foundation is set to disburse over 50 million TRX tokens (~$650,000 USD) to Super representatives starting 7th January 2020 at 0000 hrs. (SGT).
Author
Publisher Name
Coingape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Lujan Odera
Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist. Follow him at @lujanodera.
Post your comment...
Lujan Odera 384 Articles
Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist. Follow him at @lujanodera.
Follow Lujan @