“ Currently, TRON mainnet runs smoothly, there are 1058 nodes around the world, block height: 2309162 (As of 18:45, September, 13, SGT), token migration is still in process, meanwhile TRON will keep Tronics informed, thank you for your support.” According to Tron Foundation, the coin burn is regarded as the final phase of the Tron’s complete migration from Ethereum’s protocol.Īs mentioned earlier, the 5 th set of TRX tokens have been burned the first set of tokens burned during Tron’s mainNet launch was approximately $50 million.ĭue to the fact that about 4,917,487,036.059613 ERC20 TRX tokens have burned recently, Tron Foundation stated this in a blog post: Tron’s MainNet was launched on July 25 th, and since then, Tron has continued to burn some of its old tokens. According to Sun’s tweet, the ERC tokens burnt was roughly 4.9 billion – the coin burn occurred last week, on Thursday, Sept 13. It is important to know that this will be the 5 th set of ERC20 TRX tokens that have been burnt by Tron after the launch of its MainNet. “TRON will officially become a free, autonomous, and self-governed decentralized protocol with robust community consensus.”Īnother significant event for those in the San Francisco area will be the TRON Independence Day Party, where users and developers can meet and share their experiences and expectations.Yet again, during a tweet by the CEO of Tron, Justin Sun, the Tron foundation announced the burn of ERC-20 tokens. This would be the culmination of all the work of research, development, promotion, and implementation that the team of developers and users of Tron carried out since Tron’s inception. Constitutional Phase: In which the independent mainnet of Tron would be launched with an official migration of the ERC20 tokens.Genesis Phase: A phase that would begin on June 25th and last as long as necessary to create the genesis block and reach an agreement to replace the 27 Genesis Representatives with Super Representatives.
Trx number burned full#
Guardian Phase: Phase that would last a full day, scheduled for June 24th.Of these, one of the most significant is the election of the Tron’s Genesis Representatives who would participate in the mainnet launch. Preparation: A preliminary stage that would last from June 18th to June 23rd in which the necessary arrangements for the launch would be made.To ensure the transparency of the process, he explained that Tron’s mainnet launch process would consist of 4 essential phases:
The amount of TRX at the beginning of mainnet launch will be reduced to 99,000,000,000,000TRX, and the remaining 33,251,807,524 TRX held by TRON foundation will stay locked until January 1th, 2020. This avoids an inflationary process for the currency and protects the value of each Tronix unit to some extent: Events in which tokens were delivered to users without the need for them to have traded or mined them.Īnother important point they mentioned was that after the burn,Tron Foundation would continue to maintain a significant number of “locked” tokens. Of all, the most important and famous were the famous airdrops. Previously, Justin Sun had made other important announcements to promote his crypto after moving from ERC-20 tokens running on Ethereum’s blockchain to units within an autonomous blockchain. The decrease in available tokens increases the value of each unit in the market, and thus the currency is revalued.Īccording to the Tron Foundation, “This may set the record for the most amount of money destroyed in human history in celebration of a historic moment.” Typically when a coin burn happens, the effect on the market is bullish. Perhaps the most important of all is that of a coin burn of 1 Billion Tronix, which would be equivalent to approximately 50 million dollars according to current figures.
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Sun disclosed a series of events they were preparing to commemorate Tron’s Independence Day. A few hours ago, on the official Tron Foundation blog, Mr.
Justin Sun is familiar with major announcements, and when it comes to his blockchain, he never has enough.
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