TRON burns 50 mio USD worth of TRX in commemoration of the Independence Day

TRON burns 50 mio USD worth of TRX in commemoration of the Independence Day
Jun 24, 2018 by Rico Wise

The long-anticipated Independence Day of Tron is near, and to celebrate this the Tron Foundation has declared to burn TRX coins in the amount worth nearly 50 million USD, which is 1 billion TRX tokens. This is the largest amount of cryptocurrency to be burnt for commemoration purposes. Subsequently, the amount of the altcoin will be 99 billion tokens, with approximately 1/3 of that amount held by the Tron Foundation up to 2020.

9th biggest digital currency on the globe by its market cap stats has been working hard to launch its own mainnet, and the final stage is being finished very soon.

The success of the launch will become the courtesy of 27 representatives of Genesis, who have rehearsed to launch the mainnet without troubles.

Subsequent to the launch of the mainnet, the selection process for SuperRepresentatives will begin. Those who were the Genesis Reps will not be able to take part in this selection, though. As soon as 27 SuperRepresentatives take hold of the mainnet, the next stage will be to involve the whole community in the governance over the system. This is the exact point where Tron will part ways with the ERC20 protocol.

With TRX being listed on over 100 cryptoexchanges all over the world, it will be up to those exchanges to decide on the perfect time for migration to the Tron mainnet from the current ERC20 network. The migration will happen at a 1:1 exchange rate, so there is nothing to worry about.