Tron Foundation Burns 1 Billion of its TRX and Locks Up 33.25 Billion in TRX Mainnet
Tron completed its token migration and initiated its MainNet on June 25. The initiation was completed by Tron Independent Group (TIG).
During the mainnet launch, the company burned 1 Billion of its own TRX to celebrate the TRON Independence Day. The initial supply was 100 Billion TRX. With the reduction of the burnt coins, the total supply figure is now 99 Billion.
With the intention of maintaining the security of the network, the assets were locked by the Tron Foundation. The TRX was locked in 1000 addresses of TRON mainnet. At the same time, the 1000 address was revealed.
— Justin Sun (@justinsuntron) July 1, 2018
The circulating supply of 65.75 Billion TRX, there was another 33.25 Billion that was still held by the Tron Foundation. It is with the latter 33.25 Billion TRX that was locked in the Tron mainnet.
The Tron Foundation has made one more step in the right direction and with respect to guaranteeing the circulating supply of TRX until January 1st, 2020.
It means that crypto traders can go about their business in investing in TRX without fear of the circulating supply increasing or decreasing and crashing the value of the digital asset due to an over-supply.
A few days ago, Charles Hoskinson, Cardano’s Founder offered Justin Sun and Tron to use their Mantis clients, adopted initially by Ethereum Classic. Sun was able to answer this proposal some days later, saying that they would be certainly looking at it in order to build an advanced blockchain network.
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