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Justin Sun provides updates on Tron Reward Mechanism and TRX Burn
On a recent tweet, Justin Sun, founder of the Tron Foundation, announced that the Tron Network's reward mechanisms will change to become more sympathetic to the community and ensure it is decentralized, democratic and autonomous.
$ TRX burn and the reward mechanism will change based on #TRON development of the network and in sync with our community to ensure a #decentralized, #autonomo is #democratic TRON ecosystem. #TRX https://t.co/y6fkBSLilc
– Justin Sun (@justinsuntron) 27 August 2018
According to the post made by the Tron Foundation, since the Tron Foundation activated the main network of the network on June 25, the 27 Genesis representatives were replaced by the following 27 Super Representatives and the network entered its "constitutional phase" so effective and official. For this reason, heated discussions have started on how the system works.
After the election of the 27 Super Representatives, the community talked a lot about how burns of TRX tokens occur. Therefore, the organization considered it appropriate to provide clarification for users.
When the main network is launched, the total of TRX tokens has decreased from 100 to 99 billion tokens and more token burns will occur to keep TRX prices high. As the whole ecosystem grows more, more tokens will be burned.
The community will have the power to change the rules
The Tron Foundation is always concerned about maintaining the fair and democratic Tron environment, so it has stated that adjustments on how the burns will work over time following the community's votes.
On August 13, the community published a proposal to increase blocking awards for SR candidates on the Tron network. In this way, returns are not constant but determined by the reward mechanisms that change and by the burning of coins.
The idea of letting the community decide instead of maintaining burns and constant premiums is done because they have to adapt to the demands of network investors. The community always has the final word on how the network should be doing things.
For this reason, all users of the Tron Network must participate in the votes and elections of the company to be sure to have a voice in saying how the future of the community will be created.
About The Tron Network
The Tron network is a decentralized network created by the Tron Foundation and Justin Sun. Its main objective is to create a decentralized and democratic blockchain P2P network that allows its users to decide the future.
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