The Tron community requires a maximum supply of 100 billion TRX

Since last week there has been a huge buzz in the Tron community regarding the nonexistence of the hardcap on the total supply of TRX in the source code.

The majority of the Tron community [TRX] joined the most important social media platform, Twitter, which requires a maximum limit of $ 100 billion. In order to provide more clarity on the total number of TRXs, Justin Sun, the founder and CEO of Tron Foundation, has posted a post on Twitter.

The blog post stated that the total number of TRX will be determined by changing the mechanism reward and coins burned.

Justin Sun announced:

"TRX burn and the reward mechanism will change based on the development of the #TRON network and in sync with our community to ensure a #decentralized, #autonomo and #democratic TRON ecosystem."

However, this was not the answer that was requested by the community. The growing concern of Tronics is that the supply of TRX would violate the 100 billion mark in the next 2 years. This would result in a lowering of the price of the TRX as the supply would be higher than the demand according to the law on the economics of supply and demand

Tron token statistics according to TronScan: [19659008] Total supply TRX: 99,087,996,226,57 TRX [more than 99 billion]

  • Total burnt TRX: 1,000,000,000 TRX [1 billion]
  • Frozen tokens: 33,251,807,425 TRX [more than 33 billion i.e., 33.5% of total TRX tokens]
  • Circular supply: 65,836,226,412,37 TRX [more than 66 billion i.e., 66.44% of total TRX tokens]
  • Frozen tokens will be released on January 1, 2021. The Tron Independent Group [TIG] will be responsible for frozen tokens. The TIG is a team of 27 Genesis representatives and will be replaced by the 27 newly elected Super Representatives.

      Breakdown of the total supply of TRX | Source: TronScan

    Breakdown of the total supply of TRX | Source: TronScan

    Rovak, one of the main developers of Tron, has confirmed that at the moment there is no limit of 100 billion TRX even in the source code of Github. He said that Justin Sun will have to burn frozen tokens to keep the total supply below 100 billion.

    Rovak said:

    "The 1367 line increases the blocks produced for an SR of 1. Right now there is no control against the 100B ceiling.Just will have to burn the coins blocked by the Tron Foundation to keep the total offer below 100B The total offer will hit 100B in about 2 years if no action is taken "

    Proceeding to the confirmation, TronCoach, a Tron enthusiast, questioned that a petition to Justin from the community would have guaranteed a limit of 100 in the source code. To which Rovak said that an increase in supply does not matter.

    He said:

    "There are so many things that can happen in the next few years that an increase in total supply may not even matter, I'm sure Justin will find a win-win solution for TRON hodlers."

    TronCoach told AMBCrypto:

    "This means that TRX can be printed in infinity, just like the US dollar, TRX will hit its 100 billion marks in 2 years, from ~ 65 billion in circulation today . "

    TronCoah also added:

    " If the supply continues to grow indefinitely and at this rate, the traditional economy demand / supply indicates that the supply grows the demand to the fast clip. will keep the price low until a hard supply limit is set. "

    In addition, there was a survey on Twitter about the opportunity to add 100 billion hardcaps or less. The result showed that out of 123 votes, 90% of voters wanted a maximum limit established for the number of tokens.


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      Priya


    Priya is a full-time member of the AMBCrypto reporting team. He is a finance specialist with a one-year writing experience. You had no value in Bitcoin or other currencies.


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