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With the tremendous amount of growth TRON (TRX) has shown in the last week, it will not be long before it becomes the eighth largest cryptocurrency on the market.
At the time of writing this article, the market capitalization of TRX amounted to 1,646,937,062 USD while Litecoin (LTC), which is currently the eighth most important cryptocurrency of the encrypted market in terms of total capitalization, has a capitalization market share of 1,972,314,635 USD.
Read also: TRON (TRX) shows promising gains after the summit niTROn 2019
The cryptocurrency owes much of its growth to its active community that supports the various projects on the net with all its heart. Recently, the TRON-based POS system, Poppy, has announced that it has decided to be created as a TRC10 token.
The team also announced that for every TRON (TRX) transaction, there would be a total commission of 2%. Regarding the functioning of the tax system, the team explained in a recent Medium article:
"The first commission of 1% is the payment processing fee for all TRX transactions, this will be Poppy's revenue, which will be divided into approximately 72% that will go to the Poppy organization itself. and about 28% distributed to Poppy token holders in the form of Poppy, this is described in more detail in the Poppy Rewards to Holders section, the second commission of 1% will be repaid to the buyer as a Poppy token . "
Speaking of rewards for the owners, the team said:
"As described in the Commissions section, a commission of 1% is charged by the Poppy transaction for TRX as Poppy revenue.About 28% of this commission will be paid into an account to be distributed to Poppy token holders. This account will accumulate for the entire period of the monthly prizes.All activities in this account will be used to purchase the Poppy tokens at the end of the reward period.These Poppy tokens will be purchased through Poppy Market Maker as described in the Poppy Market Maker section. "
Speaking of rewards for users, the team said:
"Poppy prizes for users will be distributed to portfolios that make purchases using Poppy, users will receive their prizes in the form of a Poppy token.There will not be a fixed number of Poppy tokens to reward.The amount of prize Poppy token will be based on value of Poppy at the moment and will be determined by Poppy Market Maker as described in the Poppy Market Maker section. "
Turning to Poppy Market Maker, the team said:
"To provide Poppy tokens for Poppy prizes to users and Poppy prizes to owners, the Poppy rewards system will purchase the Poppy tokens on the resale market.This purchase will take place between the closing of the monthly rewards period and the 7 day limit for the distribution of Poppy to the beneficiaries of the rewards.This purchasing process will be controlled by smart contracts in the Poppy Market Maker system. "
Adding to it:
"Poppy will periodically determine the most effective system to obtain the purchase of the Poppy tokens required by the rewards programs.The details of Poppy Market Maker as the choice of the exchange can be modified in the future based on this determination.All Poppy tokens purchased for a monthly reward period will be purchased through the method selected in sequential purchases through the execution of a smart contract, which means that all Poppy tokens will be purchased from the same place at the available market rate. method of purchase will be announced publicly before purchase. "
Continuing with it:
"Within Poppy Market Maker, Poppy Rewards will typically purchase Poppy tokens from a Bancor style exchange, which means premium programs will purchase the required Poppy tokens at the available market rate.Using a Bancor exchange means that there will always be Poppy tokens for sale as one side of the listed listing can never be fully purchased.This will ensure that rewards programs buy fractions of a Poppy token at whatever price is available when the rewards program makes # 39; purchase. "
Speaking further:
"Within Poppy Market Maker, the Poppy token will be paired with a Bancor-style exchange with SEED only.The Poppy Rewards system will use the funds in Poppy Rewards accounts to purchase SEEDs at market rate from the stock exchange. so exchanged with Poppy.
Both the SEED / Poppy and SEED / TRX Bancor style couplings will be available to the public. In this way, Poppy and SEED token holders can sell their tokens at the exchange rate at the market rate. The public will be able to access Bancor style trading and trading using SEED / TRX and SEED / Poppy couplings. "
In addition to this, the team said:
"The Poppy Market Maker system requires approximately 1.28% of every purchase made using Poppy to be assigned through the Poppy token purchase bonus programs at the market rate.
All transactions within the Poppy Market Maker system are subject to minimum transaction amounts based on the currency involved. For example, Poppy can not be treated in quantities less than 0.000001 Poppy. This means that after making the distributions, Poppy Market Maker accounts may contain small amounts of remaining funds. These funds will be held by Poppy Market Maker until the next prize period. "
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