Justin Sun Announces Upcoming Staking Plan for Tron Partners
Tron is now introducing a new staking incentive plan, announced Tron CEO, Justin Sun on Sept. 21.
This upcoming staking plan, Sun says would involve a fair, decentralized distribution of staking revenues.
For each block, Sun explains, the most voted 127 nodes that is Tron partners will receive TRX rewards in proportion to the votes they receive.
The maximum reward for one block is 160 TRX.
What does this Mean for Tron Network
The idea behind this is to encourage greater user participation and smoother engagement with staking from more exchanges, wallet, and partners.
Furthermore, greater turnout and higher stake ratio across the network, Sun says will bring about a more active community and a more robust network economic system.
This will also increase the lock-up amount from users within the TRON ecosystem, he said.
The long list of benefits of this staking just doesn’t end here.
Sun further states how this TRX incentive plan means fewer unnecessary dividend distribution transactions that will lead to less bandwidth consumption and greater network robustness.
The staking plan for Tron partners would also result in more Tron nodes and partners including increased global and community participants which mean greater decentralization of Tron network.
“A foundation for more complex consensus and incentive plans, signaling more possibilities for future development,”
With Great Rewards, comes Great Responsibility
With cryptocurrencies today trading 70 to 90 percent below their all-time high, staking is becoming a popular way to make easy money, in some cases coin holders score up to 30% rewards.
Coins like PundiX — leading with 18.46% yield, IOStoken, Cosmos, Waves, Qtum, VeChain, NEO, NEM, and EOS are coins that offers staking rewards.
However, staking is not just about making easy money, it has become a powerful incentive for participating in governance.
So, it is vital that coin holders understand the responsibility that comes with locking up their digital currencies.
In other news, MakeDao’s Dai stablecoin will be implemented on the Tron through Loom Network, a layer second scaling solution for the Ethereum blockchain.
Loom believes moving dai — the largest DeFi token with more than $337 million locked away in contracts — to other chains will help it grow.
Price wise, TRX is up 2 percent in the last 24 hours while trading at $0.017 as per Coincodex.