Poloniex Applies For Tron Super Representative After Justin Sun Invests In The Crypto Exchange
Justin Sun, the co-founder of the Tron Foundation recently revealed that he had made investments into the crypto exchange Poloniex which was earlier owned by Circle group.
The earlier Sun has refuted claims of any kind of investment interest in the exchange. Sun admitted to his investment a day after Poloniex listed Tron on its platform on November 12, however, he maintained that Poloniex would work independently of the Tron Network.
Now, Poloniex has come out with an official tweet announcing its application for the position of Super Representative of Tron. Super representatives are basically blocking producers on the Tron Network, and there are a total of 26 super representative positions open on the platform, which changes from time to time. The official tweet read,
We are proud to announce our run for #TRON Super Representative (SR)!
Through @Poloniex strategic partnership with @Tronfoundation, we will be able to provide more features, attracting new TRON users to the platform, thus benefiting the #blockchain and #cryptocurrency world. pic.twitter.com/1WNqH4fNlf
— Poloniex Exchange (@Poloniex) November 18, 2019
The timing of the Poloniex exchange applying for the Super Representative position could not have been better given Tron is set to discontinue its Block Producer rewards by next year, which was a plan made by the network to avoid inflation in the future.
Given that Justin Sun has made investments into the exchange, Poloniex would be aiming to deepen its ties with the network. The exchange is currently sharing the 1.5 million TRX reward on a daily basis, however it would be aiming to get the Super Representative position to get the block producer reward as well.