TRON SEEDGerminator Sees 25 Million TRX Seedit Transactions and DEX for ICO Confidence is Coming
TRON (TRX) Launches The SEEDGerminator, A Decentralized Exchange (DEX) To Help ICOs Gain Market Confidence
A recent announcement by Seedit reveals that transactions made on the system in TRX have reached 25 million as unique tips have grown to over 661,000. Seedit is an easy to use payment platform based on the TRON network. This achievement can be attributed to an enthusiastic and supportive community that has worked tirelessly in pushing for the adoption of TRX globally. Seedit has been at the forefront in the efforts due to its extensive use to facilitate payments in TRX.
The SEEDGerminator, a new advancement on the TRON network has been credited with helping the TronWatch market surpass its USD 40 million soft cap opening a new chapter for the crypto whose target has now shifted to the attainment of its hard cap. The SEEDGerminator is an easy to use DEX with dozens of features allowing for secure trades linking TRX10 and TRX20 tokens. The smart contract facilitating the exchange automatically adjusts price depending on demand and supply and the exchange uses it to swap the fees collected in TRX for TWM tokens. This feature creates volume for TWM while creating price stability by allowing arbitrage traders to buy the TWM from various exchanges for sale back to the contract. In addition, TWM is used to pay the TronWatch team and associates who are expected to trade them in the future.
According to TRON, users can use the DEX to trade every token on the network with no requirement for whitelisting or approval. The exchange utilizes decentralized and immutable smart contracts to ensure all tokens can be traded with ease. However, since the transactions are expected to be too many to list, users will be required to pay a transaction fee of 150,000 TWM tokens in order to have the transactions listed. Of the TWM collected in transaction fees, 50% will be burned in order to reduce the total TWM tokens available for circulation. Listing will ensure adequate liquidity for token creators such as ICOs and dApps while creating demand for the TWM tokens.
There are a number of considerations to be made by users intending to stake TWM to feature their tokens on the DEX. First, the exchange will feature a few tokens giving them more prominence for better visibility. In addition, anyone is allowed to vote for tokens to be featured by staking TWM as well. It is important to note that staking TWM does not lead to lose of the tokens; rather the tokens are frozen until the user makes a request to have the tokens returned. Tokens that receive the most votes will benefit from zero transaction fees for all its users creating an attractive option for recent ICOs and token holders wishing to gain the market’s attention and grow their community. This will further help them with liquidity requirements building more confidence in their tokens among future traders.
Tron has been among the leading players in the push for mass adoption of cryptocurrencies. The token has gained 2.67% in the last 24 hours to trade at USD 0.0225. It ranks 13th among cryptocurrencies with a market capitalization of USD 1.48 billion.