Home CryptoCurrency News Tron celebrates its first anniversary since the migration to its mainnet

Tron [TRX] celebrates its first anniversary since the migration to its mainnet

Today makes the first anniversary for the ecosystem having migrated its ER20 tokens from Ethereum ecosystem to its blockchain ecosystem in this day. To celebrate this day and unveil its plans, Justin Sun has cleared his busy scheduled and will hold a live streaming event on YouTube and PeriscopeCo. During the live streaming event, Sun will be answering questions from the public concerning the Tron ecosystem and questions from the BitTorrent community.

While the live streaming event will mark a huge significance in Tron’s community and the crypto community at large, the main event will be revolved around the burning of 1,000,000,000 TRX and leave Tron ecosystem will only 99,000,000,000TRX. Burning of 1,000,000,000 TRX worth of digital assets will be the highest amount of money to be burnt in the crypto industry. At the current market valuation, the burnt money is worth 50 million US dollars. On the other hand, 33,251,807,524 TRX of the remainder of the assets will be in the custody of the Tron Foundation and will be locked up until 1 January 2020.

Other Announcements That Come Up From the Tron Foundation

In addition, the Tron Foundation also talked more on the increased attention towards the Tron buyback plan together with TRX holding plan. In regards to TRX buyback plans, the Tron Foundation will hold the most extensive coverage in the secondary market. it is here that the TRX buyback plans will be set rolling and will run for one full year. The latter will take place in intervals where each TRX buyback plan will not contain less than $20 million.

On the other hand, the TRX, under Tron Foundations holding will be unlocked come 1st January 2020. While the foundation’s aim of the buyback plan is to increase market stability and stir up community activity. For unlocking the Tron Foundation’s holdings, the foundation is after manifesting its confidence when it comes to the development of the Tron ecosystem. The past year has been a great one for Tron ecosystem. BitTorrent file sharing system was launched, and now the crypto community is set to hear future developments.

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