Tron Launches Tron Accelerator, a $1M dApp Incubator Program

Justine Pope
  • The Tron Foundation has announced the start of Tron Accelerator, an incubator program that plans to use $1M to fund dApps in the start-up phase.
  • The awards will be split up between 56 projects, and winners will be announced in 2019 at Tron’s niTROn summit.

Tron (TRX) recently launched Tron Accelerator, an incubator that aims to “empower developers and foster innovation within the blockchain industry.” The Tron Accelerator will use funds from the Tron Foundation to help fund decentralized applications (dApps) in their start-up phase. As the name implies, their goal is to accelerate the growth of dApps on their platform.

Since the Tron mainnet launched in June of this year, the focus in the Tron community has shifted from finishing the protocol to building dApps. The Tron Foundation hopes to be a catalyst for dApp adoption, and this Accelerator shows how they’ll use the 33 billion TRX they currently hold. Although most of these funds are frozen by the foundation, only to be unlocked in the future, that 33B still represents 34% of TRX’s final circulating supply, or $639M.

The Tron Accelerator will award a total of $1M, split up between 56 winning projects. The prize ceremony will be held in January 17 & 18 2019, at the Tron niTROn Summit in San Francisco. This will be Tron’s first international summit, and will give “[attendees] a chance to participate in high-level conversations and engage with Tron's vibrant community.”

The awards will be divided as follows:

  • 1st Prize (1 Winner): $200,000 + free travel and accommodation to niTROn
  • 2nd Prize (2 Winners): $100,000 + free travel and accommodation to niTROn
  • 3rd Prize (3 Winners): $50,000 + free travel and accommodation to niTROn
  • Special Prize (8 Winners): $30,000 each awarded to winners in 8 different categories: Best Blockchain Game, Application Tool, Decentralized Exchange, UI Design, Innovation, User Experience, Most Influential DApp, Most Onchain Activity DApp.
  • Finalist Prize (42 Winners): $5,000

The timeline for projects wishing to participate is:

  • Dec 1, 2018 - Project Submissions Opening
  • Jan 4, 2019 - Project Submissions Closing
  • Jan 5, 2019 - Judging Begins
  • Jan 10, 2019 - Winners Picked
  • Jan 18, 2019 - Prize Ceremony in San Francisco

Judges include Justin Sun (CEO & Founder, Tron), Vincent Niu (CEO, DappReview), Alex Wearn (CEO, Aurora), and many more. Full rules and documentation can be found on the Tron Accelerator website.

Dueling dApps

Could this accelerator help TRX catapult over ETH? Over the past few months, TRX has seen substantial growth in transaction count, so much that TRX has, at times, surpassed Ethereum (ETH) in transaction volume, as celebrated by Tron CEO Justin Sun:

Despite this steady growth, some critics claim that transaction count is not a reliable metric of blockchain activity. Either way, it’ll be interesting to see what happens as more dApp platforms come online and challenge ETH’s status as market leader.

Chinese Yuan 'Inversely Correlated' with Bitcoin, Amidst US-China Trade Wars

Since January 2018, China and the US have been involved in an intense trade war in which both countries have significantly increased tariffs on imported goods and services.

Due partly to the rising tension between the two countries, the Chinese yuan (CNY) has been losing value against the USD. During the same time period, the price of bitcoin (BTC) and other major cryptoassets has been surging.

As noted by the South China Morning Post (SCMP), the value of BTC, the world’s most dominant cryptocurrency, increased by 26.5% to $7,878 during the time period from May 5 to May 17. Notably, US President Donald Trump had announced on May 5 that he would further increase tariffs on goods imported from mainland China.

Chinese Yuan Weakens as Nation’s Government Responds to Increased Tariffs

The SCMP pointed out that the yuan dropped to its lowest level since the past six months after the Chinese government responded to Trump administration’s decision to impose higher tariffs on China.

Commenting on the price fluctuations of both the yuan and bitcoin, Garrick Hileman, a Macroeconomics Researcher at London School of Economics (LSE) and Head of Research at Blockchain.com, remarked:

We are observing a strong inverse correlation between the [Renminbi] RMB’s value and bitcoin, meaning that recent RMB declines over trade tensions have been closely matched by increases in the value of bitcoin.

“Correlation Does Not Necessarily Equal Causation”

Hileman also mentioned that we “cannot be 100% certain” that the bitcoin price has been increasing due to heightened concerns regarding trade tensions and the corresponding decline in the value of the yuan. The blockchain researcher stated:

Trade tensions and declines in the RMB’s exchange rate as correlation does not necessarily equal causation.

Hileman, who earned his Phd from LSE, revealed:

This is not the first time we’ve seen significant increases in the value of bitcoin taking place alongside yuan concerns.

He added that there’s “growing recognition of bitcoin as ‘digital gold’ and it being used as a hedge against various macroeconomic risks.”

“This Year, the Narrative Is Bitcoin, Bitcoin, Bitcoin”

According to the SCMP, bitcoin’s price may have surged recently due to the generally positive remarks made about it at the Consensus 2019 conference.

Meltem Demirors, the Chief Strategy Officer at CoinShares, a crypto treasury management firm, has also confirmed recently that the narrative this year has been mostly about Bitcoin. Demirors revealed that both institutions and retail investors are “feeling good” and are “more confident” about the long-term potential of Bitcoin and the evolving ecosystem that supports it.