Tron Founder Justin Sun Announces $20 Million Free Cash Airdrops & Tesla Giveaway

Omar Faridi

Justin Sun, the founder of Tron (TRX), a leading platform for developing and deploying decentralized applications (dApps), is reportedly planning to launch a $20 million airdrop and the former Ripple Labs employee also intends to give away a free Tesla automobile.

Celebtrating Successful Launch Of BItTorrent Token (BTT) And Planned Introduction Of Tron-Based USDT

Sun, who has requested his nearly 1 million followers (on Twitter) to retweet his post regarding Tron’s “global appreciation campaign,” has said that he will randomly select 1 lucky winner for a Tesla by March 27th, 2019. The crypto entrepreneur also revealed that he “may decide” to “give away more” in “free cash airdrops.”

As noted in Sun’s post on Twitter (which has now been retweeted over 28,000 times), Tron’s appreciation campaign has been launched to celebrate the introduction of the BitTorrent token (BTT) and the recent partnership with Tether Ltd. - which involves releasing a Tron network-based USDT stablecoin.

Those looking to participate in Tron’s global appreciation campaign have been requested to follow and retweet Sun’s tweet. At present, it’s not clear exactly how Tron’s “free cash airdrop” will be distributed and to how many eligible users.

TronBet Records Over $40 Million In Weekly Betting Volume

Recently, the Tron blockchain network surpassed 2 million mainnet users. This, after only 249 days since Tron’s mainnet went live in late May 2018. Although dApp usage has remained relatively low, with over 90% (on average) of distributed applications not recording any transactions last month, there appears to be several Tron-based dApps that are seeing increased adoption and a relatively high userbase.

TronBet, a decentralized gambling dApp developed on the Tron network, reportedly recorded $41 million in weekly betting volume earlier this month. Notably, TronBet’s users had been wagering huge amounts in order to take advantage of the app’s massive daily profits - which were reported to be between $75,000 to $150,000 per day (on average).

Tron Hard Fork Upgrade Activated Last Month

Twitter user vance, who initially reported TronBet’s surging volume, also revealed that some user had reportedly “wagered $98 million” and that “the top 20 users” had wagered a combined $455 million in just one week. According to vance’s estimates, the TronBet app is set to record profits of almost $36 million “with [a profits to earnings] P/E ratio of 1.”

Last month, the Tron (TRX) blockchain network went through a hard fork (backwards incompatible) upgrade which was reportedly activated on February 28th, 2019. Some key changes to the Tron network included (version 3.5):

  • Multi-signature crypto wallets
  • “Institution ready” and new Tron account management tools,
  • “Dynamic energy adjustment to real-time network performance”,
  • “50% up performance & res usage”,
  • Improved Tron Virtual Machine (VM) safety,
  • Updates to “events server for dApps.”