TRON founder Justin Sun has revealed a plan to implement a new staking mechanism for the TRX cryptoasset that will provide users with incentives.
TRX Staking Mechanism
In a series of tweets published on Sept. 21, Sun outlined the new staking mechanism, which he is characterizing as an “incentive plan” for TRX. Sun says that staking will provide a “fair, decentralized distribution of staking revenues,” while encouraging user participation and engagement.
New Staking #TRON Partners $TRX Incentive plan coming:
1. A fair, decentralized distribution of staking revenues, encouraging greater user participation and smoother engagement with staking from more wallets, exchanges and partners.— Justin Sun (@justinsuntron) September 21, 2019
TRON’s founder highlighted the need for greater voter turnout and a higher stake ratio across the network in order to invigorate the TRX community, which in turn will lead to what he calls a “more robust network economic system.”
2. Greater voter turnout, along with higher stake ratio across the network, which will bring about a more active community and a more robust network economic system, increasing the lock-up amount from users within the #TRON ecosystem.
— Justin Sun (@justinsuntron) September 21, 2019
3. Fewer unnecessary dividend distribution transactions, leading to less bandwidth consumption and greater network robustness.
4. A foundation for more complex consensus and incentive plans, signaling more possibilities for future development.— Justin Sun (@justinsuntron) September 21, 2019
Sun also claimed in the proposal that TRON is in need of more nodes and partners to create greater decentralization, and will target global and community participants.
Delving into the specifics, Sun’s proposal will reward the 127 most voted for nodes (TRON partners) with TRX in proportion to the number of votes they generate.
#TRON Partner Staking & Vote Reward: for each block, the most-voted 127 nodes (TRON partners) will receive TRX rewards in proportion to the votes they get. The total reward for one block is 160 TRX. We have optimized the way staking users can get returns.
— Justin Sun (@justinsuntron) September 21, 2019
Super Representatives for the TRON network will have to vote before implementing Sun’s outline, which means that it will be a while before the updated staking mechanism can go into effect.
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