Justin Sun Tweets About Upcoming Staking Model for TRON (TRX)
Justin Sun, founder of the TRON distributed ledger technology (DLT) project, and CEO of BitTorrent has revealed plans to launch a new Staking Partners Incentive program TRON network as part of efforts to promote greater participation of investors from across the globe in the TRON ecosystem, according to a tweet on September 21, 2019.
TRON to Launch New Staking Model
Per the tweet thread, a new staking Partners Incentive Plan will soon be launched on the TRON network, which will help to garner more user interest and participation in the community.
Justin Sun also hinted on what the incentive program will entail, and according to the CEO, it is an impartial decentralized method of distributing staking revenues, which is to spur user engagement via staking from more wallets, partners, and exchanges.
As a result, the high user turnout coupled with a higher stake ratio should make the TRON ecosystem more active with a robust network economic system.
Staking Plan to Reduce Bandwidth Usage
Sun further hinted that the proposed staking program will use less network bandwidth with enhanced network robustness, whilst also serving as a solid foundation to create more complex consensus and incentive plans.
Sun says nodes and partners can potentially foster greater decentralization and open the network to more users around the world.
“#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,” Sun said.
Interestingly, TRONs announcement has attracted some positive reactions from some crypto enthusiasts who have opined that the staking program is a right call since it will be available to the masses and not only to crypto big whales.
Notably, Justin Sun has been a subject of several criticisms in recent times.
For instance, the 29-year-old informed announced on April 24, 2019, that Liverpool F.C intends to partner with the Tron Foundation. On the contrary, the British professional football club refuted the claim stating that they had also sent an invite to several other companies.
What’s more, in June 2019, Sun postponed his much talked about $4.6 million lunch with bitcoin hater, Warren Buffet, and it remains unclear whether the event will ever hold.
Earlier in March 2019, reports emerged that a huge chunk of Sun’s millions of Twitter followers were like bots.