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TRON's Decentralised Governance Taking Positive Steps


TRON’s Decentralised Governance Taking Positive Steps

In case you missed it, TRON will be distributing 50m TRX to TRON Super Representatives (SR). That is currently worth around $982,500! From our understanding, this will be proportional to the blocks produced for the network since the Genesis Block, the block first produced independent of the Ethereum blockchain.

In the Medium article attached to Justin’s tweet below, TRON have stated that SRs must submit claim requests to demonstrate their eligibility for a portion of the 50m TRX allocation. SR’s must show their contributions to TRON community in terms of; technological innovation, ecological construction, global impact and community operation. SRs that are found to have not acted in the best interests of the wider community will be disqualified.

Proposal 27

What is it? Passed last week, Proposal 27 reduces the block production reward from 32 TRX to 16 TRX for the top 27 elected SRs.

In addition to the block rewards, there are candidate rewards which are calculated by the number of votes an SR candidate receives. This was previously 115,200 TRX over each six hour period, which worked out at 16 TRX per block; now, this is 160 TRX per block spread across the top 100.

What does it mean? With TRON’s new voting reward mechanism in place, every vote now matters. True, SRs will receive less TRX for block production, but instead will receive more for the proportion of total votes received. For the voters, it encourages them to vote for those they feel will best represent them, which in turn will ensure that the needs of the TRON community’s views are heard.

Intergalactic-Gaming as a Super Representative Candidate

Due to our position outside the top 27, 100% of TRX rewards received are currently dedicated to buying IGG from the marketplace and a monthly burn, which in turn, was designed to brings positive sentiment to both the short and long-term value for IGG holders.

During this time as a candidate, we have communicated how we intend to support adoption of the TRON network to our community. We want to add value to the network that has provided us with so much, and will do so with such a fantastic community behind us. Check out our first-year progress on the TRON network.

Positive Steps for TRON Governance

In terms of the 50m TRX reward for eligible SRs, we commend this initiative. We are happy that TRON is recognising and rewarding positive input on behalf of SRs and discouraging those that do not act in the interests of the network.

And then there is TRON’s new reward structure, which benefits all SR candidates, not just the top 27 elected. Since the change, we now receive about 1400 TRX per day ($26) with our current 7,234,368 votes. This is approximately 42,000 TRX ($798) per month and 504,000 TRX per year ($9576).

Community SRs have proven their dedication to bringing greater awareness for both TRON, the network, and TRX, the token. We therefore urge you to vote with a consideration for the future governance of the network, and for projects that seek to engage the community as a whole.

Next, see how v.1.0 of the IGGalaxy will support our objective of increasing awareness and adoption of the TRON network. The next piece will also provide a more insightful update regarding the relaunch of our candidacy!

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