NEWS - TRON Foundation Announced TRON Century Mining

 

TRON Foundation announced a new program focusing on serious promotion for DeFi services. They plan to attract as many developers and users as possible to become the leading blockchain for DeFi applications. The latest program is focused on liquidity providers.

TRON Century is a staking program that provides the opportunity to stake one token and receive five tokens in return. The previous DeFi promotion from TRON Foundation in 2021 was the TRON DeFi Hackathon with a $100 million bounty.

 

 

 

Great Opportunity for Liquidity Providers

DeFi platforms need liquidity providers more than anything. LPs provide the required tokens for trading pools and make the systems alive. They receive rewards for their deposits. That’s the reason staking has been an excellent opportunity for cryptocurrency investors in 2020.

TRON has started moving alongside other DeFi blockchains and now aims to attract more liquidity providers in 2021. The latest TRON Century Mining is a program for that goal. It attracts stakers with a promise to receive five tokens in return for staking one token. BitTorrent, JUST Foundation, SUN Foundation, and WINk are other partners of TRON Century Mining.

TRON Century Mining is focused on supporting the growth and development of DeFi in the TRON ecosystem. It will begin on March 8th and may continue for three months. TRON Foundation has an estimated $100 million budget for mining in plans but has promised to subsidize the plan with no limits – if the response is strong from the community.

TRON Foundation invites every user and development team to participate in the latest TRON Century Mining program. The announcement details the five token rewards:

“TRON Foundation will provide a 5-token gift pack of up to 50% of the quota as subsidy. TRON Century Mining will also include TRON Project Token Mining, where you can also earn the same 5 token rewards from mining. This also means you can mine the 5 trading pairs for rewards which would include select project tokens, realizing multiple cross-token mining!”

Five mainstream tokens of the TRON ecosystem are in the latest mining program: TRX, BTT, JST, SUN, and WIN. Interested users can participate in the program using SUN.io, JustLend.org, and JustSwap.org.

TRON Century Mining is an ambitious plan from TRON Foundation to attract more users and developers to the new DeFi ecosystem. These plans move TRON toward an immense competition with others like Ethereum and Binance Smart Chain. The competition for becoming the first choice for DeFi developers will continue and become more severe in 2021.

TRON (TRX) News - Tron’s (TRX) DeFi Ecosystem Exceeds $5.7B in Total Value Locked

 

In brief:

• Total value locked in Tron’s DeFi ecosystem has now exceeded $5.7 Billion
• Tron’s proposal 51 has increased investors confidence in TRX as the digital asset is now deflationary
• TRX’s value has more than doubled in value since the beginning of the year

The Tron (TRX) Defi ecosystem has reached a new milestone in the form of total value locked. According to the project’s founder and CEO, Justin Sun, over $5.7 Billion is now locked on the various DeFi protocols on the Tron network. Mr. Sun shared this milestone with the crypto community via the following tweet.

 

 

Tron is Now a Deflationary Asset as a result of Proposal 51

Also worth mentioning is that Tron is now a deflationary asset thanks to the implementation of proposal 51 by the network’s Super Representatives. According to data provided by Tron community member Crypto Petrov, a total of 54 million Tron (TRX) has been burned forever since the proposal was implemented on the 10th of this month. Additionally, 4,906,000,000 TRX is now frozen thus reducing the circulating supply of Tron.

Proposal 51 was implemented by the Tron community to achieve the following.

Increase the current near-minimal fees for bandwidth and energy by 3,5 times in order to encourage higher freezing rate of TRX, diminish low-value transactions (spam txs), increase security, reduce TRX in circulation, and promote the increase of TRX’s value by eventually making TRX a deflationary asset.

Tron’s Value Has More Than Doubled Since the Beginning of the Year

The implementation of Proposal 51 has had a positive effect on the value of Tron (TRX). At the time of writing, TRX is trading at $0.048 after posting a local high of $0.064 on the 19th of this month.

Tron (TRX) opened 2021 at a value of $0.026 which means that it has increased in value by a factor of 1.84x when compared with its current value and by a factor of 2.46x when compared with its recent peak value.

With the new month of March only days away, chances are that Tron (TRX) will retest or exceed the local peak of $0.064 in the days and weeks to follow. However, as with all altcoins, the fate of Tron is very much tied to that of Bitcoin. Therefore, Bitcoin needs to provide the perfect environment for TRX to thrive.