Last year, TRON's Super Representatives voted to increase block rewards on the network, and completely remove the hard cap on TRX. Despite evidence to the contrary, founder Justin Sun said that the TRON platform has nothing to do with this decision.
Both TRON proponents and observers from the broader cryptocurrency industry have criticized the increase in block rewards, as well as the removal of hard cap as self-interest and personal use.
According to the report, TRON supporters are calling on the TRON Foundation to burn tokens to address a situation where total supply now exceeds 100 billion TRX. This increase is a direct result of the reward plan that Super Representatives (SR) revised last year.
🔥 @BeatzCoin CCO: Justin Sun, Appar Time to Burn 1B #TRON (#TRX)
“After SR rewards commenced, $ TRX began getting minted, now results in the supply increase. @mishalederman calls on @justinsuntron to conduct another token burn. ”
Do you agree? Comment 👇🏽https://t.co/VvEQkUtBLj
- Misha Lederman (@mishalederman) February 3, 2020
“BeatzCoin CCO: Justin Sun, this is the right time to burn 1 billion TRON (TRX)
After the new plan for the rewards of the SRs begins, $ TRX will begin to be cast, which is now leading to an increase in supply. Mishalederman called on Justin Sun to carry out the token burning. ”
Sun recently tried to clarify the revised block rewards over one post on Medium. In the post, he said that the SRs voted themselves to increase the rewards and TRX holders will receive. Sun said the change is intended to create greater motivation for people to join the network.
In the post, the founder and CEO of the TRON network separated himself and the Tron Foundation from this decision.
"An action that clearly shows decentralization."
Observers from the wider cryptocurrency community have criticized the Tron network for this change. Correspondent Tim Copeland commented frankly about SR's decision to reward himself with greater rewards: "An action that clearly shows decentralization."
So Tron super representatives just voted among themselves to give themselves bigger rewards. So decentralized.https://t.co/O6au3WSOPK
- Heart (@Timccopeland) February 5, 2020
“So Tron SRs voted themselves to reward themselves with bigger rewards. This is an action that clearly shows decentralization. ”
Is an unleashing entity making decisions for TRON?
Although it is now said that the decision to adjust block rewards was only made by the SRs, before changing last year, Sun was actively promoting the new structure on Twitter.
More fair, more decentralized, more staking, increased lock-up.
- DPoS➡️DPoS + PoS
- 16 $ TRX per block per SR
- Top 127 #TRON Partners (by vote) split remaining 160 #TRX per blockUpdates awaiting approval by two-thirds of #TRONSRs! pic.twitter.com/ZdAJtfUSQr
- Justin Sun (@justinsuntron) September 27, 2019
“Fairer, more decentralized, more staking, increased lock-up.
- DPoS➡️DPoS + PoS
- $ 16 TRX per block per SR
- 127 top TRON partners (by vote) divide the remaining 160 TRX for each block ”
Another factor that left Sun in doubt, was the project's GitHub. The initial change proposal is submitted by a user from the official TRON Foundation domain, Tron.Network. This proposal actually included a deal to pay SRs a portion of which was worth TRX 50 million to vote for the change.
Creating a lot of intrigue and suspicion is Binance. Around the same time changes to block rewards were made, the leading exchange voted in the premium position on the TRON network. According to reports at the time, the actual transaction site used about 12 billion TRX held in cold storage to ensure success. This basically brings about 59% of future votes.
The report also suggests a suspicious intimate relationship developing between TRON and Binance. Evidence to support this claim includes:
- Assists in migration from Ethereum to TRON Mainnet.
- BitTorrent becomes the first Binance Launchpad service in 2019.
- Sun contributed financial support after the Binance hack.
- Sun invited Binance's CEO to lunch with Warren Buffet.
There is nothing we can do right now, aside from speculating about what's going on behind the closed door of the TRON Foundation, or whether Binance is involved in cyber-control efforts.
Dieu Anh
Bitcoin Magazine | Beincrypto
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