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TRON (TRX) to Hold the First SR Election: Odyssey (OCN) One of the Candidates

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TRON

TRON Independence Day is June 25th and is considered by many to be the biggest blockchain event of the year. Already a great day for all TRON HODLers, Justin Sun has also announced yet another event that is scheduled for the “post-Independence Day” era.

Apparently, with June 26th, only a day after officially entering the new phase with TRX, TRON will be organizing the election for Super Representatives where the total of 27 representatives will be chosen for these positions.

As presented by Justin Sun and team TRX, one of the candidates that will participate in the SR Election is Odyssey (OCN).

Independence Coin Burn to Introduce the Start of the Super Representative Election

Prior to the scheduled SR Election that should take place for the first time on June 26th, team TRX on the head with Justin Sun has announced that they will be having a massive burn of TRX units, while Justin Sun added that the initial coin burn will be the “greatest amount of money in the human history ever to be burned to celebrate a historical moment (Independence Day for TRON)”.

With this announcement, there will be 1 billion TRX burnt within this event, which is equal to 50 million USD.

The coin burn will consequently increase the value of the remaining coins, as after each coin burn, the market capitalization that was previously marked, sticks with the remaining circulating coins for a while.

However, to get back to the point of the story, only one day after the official proclamation of the Independence Day for TRON, the TRX community will be choosing the total of 27 Super Representatives with the first day of election starting on the mentioned date.

The group of the 27 SR will be representing all TRX users, holders and investors and users, while these members will play a crucial role in the further development of TRON network and main net.

As it has been previously stated in the official release from team TRON, anyone can apply to become a super representative and participate the election, while Justin Sun called out to all TRX holders to apply and vote for their favorite super representative that way assuring their Super Representatives taking their spot among the 27 of total SRs that are to be chosen for this role.

Justin Sun added that he will also be participating in the voting process starting from June 26th, stating that the stage Exodus will be ending with the SR election, while Odyssey is to follow up shortly after the 27 SR has been elected by the TRX holders and investors.

TRON and the Role of Super Representatives

The team representatives have stated that over 65 billion TRX will be joining the election of the super representatives for TRX network, while Justin Sun added that these SRs will play an integral part in the further life of the TRON network alongside with the further development of the upcoming stage Odyssey.

With his announcement, Sun also added that the 27 Representatives will be awarded the exact amount of 1,009,152,000 TRX being awarded to the Super Representatives.

The awarded TRX units will be distributed by TRON protocol that is set to award 32 TRX per every generated block, while there will be one block generated per single second.

As far as the role of the Super Representatives concerned, the TRX SRs will be working on providing the needed validation as well as the calculation for the network, while representing the community of millions of TRX users from across 100 different countries around the world.

The governance of the network will also belong to the 27 elected SRs, that way placing TRX currency as a highlight of the development of the network, alongside with presenting the will of the community members, that way making sure that crucial operations in the team TRX are transparent and in accordance with the need of TRON holders.

In general, 27 Super Representatives are to become the official guardians of the network, while working on bookkeeping, generating blocks, and other crucial operations that have the goal of creating a self-governing community while entering the next stage of development for TRON.

Odyssey (OCN) Appears as a Candidate for TRON SR Election

Odyssey has gone forward with announcing their candidacy for TRX SR election already back in April, with an official announcement being released on Medium on April 17th.

On this occasion, OCN team has stated that OCN is aiming at joining TRX by becoming an SR in order to create a “truly decentralized internet”.

Odyssey (OCN) already makes a strategic partner for TRON, so Justin Sun also introduced Odyssey as one of the SR election candidates.

Given the fact that OCN and TRX already share the same goals regarding the blockchain development, this blockchain project seems to have solid chances of taking one of the 27 spots that are reserved for TRX Super Representatives.

However, the votes of the TRX community will show whether OCN will be joining the SR team at end of the election, as “every TRX counts”.

TRON (TRX) Performance

TRX seems to have pushed IOTA down to the spot number 10, while now taking the spot of the 9th best coin in accordance with the global coin ranking list while having 2.8 billion dollars in its market cap.

However, although TRX is seen going up against ETH and BTC on June 23rd, only several days prior to Independence Day for TRON and the announced SR election, TRX is still going down against the dollar with the latest market trend, although the marked drop for today’s date seems to be lower in oppose to its crypto peers.

By dropping by -1.54% against the dollar, TRX can now be traded at the price of 0.043$.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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