TRON Block Reward Reshuffle Justin Sun Goes Hands up Regarding MatterFebruary 5, 2020
The TRON protocol evolution and Justin Sun’s response to the same seem controversial.
Sydney Ifergan, the crypto expert, tweeted: “I think I recollect something like, On July 20, 2018, when Justin Sun tweeted: Thank you for everyone who voted for me as a #TRONSR. I will live up to the responsibilities of this new role. All #TRX received will be returned to the community. Each vote counts! #TRON to the future!”
Ifergan further tweeted: “Being a Super representative, the founder and candidate should be aware of the TRON Block reward reshuffle. I think it is one of the responsibilities of the role he plays.”
TRON Super Representatives
TRON network has Super Representatives. Any account can become a super representative. Further, each account is permitted to vote for super representatives or superpartners. The top 27 candidates who have the most votes are known as super representatives. Those who are on the 28th through 127th are superpartners.
Super representatives are expected to generate blocks and package transactions. They also generate the corresponding voting rewards and block rewards. They also participate in the voting of the TRON network. Further, the 100 superpartners will be awarding per their voting rate.
TRON Block Reward Reshuffle
In the last year, there was some reshuffling of TRX block rewards. This increased the rewards to nearly 2 billion TRX per year. Further, the TRON Hard cap was also completely removed. However, Justin Sun, in the past, stated that reorganizing the TRON block reward does not have anything to do with him.
He stated that the decision to inflate the TRON TRX supply came from the super representatives. He said: “The original, initial token issuance of 100 billion TRX is the only decision made by the TRON Foundation. The rest of the decisions, including DPOS (delegated proof of stake) and the increase of the voting and block rewards, have been made by the committee of Super Representatives.”
This seems to be contradictory, as Sun previously promoted the plan until it was implemented. However, he now claims that he does not have anything to do with it.
On September 19, 2019, Justin Sun, previously tweeted: “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 block Updates awaiting approval by two-thirds of #TRONSRs!”
It was clearly stated that the staking rewards would consist of two parts, the first one being the block reward, which is 16 TRX as a reward for each block generated by the SR (which used to be 32 TRX) in the past.
The TRON Partner Vote Reward being the second part stated: “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 each block is 160 TRX. And each SR will receive (SR’s votes/total votes) * 160 TRX (which used to be (SR’s votes/total votes)*16 TRX)
The advantages of the new staking TRON Partners Incentive Mechanism was clearly explained in 5 points. Further reinstated that the improvement in the protocols will be implemented after more than two-thirds of all the SRs approve of them. The Tronics were required to pay attention to the voting process.