Love it or hate it, TRON is one of the fastest moving projects in the cryptocurrency market lately. The controversial project has captured significant gains over the last week, rising from just over $0.04 to $0.58 due to the launch of the TRON testnet combined with an impending 30 Million TRX airdrop worth $1.7 million, capturing the attention of the crypto community.
The last month has proven to be a critical period for the entertainment-focused blockchain platform. Alongside the highly-anticipated airdrop, a high frequency of GitHub commits, the announcement of new Taiwan-based office, and a new $100,000 initiative intended to expand the TRON ecosystem have all contributed to a shifting community perspective of the divisive project.
TRON Announces $1.7M Airdrop To Ethereum Community
In a Medium post published on the 21st of April, the TRON team announced that 30 million TRX would be distributed via an airdrop to the Ethereum community as a “show of gratitude” for their support during the developmental phase of the project:
“TRON will airdrop 30M TRX to the Ethereum community as a show of our gratitude towards Ethereum for their support during TRON’s ERC20 phase, in addition to preparing for the Super Representative Elections after mainnet launch. TRON will airdrop 30M TRX (equivalent to approximately $1.7 million) to active user with a balance of over 1 ETH after January 1, 2018.”
According to the announcement, each account credited during the airdrop will receive between 10 and 100 TRX, with amounts selected randomly. The TRON team state that Ethereum played a “vital role” during the development of the TRON project, and want to provide TRX to the Ethereum community in order to allow users to experience their “high TPS development platform” as well as participate in TRON’s decentralized governance model.
Any wallet on the Ethereum blockchain that holds a balance of over 1 ETH and either transfer or receives ETH from block 4832686 to block 5471198 will be eligible for the airdrop. The move is clearly intended to attract the Ethereum community to the TRON project, with TRON founder Justin Sun emphasizing the fact that TRON is now moving into direct competition with Ethereum at the recent TRON testnet launch:
“From today to the last day, we are no longer the ERC20 token and in the future we will compete with Ethereum as a DApp platform. We will compete face to face with Ethereum, and we have confidence we will build a large ecosystem; a much large ecosystem than the Ethereum … we can surpass Ethereum in the future.”
TRON Boasts Second Most Active GitHub, Opens Taiwan Office
The TRON project has frequently been criticised by skeptical market observers regarding its slow pace of development and lack of a minimum viable product. Development appears to have increased speed recently, with the TRON GitHub demonstrating over 1440 commits from 41 different contributors, making it the second most active altcoin in the cryptocurrency development landscape, ranking slightly behind EOS.
In addition to picking up the pace of development, TRON has recently announced the opening of new offices in crypto-friendly island nation Taiwan. Justin Sun announced the opening of the office in a Tweet on the 22nd of April, stating that TRON would be participating in the Taiwan Blockchain Self-Regulatory Organization.
Justin: #TRON will open an office in Taiwan soon, and participate in the Taiwan Blockchain Self-Regulatory Organization.
— Justin Sun (@justinsuntron) April 23, 2018
In a subsequent Tweet, Sun highlighted the fact that TRON will be offering job opportunities for specialists from a variety of sectors:
“Right now there is a great opportunity for Taiwan engineers, marketers, PR, and others. You can join our TRON lab in TW, and participate in our community. Taiwan will be an important blockchain community!”
TRON’s move to Taiwan is a strategic one — the nation has recently adopted a strong pro-crypto stance in order to foster the growth of blockchain technology and DLT-based industries within the country. Taiwan’s Financial Supervisory Commission chairman Wellington Koo stated last year that the crypto industry will be treated in a manner that allows for the establishment of a “fintech sandbox” for cryptocurrency and blockchain startups:
“Just because China and South Korea are banning, doesn’t mean that Taiwan should follow suit – there is a huge opportunity for growth in the future. We should emulate Japan, where they treat cryptocurrency as a highly regulated, highly monitored industry like securities.”
Moving into an environment that promotes the development of blockchain projects in a proactive manner that allows blockchain organizations to govern themselves in a self-regulating crypto regulatory body is a positive move any platform, including TRON.
Justin Sun Announces $100,000 TRON Loan
One of the more interesting announcements from TRON over the last week is the unexpected launch of a new initiative in which the TRON will incentivize developers to contribute to the project.
In order to “expand TRON’s ecosystem,”, developers will be provided with loans of up to $100,000 USD in order to help solve budget shortage issues and assist with research and development operations.
— Justin Sun (@justinsuntron) April 20, 2018
Loans will be provided to developers that are able to contribute dApps and high-quality utility applications for the TRON network, and offers organizations or individuals that seek to contribute a choice between two financing options — developers can choose to either provide TRON with equity in recompense should the organization complete a new round of financing, or simply repay the loan interest-free in USD or “mainstream digital assets” within 18 months of financing.
Community reception to the loan offer has yielded a significant amount of heated discourse — while some proponents of the project argue that the loan initiative can be considered an investment strategy that yields tangible returns in the form of equity in valuable TRON-focused projects, others contest the viability of offering such large financial assistance to external projects while TRON is struggling with self-admitted budget shortage issues.
TRON Community Anticipates Mainnet Launch, Price Stabilizes
With the launch of the TRON mainnet set for May 31st, the TRON development team appears to be pushing heavily toward development in order to meet their roadmap goals. The spate of announcements released over the last week has boosted flagging investor confidence in the project, which has resulted in overall gains of 10%.
While TRON may be a controversial project among some, it’s clear that the team behind it is heavily invested in the success of the platform.
The post TRON Promises $1.7 Million Airdrop, Pushes Toward Mainnet Launch and Opens Taiwan Office appeared first on CryptoSlate.