Leading cryptocurrency exchange Binance has become the top Super Representative for TRON’s network, in addition to announcing support for TRX staking.
Binance: TRON’s Top Super Representative
According to representative data compiled on TRON Scan, Binance has moved into first place with over 12 billion votes. Super Representatives are responsible for maintaining the integrity of TRON’s network and approving proposals in a decentralized fashion.
In addition to becoming the top TRON representative, Binance also announced support for TRX staking beginning Oct. 1. According to the press release, the amount of TRX earned by a user will be calculated based upon their holdings and the total staking rewards received by Binance each month. Users are required to hold a minimum of 5 TRX to qualify for rewards, with the initial distribution of staked TRX to be delivered before the 10th of November.
Earlier in the month, TRON founder Justin Sun took to Twitter to outline his proposal for updating the TRX staking mechanism.
New Staking #TRON Partners $TRX Incentive plan coming:
1. A fair, decentralized distribution of staking revenues, encouraging greater user participation and smoother engagement with staking from more wallets, exchanges and partners.
— Justin Sun (@justinsuntron) September 21, 2019
Sun’s proposal, which has yet to be implemented, seeks to improve the efficiency of TRON’s ecosystem.
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