33 Billion TRX: Tron’s New Year’s Gift to its Crypto Community

The Poll on 33 Billion TRX

In a subsequent tweet from TRON News, TRON Foundation asked its community members to vote on how the coins could be used for, including investing in partnerships, instituting a coin burn or re-locking the funds. The tweet claimed the responses from the users would provide the blockchain-based operating system with significant insights into how the community wants the platform to utilize the massive 33 billion TRX unlock.

Many Speculations on Fund Usage

Many community members believe that the 33 billion TRX could go toward boosting the crypto exchange Poloniex, in which the TRON founder Justin Sun had invested in recently. Sceptics are of the view that the TRON Foundation might dump at least some of the $445 million worth of TRX in the market, which could potentially hurt prices. Others think that a part of the fund would be possibly burned. While many argue against unlocking this amount, others say that a fraction of this amount should be set aside for TRON network developers.

Scandals Aplenty for TRON

Although the TRON Foundation often claims to be a “not for profit” network, many fear that it could release vast tokens into the market. Currently, 33 billion TRX value $445.5 million. Justin Sun, Tron’s CEO, had made a move to purchase Poloniex, and many believe that the funds could go into developing the exchange. The exchange also came under a lot of criticism earlier this month when it tweeted “Let’s Buy TRON”. However, it removed the tweet shortly afterwards. But it led to a bitter fight with DigiByte (DGB), which ended with Poloniex delisting DGB from its platform. Many saw Poloniex’s decision to delist DGB as an arm-twisting tactic on the part of Justin Sun as he is an investor in Poloniex.