This article was first published on Stories by TRON Foundation on Medium
TRX, the native token on TRON MainNet, has completed its first deflation in history from March 30th 2021 to April 5th, 2021. According to statistics on Tronscan, a TRON blockchain explorer, the total supply of TRX has been cut from 101,678,790,175 to 101,673,029,723, down 5,760,000, with a worth of $780,000 (calculated based on the price on Binance at 10:20 on April 6 (UTC+8)). This historic move marks TRX’s leap into the era of deflation, which makes it the world’s first cryptocurrency that moves from inflation to deflation.
It’s both the historical opportunity and the consensus among the TRON community that bring about the shift of TRX into a deflationary asset, creating the world’s first delationary digital currency.
I. TRON Proposal 51 Adopted by Community
TRON Proposal 51 was initiated by TRON Super Representative CryptoChain and became effective at 20:00:00 on Feb 11, 2021. Proposal 51 includes the following changes:
Set 1 BANDWIDTH at the price of 0.00014 TRX;
Set 1 ENERGY at the price of 0.00014 TRX;
Limit the fee of a single smart contract to 5000 TRX;
When Proposal 51 enters into effect, TRON founder Justin Sun says on his twitter, “TRX is likely to become the first deflation crypto in the world. Also I don’t think TRON should increase bandwidth & Energy fee in the near future. A competitive and low network price attracts developers from Ethereum.”
II. Seizing the opportunity of the era, TRON ecosystem is enjoying explosive growth
Since its inception, TRON took it as its mission to “decentralize the web”. From “Exodus” to “Odyssey”, and “the Great Voyage” to the upcoming “Apollo”, TRON has been moving forward on the journey to explore Web 3.0. Even in the face of bearish markets, the TRON team remains true to its original faith: it spares no effort ...
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Stories by TRON Foundation on Medium