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Proposal 71: The First Deflationary Token of the top 100 Cryptos

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For many of us in Tron, there was a disturbance in the force when CEO Justin Sun announced proposal 71. To be perfectly honest, this caused havoc for Tron users who were wielded to lower fees but as time progressed we saw the light at the end of the tunnel concerning higher fees.

Proposal 71 doubled the fee amount for transactions on the Tron Network from 20 TRX to 40 TRX. Compared to Ethereum this is still extremely cheap, however, this is the second time a fee increase has been proposed and passed this year! It begs the question: WHY?!

Why would a CEO intentionally raise the price to do business on his Network? The answer is multifaceted and it would help first to understand how Tron works. Tron Network is a Blockchain that operates on a POS (proof of stake) model, unlike BTC which is POW (proof of work). This makes Tron unmineable, and the method for minting new tokens has to be done through the governance of the ecosystem.

Tron has a “Freeze, Vote, Earn” governance that allows for the community to move the ecosystem in a particular direction through what we call proposals. These proposals are created by Super Representatives. When you Freeze TRX you get 2 things in return: Energy, and voting power! You can vote for your SR and get the according to APY as a reward. The TRX generated through this process is the production or minting of new TRX tokens. The energy that you get when TRX is frozen helps to get you FREE transactions on the network! This is a win-win scenario for long-term Tron holders!

The top 27 voted-for candidates on Tron are Super Representatives and make up the governing body of the ecosystem. 18 votes to a proposal mean that it is passed.

Now that you have a general idea of how Tron works, let’s break down how TRX became the first deflationary token of the top 100 coins! As stated above proposal 71 made TRX get higher fees which are paid in TRX. This means more Tron will be burned (removed from the supply) resulting in less production. And in this case, NEGATIVE production! 

This is great for the ecosystem because it gives Tron an edge in the market attracting new investors. A coin’s price is based on Market Cap and Supply, and the higher the market cap the more a token or coin is worth. Lower supply means that buys have a bigger effect on positive price action. This puts TRX on a path for new ATHs and mass adoption. Not only has proposal 71 turned TRX into the first deflationary token, but it also prompted more TRX to be frozen in order to get the energy to cover the cost of transactions. This also implies more buys and fewer sells of TRX. The more Tron that cannot be moved, the more the price will go up as those tokens are unsellable!

In short, the Tron Foundation has done an excellent job with the ecosystem and this is just one of many proposals that show investors the true leadership and vision of Justin Sun and the Super Representatives!

“Article Contributed by KingsDove“

BeFaster.fit’s BFHT Trading Event Kicks Off On LATOKEN As Ecosystem Gushes In Joy

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The current cryptocurrency bull run has brought fresh blood into the ecosystem with developments going on in full swing. In the midst of the price surges, established cryptocurrency organizations like BeFaster.fit was taking full advantage of the momentum.

As 2021 dawned across the world, BeFaster.fit announced details of the native Holder Token trading competition. The BFHT Token contest is set to bring in more customers into the BeFaster.fit roster while being conducted on the trading platform, LATOKEN. 

Reports from BeFaster.fit revealed that the BFHT trading competition will go on from its start date of December 31, 2020, to January 21st, 2021. BeFaster.fit had garnered a lot of attention during last year’s lockdown period when the internet was flush with news about its focus on fitness.

Upon launch, the BFHT token had stirred the cryptocurrency pot as several major players took notice. The special investor token determines the number of tokens ” held in relation to the total token supply”. One of the best parts of the token is that it can be recorded in the blockchain and tracked in the wallet. 

Participants will be required to trade a minimum amount of 5 BFHT tokens during the contest on LATOKEN’s account to become eligible for the contest. Once the competition commences, the Top 10 winners will get a share of a whopping 1000 BFHT token. According to BeFaster.fit and LATOKEN, the token trading volume is calculated as the sum of the number of buys and the number of sells. 

United States citizens would need to wait a bit longer to take part in the contest with plans to launch still being in the discussion stage. Winners of the contest are set to be ranked according to each eligible user’s trading volume. To claim their rewards, winners will have to pass LATOKEN’s native Know-Your-Customer process. This step was taken to ensure total safety and security during the contest.

The Twitterverse has been abuzz about the competition over the past couple of days and officials expect the positive sentiment to only rise. BeFaster.fit executives had earlier stated that the native application will be ready to launch soon, with the latest competition acting as a springboard. Once the BeFaster.fit application is out for public access, customers will be able to take their workout on the decentralized network to the next level.  

Tron Europe Back With a Bang as Company Launches Native Website, More Developments to Follow Soon

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The cryptocurrency market has been flooded with new organizations claiming to provide the best service that caters to user needs. This influx of developments can, in part, be owed to the latest bull run that catapulted cryptocurrency prices to new levels.

Tron Europe, one of the earliest members of the TRX ecosystem made news with updates to an already fledging network. Building on their reputation of routine growth, Tron Europe has decided to launch its native website to give users a better idea of their vision.

The new website of Tron Europe lists all the achievements of the company with a complete breakdown of what is to come. Starting with the company’s Roadmap, Tron Europe assured its users that multiple updates were in the pipeline. Early 2021 is expected to bring a plethora of changes with the first project set to go live in the first quarter.

While Tron Europe has its hands full with the network updates, its native token was doing some heavy lifting too. The analysis shows that the TERC token price tangs from 0.42 TRX to 1.34 TRX with a 100 percent return on investments. According to the roadmap, Tron Europe will start the second cycle of developments by the end of 2021. This new phase will include revamped products coupled with the total expansion of the trading system.

Tron Europe first became popular for being one of the few over-performing Super Representatives with their own limited coin. Users in the Tron ecosystem popularized the platform and the token because of its gripping distribution and rewards systems. The community went further and enabled the rise of conversation around decentralized assets. The Tron Europe community leans towards a couple of cryptocurrencies on their roster which includes: Tercium Force, Lord, Magister, Noble, and Knight.

The TE website further talked about applications such as BeFaster, the organization’s soon-to-arrive fitness application. Initial reports revealed details on the earn while you exercise concept as the organization focussed on the needs of the growing user base. Features such as the TE website makes it easier for new entrants to get into the decentralized market. As time passes, the company has promised a more feature-laden trading environment for all members alike.

CryptoLocally’s Finance Wallet V2 Way to Earn Staking Rewards

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The leading P2P cryptocurrency trading platform, CryptoLocally, announced the launch of version 2 (V2) of its Finance Wallet. The latest upgraded version of their wallet came in addition to the strategic partnership with Idle.

Both platforms have reportedly joined forces with the common vision of a product aimed at paving the way for financial inclusion, by enabling its users to earn more passive income on their crypto holdings than ever before. This major development came after the release of their first decentralized finance [DeFi] feature and Finance wallet V1 back in September of this year.

Finance Wallet V2 Brings Higher Rewards

Taking the first leap to the world of DeFi, CryptoLocally initially released its Finance Wallet in the month of September. Finance Wallet’s first version, powered by Compound, was essentially designed to enable the users on the platform to earn stake rewards on digital assets such as ETH, DAI, USDT, USDC, and its native utility token GIV.

Shortly after which, CryptoLocally added Uniswap’s native UNI token to the Finance Wallet.

The second version of the Finance Wallet was not only powered by Compound but also included names of well-known DeFi protocols such as Aave, Maker, and dY/dX through Idle. With the integration of these DeFi platforms, Finance Wallet V2 makes the popular yield farming easier than ever. Its pros further include not only simplicity but also a higher yield than the first version. The current APY rates can be seen in the pictures attached below:

Finance Wallet Version 1 APY
Finance Wallet V1 interest rates (only powered by Compound )

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Finance Wallet V2 interest rates (powered by Compound, Aave, Maker, and dY/dX)

CryptoLocally being a non-custodial and uses a smart contract escrow aims to offer additional security for its users. With regards to security and transparency on V2, no specific changes have been executed and the users will be able to maintain full control of their crypto assets just like in the previous version.

So what opportunity does the V2 wallet brings to the users?

Finance Wallet V2 is heralded as the best way to earn staking rewards. This is primarily due to the fact that it automatically switches to the best APY of the selected cryptocurrency without any cost. The users just need to register which takes less than two minutes.

While Version 1 of the Finance Wallet gave the users the opportunity to earn staking rewards on those tokens at respectable rates, it was Version 2 that aims to provide better rates than its contemporaries along with additional capabilities.

Another new feature to the Finance Wallet V2 is that users will now be able to see the total value [TVL], in USD, of all assets that are staked on the wallet. It is important to note that if an individual is an existing user of V1 and has staked their crypto on this version, the user will need to unstake on V1 and then retake on V2 in order to use the newer version.

CryptoLocally in Brief:

The main focus of CryptoLocally is to create the easiest and most accessible fiat gateway to DeFi and its tools for the community members. The primary goal is to “empower all people” in a bid to aid them to take control of their financial future.

CryptoLocally also renders the need for a third party useless thus helping the market participants circumvent restriction posed by traditional financial institutions with respect to fees, interest rates among other things.

Bankroll [BNKR/TRX] Price Analysis: Token hits a reef as prices stumble in increasingly bearish climate

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The cryptocurrency market has not just seen the rise and fall of major cryptocurrencies but also that of other nascent tokens. One of the upcoming tokens caught in a lurch right now was Bankroll token, with prices taking a slight tumble during the current bear season.

At the moment, Bankroll was stabilizing to a level that was still leaps above its September marks. The Bankroll community claimed that the number of updates and developments from the organization played a pivotal role in the token scaling price heights.

 

The Bankroll and TRX pairing has been much talked about in the world of virtual assets with the potential to become the face of Web 4.0. Despite the lacklustre performance over the past couple of months, the pairing was now coming into the market strong and confident. Over the past 24-hours, the BNKR/TRX pairing rose by 3.72 percent holding a price of 11.1 TRX. The 24-hour peak for the token was 12.25 TRX while the daily low held at 10.3 TRX.

bnkr

At a time when the 24-hour volume had risen to 7587 BNKR, it makes sense to go through the token’s technical analysis and guage its upcoming patches, if any. The Chaikin Money Flow indicator BNKR displayed a sombre tone for the cryptocurrency as the graph fell below the zero line. This meant that the capital leaving the Bankroll market had overtaken the amount of capital coming in.

The Relative Strength Index for Bankroll had also fallen to the bottom of its respective graph, pointing to an upcoming bearish atmosphere. RSI’s fall to the extremities of the oversold zone further indicated that more people were selling Bankroll tokens than HODLing them.  Supporters of the cryptocurrency were weary but hopeful of the coming market changes. One of the main characteristics that give them hope is the fact that immediate support and resistance had remained unchanged for the past 12 days.

TERC Price Analaysis: Double Digit Growth Enables Cryptocurrency To Leapfrog Its Rivals

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The cryptocurrency market has seen a roller-coaster price movement over the past week and no token has been immune to the phenomenon. Also, cryptocurrencies in the lower rungs have seen changes that are typically unheard of in the virtual asset world.

One of the smaller cryptocurrencies that made a name for itself was the Tron based TERC, which has been on the bullish ramp for the past 24 hours. This performance has reinvigorated the ecosystem while, at the same time, bringing in new investors.

terc trading

At press time, TERC was trading for $0.0175 with a total market cap of $3.58 million. A 16 percent price hike over the previous week had also elevated the daily trading volume to $6469. While the circulating supply maintained above 200 million, fans of the cryptocurrency were expecting another massive surge soon. This positive attitude could also be linked to the number of updates and developments coming out from the TERC holdings.

Technical analysis of the cryptocurrency showed varying degrees of movements over the past week. Looking at the chart, it was pretty evident that the latest climb was making a massive impact on the overall performance of the cryptocurrency, The Bollinger bands had diverged away from each other with the current route expected to generate a large Bollinger cloud. This was the first time since the start of October that the Bollinger cloud had expanded to such a large magnitude.

The Relative Strength Index displayed a really strong performance that lifted the chart closer to the overbought zone. This was a sign that the buying pressure had increased because of more people holding onto their TERC assets. The other indicator that sided with the bull was the Chaikin Money Flow.

According to the CMF, the capital coming into the TERC market had reduced a bit over the past week. Although the graph was still above the zero line, the cryptocurrency would find it good if investors channeled in more towards TERC. Fans of the cryptocurrency need not worry as TERC was on its way to make October its best performing month yet.

Sesamessed [SEED/TRX] Price Analysis: Cryptocurrency Bets on Future Bull Movements as Bear Takes Hold

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The cryptocurrency market has been on a rollercoaster ride over the last few weeks, with price fluctuations having an effect on token rankings as well. During the fluctuations, Tether overtook XRP to become the third-largest cryptocurrency on the charts.

Although larger tokens were struggling to climb, some smaller cryptocurrencies were struggling to make their name in the industry. One of these tokens was Sesameseed, a cryptocurrency that had shot to fame after its tie-up with Tron.

Ever since Sesamesed’s inception, the cryptocurrency has been making waves with its sheer number of updates and developments. According to CoinMarketCap, Sesameseed was one of the few cryptocurrencies maintaining a good price standing. At press time, SEED was trading for $0.03 with a market cap that is known to fluctuate on a weekly basis. A 0.45 percent price drop in the 24-hour spectrum had reduced the daily trading volume to $2057.

Technical analysis of Sesameseed showed that the cryptocurrency was not completely immune to the bear attack. The three indicators chosen to assess the situation were Bollinger bands, the Chaikin Money Flow, and the Relative Strength Index. According to the TA, the price had stagnated over the past couple of days with the bear crunch squeezing the immediate support and resistance.

seed scaled

The Bollinger bands had begun to diverge from each other after converging on Tuesday. The divergence that SEED has been enjoying could be a sign that the cryptocurrency had a chance to escape the bear rut soon. According to the RSI, SEED still had some way to go before it could gun for greener pastures.

The RSI was closer to the oversold zone after suffering a fall in the previous 24-hour timeframe. SEED was near the bottom of the graph because more people were selling the tokens due to a change in investor sentiment. Next, we had the Chaikin Money Flow indicator, which described the capital movement in a particular cryptocurrency ecosystem.

Sesameseed’s CMF had fallen below the zero line after a steady hold above it last week. The drop was a result of the capital leaving the SEED market being more than the capital coming into the market. Some experts in the field claimed that the cryptocurrency might see some positive fluctuations as the week comes to a close.

 

 

Tron Europe Stands Out From Pack as TERCIUM Token Swap Delights Customer Base

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The TERCIUM Universe has been quite active over the past few weeks, with many things written about possible token swaps and their effect on the Tron-Europe ecosystem. Keeping up with this pattern, the reports showed that the team executed all the steps in the background in a discreet manner. On Friday, the 7th of August, Polonidex swapped the TERCIUM-token much to the delight of the entire community.

Sources told TWJ that the method to achieve this was surprising but it had the intended effect of taking a significant step towards a decentralized future. To recall the facts and to make the development progress more clear, here is some small overview of the completed changes:

  • Swap gives TERC decimals
  • Total supply reduced from 10b to 4b → that is a burn of 60%
  • Correct display of circulating supply
  • Voter/holder rewards count beginning with 1000

Besides the aforementioned advantages, the community should be aware of the following points:

  •  The swap for the old tokens begins on Friday 14th, August
  •  Routine tests will be conducted till the 14th to make sure all things work according to plan
  • The token swap will be executed with a wallet (address to be announced), where users can exchange their old tokens for the new ones at a 1:1 ratio
  • Users are assured that they will be able to swap their tokens at the 1:1 ratio during the first half of the year at no loss of worth
  • The old token will exist further so it can be swapped even later but with restrictions.

According to Tron-Europe, the developments have been systematic and consistent with the charted roadmap. TE further stated that due to the swap there have been some uncertainties in the community. To counter the spread of such rumours, the organization has assured the community that:

– nobody can take a user’s coins away without access to your wallet

– most of the displaying statistics of the token are connected to Polonidex, which boosts it‘s delisting exponential

Tron-Europe’s latest statements show the actual benefits of the project and  what users will enjoy post the swap. Apart from the listed features, the TERCIUM era is also set to bring in more features and updates to the table. Some of them include:

  • Buying TERC with credit card
  • New exchanges 
  • Plans to implement TERC into Coinpayment’s net with access to 200000 merchants
  • The BeFaster launch
  • Users being able to enjoy access to the Revolt Beta version

All the points mentioned above provide a nice view of, where the path can lead to. The TERCIUM – Force is also set to grow into a stronghold that seeks its own kind. As the cryptocurrency market, ebbs and flows with time, companies like Tron-Europe have steadfastly stuck to their winning formula. With the advent of TERCIUM right around the corner, the trading community as well as the developer community are waiting with bated breath to see the bright future ahead.

 

Tron Europe Continues Global Push as Rewards System Put Under the Spotlight Again

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The cryptocurrency ecosystem has witnessed constant developments, and the most dedicated players in the field are doing everything in their power to make it big. Obstacles like massive sell-offs and coronavirus spread have not stopped multiple updates in the cryptoverse, a sign that things are changing for the better.

 One of the most prominent organizations in the digital asset world is Tron Europe, which has been making waves since its inception. By creating reward methods that benefit users and by partnering with other growing enterprises in the Tron ecosystem, the company has been growing at a fast pace.

Tron Europe’s main focus has always been on building a self-sufficient cryptocurrency ecosystem that can usher in the fabled ‘Web 4.0’.The organization also held a competition at the beginning of this year, in which participants were asked to describe the Tron Europe, reward model. Tron Europe is also a super-representative of Tron, giving it even more power to support the growth of a growing industry.

The company’s focus on its customers has been a celebrated fact and if you ask Tron Europe, it is a characteristic that they would love to maintain. As a SuperRepresentative, Tron Europe pays its own TERC token instead of TRX for its voters. For the time being, the total calculated value for TERC is 30 percent of that of the original token., To make it more interesting for the holders, Tron Europe also pays Holder Rewards that can go up to a whopping 250 percent. 

According to the company officials, the reward system was created so that more people could contribute meaningfully to the Tron sector, Tron Europe has embraced this idea by building its own Token economy and creating native dapps. Speaking to TWJ, Tron Europe admitted that a good cryptocurrency product needs to have proper use cases and not just be useful for trading. `

Users need not fret about getting their profits as Tron Europe has assured everyone that all payouts will be paid out in TERC. This holistic approach would act as the mainstay for the ecosystem, thereby creating a strong tie between the organization as well as the token holders. By creating a step by step process for its token holders, Tron Europe successfully functions as a Super Representative by putting the onus on creating value for its native products. This has been the main attraction for the new customers entering the field. 

Officials from Tron Europe have confirmed that there are several projects in the pipeline which are expected to change the cryptocurrency game. Applications like BeFaster, TESD, GoT: The Revolt, Aftermath Islands and DVM are all expected to make waves in an industry requiring a legitimate foundation for growth. 

Tron Europe also elaborated on its latest implementation: the TERCium-Force. Under this, all the million-plus TERC holders will become eligible to join the bonus yearly reward and the special VIP room.  The organization had recently tweeted:

“Everybody wants to get the highest rewards for his votes. So tell me are you getting the highest rewards possible? Vote Tron-Europe! Because Tron-Europe has the highest voter rewards and gives TERC-holder rewards on top. It’s a fact.”

Tron Europe informed all its users that future developments would bring in more rewards to the ecosystem that will in turn result in more growth. It is now up to us and the community as a whole to see what comes next and then uses it to contribute significantly to the cryptoverse.

CityUpTake Sets Course for a More Inclusive Tron Ecosystem While Rewarding it Users for Sharing the Dream

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The cryptocurrency industry provides a lot of opportunities for those who are seeking for it. Since the launch of Bitcoin and the gradual increase in popularity of the virtual asset market, several organizations have emerged as stalwarts of space.

One such entity has been Cityuptake, a popular platform to increase user rewards on the blockchain. In order to rope more users and create an inclusive ecosystem, the company also offers CITYUPTAKE tokens that will result in more residual rewards. Being part of the Tron Super Representative program has also been a massive boost to Cityuptake and its users.

The Cityuptake token functions as a basic utility token that opens doors to goods, services, and the content of its parent company. This token also provides access to the Cityuptake trade desk and weekly rewards program, features that are celebrated by the community. An analysis of the CityUptake SR Portfolio vote allocation was evidence that it had a healthy vote allocation from other Tron Super Representatives. These Super Representatives were mainly TronSociety, TronWallet, SesameSeed, CryptoGuyin ZA, CrtyptoChain, and Tronspark. 

It is well known that cryptocurrency regulations have been one of the major deterrents in the industry. Major institutions have frankly admitted that, because of the regulatory confusion behind the scenes, they can not jump into the crypto bandwagon.

To put these fears to rest, Cityuptake strives to ensure that the company and the token meet all forms of regulatory testing. CITYUPTAKE tokens can only be used and accessed by those customers who have completed the KYC process set by the company. Cityuptake also reserves the right to withhold assets from customers if found to be in breach of the rules proposed in the U.S. tax treaties and the Member countries.

 At the moment, the Cityuptake trade desk is worth over 13 million TRX. Apart from Justin Sun founded cryptocurrency, Cityuptake’s trade desk also deals with Bitcoin, XRP, and Cardano. 

The perks of holding CU

Traders are usually on the fence with some tokens because of a lack of value guarantee. With CU, that layer of concern has been removed. Each CU token is equivalent to 1.35 TRX where 1 TRX gets allocation to the SR portfolio. At the same time, 0.25 TRX gets allocation to the CU trade desk while 0.1 TRX is distributed as project fees. Cityuptake has made it clear that the performance of the token would always be tied with the native trade desk. This dispels any notion of fraudulent activities or scams that have been circulating in the industry as all CU is redeemable for 1 TRX at any time.

How to get started:

Just like in other processes, holders need to have completed their KYC forms before they can get involved in the CU trading ecosystem. Cityuptake makes use of an agent model across its platform, where the agents themselves have undergone all KYC checks. According to the organization’s official release:

“To purchase CU, one simply sends TRX to an automated exchange of the agent of their choice, and CITYUPTAKE tokens are returned.” 

Cityuptake caters to both US citizens as well as non-US citizens with each category having to fill out theW-9 and W-8BEN respectively. Upon the completion of the aforementioned steps, users can hold CU tokens in any Tron wallet which then leads to weekly reward drops. 

Cityuptake’s inclusivity policy:

The company has reassured users that each and every one of them will be treated equally on the blockchain reward system, regardless of when they join. This ensures that the prices of the CU remain constant at 1.35 TRX, with 0.25 always going in for trade desk fees.

Cityuptake ‘s progress in blockchain and cryptocurrency has been buoyed by the participation of its loyal customers. As time progresses, the company has promised its members that it will add additional tokens to their dashboard. This will then help other Tron based companies to grow and flourish, creating an intricate and flourish Tron network. Speaking to TWJ, a Cityuptake official stated:

“We are excited to build out our token tracking system to give our account holders the opportunity to easily see not only the rewards from holding Cityuptake but also the rewards from various SRs for whom they have voted like Tronwallet or TronSpark.”