“Steps Up and Forward,” a slogan recently being placed next to the Tron Weekly Journal’s official logo in the mining updates, does not only presents a signature of the project’s resiliency but also serves as a start of new chapters and new milestones for TWJ, especially for the community.
Part of this new chapter is the revision of the existing reward system of our mining. Throughout the first seven weeks of the program, we have been observing its current structure and gathering feedback from the community.
It is to make sure the investors’ and the community’s interest to the token are being taken care of, and fair opportunities are being exercised for everyone. We have come up with a new program for mining so let’s go and know what has changed starting May 9th SGT.
- There will be no base reward pool. No reward caps
By removing the base reward pool and removing the limitations on it, the community can now mine with more freedom and as much as they can. Before, we have actually set a limit to the max reward that can be given per week and it was 1 million TWJ. Although that amount was only reached this past week, mining without that restriction will still be significant.
- Mining will now be a pure point-based program
Unlike before where the rewards depend on the percentage of your contribution to the reward pool, TWJ Mining will now rely totally on the points you will accumulate every week. In this new structure, the participants will get TWJ in a ratio of 100 points = 10 TWJ (minus the 3% CTP, to be explained below)
- Creation and Launch of the CTP
The CTP (Contribution to the Pool) will be a fund where its 85% of it will be transferred to an address and will be burned every month (reducing total supply), and the remaining 15% will be used for TRON’s in-network fees in sending the rewards. Each participant will be automatically contributing 3% of their weekly prizes to the CTP. All TWJ amount that will be collected for the monthly token burn can be viewed through the TRON wallet address provided below:
So you might have a question here. Why are we going to burn some TWJ tokens monthly? That has something to do with supply and demand. We consider and protect the collective interest in the token’s economy, and part of that is to reduce the maximum quantity. The other end, the demand, is connected to the additional necessary functionality of TWJ which is to be announced to the public very soon.
This change to the mining program will ensure that everyone gets a fair chance of the getting the most rewards and a reasonable opportunity to contribute to the growth not only of the mining but also the overall TWJ community.
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