Bitfinex Announces TRON Token Migration Support
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Bitfinex Announces TRON Token Migration Support

On its official blog, Bitfinex announced on 30th April that it would be migrating ERC-20 TRX tokens to TRON’s public blockchain since the TRON team would be launching their Mainnet blockchain.

The ERC-20 migration would begin on 21st June UTC+08:00, and due to the migration, all TRX withdrawals between 21st June and 24th June would be suspended from Bitfinex. All withdrawals and deposits would be suspended on June 25th. Everything would come back to normal on 26th June. Meanwhile, throughout the migration phase, trading TRX would continue going on and would not be affected by the migration.

Bitfinex would be helping the TRX token holders with their queries regarding the migration. In Bitfinex’s notice on their official blog, the cryptocurrency trading platform said:

Bitfinex will provide full support for all TRX token holders and any tasks associated with the TRX migration will be handled automatically by the Bitfinex team to ensure a smooth migration. All users will receive TRX tokens in equal proportion to their ERC20 TRX holdings.

TRON had earlier informed users on its official Medium blog that it would be leaving the Ethereum based ERC-20 platform to switch to its own platform. The cryptocurrency would now have its own Mainnet which would be independent of Ethereum. In the blog, the team said:

For the reason that Tron’s public blockchain main net will be launched shortly, the migration from ERC20 tokens to TRX, the cryptocurrency on Tron’s public blockchain, will begin on June 21, 2018(GMT+8). We highly recommend exchange that all transactions be frozen from June 22 to June 23. After June 24, ERC20 will no longer be valid for transactions, for we will only support transactions with TRX on the public blockchain.

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.