TRC10 Token Name to be Repeatable Soon
Tron News

TRC10 Token Name to be Repeatable Soon

In a recent tweet, TRON Foundation announced that soon, TRC10 token would be repeatable.

The “Allow Same Token Name” is currently being reviewed by the Super Representatives and is expected to be passed on January 5, 2019 at 6:00 AM.

Also Read: TRON-based TronWallet Reaches Soft Cap

According to the official Medium article pertaining to the announcement:

“The proposal “Allow Same Token Name” is currently under review by super representatives and will likely pass on Jan 5, 2019 at 6:00:00 AM UTC. The effect of this proposal is significant and will effect all community members utilizing TRC10 (basic) tokens, (i.e. IGG, SEED, TWX, TronWatchMarket, etc.). From this point on TRC10 tokens will be allowed to be created with the same token names as currently existing tokens.”

Later in the article, the team said:

“Developers are currently working to update applications, trading platforms and wallets to ensure as smooth a transition as possible. We ask that community members take the time to understand that TOKEN ID will now be the proper identifier for all tokens. Developers are taking all necessary steps to update DApps to utilize this new identifier, please enquire with each application developer should you have any questions on their incorporation of this new standard.”

Recently, TronWallet, the TRON-based digital currency wallet, hit its soft cap. On its SEEDGerminator page, TronWallet introduced itself as:

“TronWallet is a secure peer-to-peer crypto wallet and exchange for TRON. Send, receive, pay, request payments, vote and participate on a new decentralized world.”

Talking about the full plan, the team said:

“On TronWallet, users are able to securely store and exchange crypto directly on the blockchains.
Today, we’re excited to announce the TronWallet – TWX Token Sale. TWX is a token hub. TRON Token holders can swap tokens using the TWX as proxy token and liquidity pool, it will allow users to instantly purchase tokens directly through a smart contract.
We believe great projects are ideated, created and executed by great people. In order to reap the full potential of TronWallet, today we are joining a team of the brightest and nicest people in the TRON ecosystem: Sesameseed and the SEEDGerminator.”

Moving on to the soft cap, the team said:

“TronWallet.me will utilize the softcap funds generated through SEEDGerminator to introduce both Ethereum and Bitcoin Atomic swaps to the TWX ecosystem. The addition of a simple, effective in wallet exchange to ETH and BTC will greatly improve the versatility of the Tron ecosystem, creating yet another way for the community to interact with TRX.”

Talking about the hard cap, the team said:

“The hardcap target of TronWallet.me will be utilized to build a featured web and desktop versions of the popular application, complete with ledger support.”

Coming to the rewards plan, the team said:

“TronWallet.me has established a 5,000,000 TRX minimum funding target to continue the development of their Wallet, P2P exchange platform, incorporating Atomic swaps with ETH and BTC. Upon meeting the hardcap and Ledger supported Desktop wallet will also be prioritized, incorporating TronWallet features.
During this funding round the SEEDGerminator platform will offer an exclusive 0.6 TRX per TWX token for the duration of the listing. During this time SEED token will be accepted at a 0.125 SEED per TWX rate.”

Adding to it, the team said:

“The distribution of TWX shall take place 24 hours after 00:00 UTC on the day this funding round closes. Only whole amounts of TWX will be distributed and all remaining fractions of TRX will be returned to their originating address.
In addition to community contributions, the SEEDGerminator itself will contribute 200,000 SEED from the SEEDGerminator development fund. These funds will be contributed from the SEEDGerminator development fund, upon meeting the softcap. 1,000,000 additional TWX will be provided to SEEDGerminator to airdrop to the SEED community in proportion to SEED held on 00:00 UTC the day funding closes.”

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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.
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