TRON-based TronWallet Announces Fee Model
Tron News

TRON-based TronWallet Announces Fee Model

In a recent Medium article, the TRON-based digital wallet, TronWallet announced its Fee Model to its users.

Fee Model TronWallet

There is an upcoming TronWallet release, the details of which are currently being finalized. This new update would be featuring the new TronWallet DEX.

Also Read: TRON Gets Binance Info Gold Label

As the team puts it:

“As we finalize details of the coming TronWallet release which will feature the new TronWallet DEX and prepare for launch, the moment has come to unveil the fee model and structure for the different features and actions our users can perform to have full power over their tokens on the TRON blockchain.”

Adding to it:

“We believe this approach to Fees for TronWallet will help not only keep development and continuous improvement of the TronWallet Platform of products and services but also support and add value to the TWX token and its expanding ecosystem. We will review constantly this fee model and modify as needed, informing our users and overall community in due time.”

For those of you who don’t know about TronWallet, here’s how the team introduces itself:

“TronWallet is a secure p2p crypto wallet and exchange for TRON users.
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 mobile interface.”

It hasn’t been long since TronWallet has been made a Super Representative. Thanking people for their support, the team said:

“Becoming SR wouldn’t be possible without a strong community around to help, particularly without the help of the great people and our SR friends at CryptoChain, CryptoGuyInZA, TeamTronics and Sesameseed. Thank you for your support, let’s make history together!”

In an official Medium article, the team said:

“TronWallet started it’s run for SR on September 20, and, since then we have been learning a lot. Becoming a TRON Super Representative will be a step forward for TronWallet global adoption. To create a healthy ecosystem for our users and the TRON Network, the TronWallet Team will invest to build cutting-edge products to extract the full potential of TRON blockchain technology.”

The team then gives some insights to the readers:

1. People vote for rewards, not necessarily for the better proposals
2. Setup servers with private keys require important security measures
3. Create secure and custom rewards scripts take time. Big thanks to https://twitter.com/_CryptoChain_
4. Becoming SR is a huge responsibility and opportunity to create a unique community around of a new decentralized world.

The team then talks about how its previous attempt to become a Super Representative failed before moving on to informing everyone about the new plan:

“With several ideas from TronWallet community and after some scenarios of rewards have been tested, We have decided to change our reward plan to the following structure.
1. We will pay 97% of rewards from SR block generation
2. All rewards are paid in TRX
3. 3% is allocated for operation costs”

Adding to it:

“SR’ are paying in average 16-17 TRX per day (24 hours) for 100k TRX votes. TronWallet SR will pay ~32 TRX per 100k TRX votes until January 01 2019.”

Talking about the future, the team said:

“We strong believe that TWX should be reward for holders and voters in a near future and our team is working hard to make it happen as we go.”

The wallet has seen a great deal of growth recently. It hit the 200,000 users mark long ago and is now eyeing other targets. Projects like these are driving the TRON network to new records breaking the previous ones. A lot has been accomplished by the network due to the DApps built on it.

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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.