TRON Foundation Discusses Blockchain with Binance Labs’ Director
In a recent tweet by TRON Foundation, the foundation talked about the meeting that it recently had with the Director of Binance Labs.
Great meeting with Director of @binancelabs, discussing #blockchain and what blockchain companies can do to further move #crypto innovation forward in the future! Stay tuned pic.twitter.com/6u5LfLytyJ
— TRON Foundation (@Tronfoundation) October 3, 2018
The foundation said that the discussion was about blockchain and what blockchain companies can do to move the crypto innovation further in the future.
TronWatch.Market, the intuitive yet fully-featured Decentralized Exchange (DEX) which allows users to trade between TRON, TRX10, and TRX20 Tokens in a secure, decentralized manner, has seen 13,740,000 SEED worth of investment on SEEDGerminator, the seeding platform developed by the TRON Super Representative Sesameseed.
The official Medium blog talks about the trading fees on the platform:
“We’ll be creating a not-for-profit contract anyone can use to buy and sell TWM tokens. This contract will automatically adjust price based on the current supply and demand. Our DEX will use this contract to exchange all trading fees collected in TRX for TWM tokens at the time trades are placed.
The value of this approach is that it drives volume for the TWM token. The TronWatch team and its affiliates will receive much of their compensation in TWM, and will need to trade that in the future. Arbitrage traders will purchase TWM (from our exchange or others) to sell back to the contract in order to keep the price stable.”
For listing fees, here’s the available information:
“Every token on the TRON network may be traded on our DEX. There is no whitelist or approval required — it just works. In fact, we could not block a token from being traded, as we will be using decentralized and immutable smart contracts. However, there will be too many to show a list of every option for users to choose from. To address this, we charge a listing fee, paid in TWM tokens.”
Adding to that, the blog continues and says:
“Listing a token costs 150,000 TWM. 50% of the listing fee is burned, reducing the total TWM circulating supply.
Token creators, including ICOs and Dapps, will want their tokens listed to help ensure adequate liquidity is available. This also creates demand for the TWM token and continuously burns TWM tokens, reducing the circulating supply.”
For staking TWM to feature a token on the DEX, here’s what the blog has to say:
“Our DEX will feature a few tokens on our DEX. This gives those tokens a prominent position so users take notice, perhaps visit the website for more information, and then consider a trade. Anyone can stake their TWM tokens to place a vote for which token should be featured. Staking does not cost users anything; it simply freezes the tokens until the user requests the tokens be returned. The token with the most votes ATM will have 0 trading fees for all users.
We believe this may be an attractive option for recent ICOs and token holders looking to get their name out there to grow their community, helping them build up liquidity so that future traders feel more comfortable considering their token. This gives groups reason to acquire TWM tokens and will temporarily take them out of circulation.”
TRON has been seeing a lot of development lately, thanks to its active community. The community has come up with brilliant solutions based on the TRON network to solve some of the biggest problems faced by the crypto community at large. Not only have they been coming up with solutions, but also with support for the solutions given by the fellow members of the community.
With a community such as that the platform possesses, it would be no surprise if TRX rises in value considerably in the upcoming time.