TRON-based Seedit Records Total Transactions of 25 Million TRX
Tron News

TRON-based Seedit Records Total Transactions of 25 Million TRX

Seedit, the easy to use payment system based on the TRON network recently tweeted that it has hit the 25 million TRX mark for the total transactions made using the system.

It isn’t surprising that it managed to gain such great numbers since the TRON community has been very active in bringing the best forward. The community has helped a lot in the adoption of the cryptocurrency in the market.

Seedit has been used extensively for the adoption of the cryptocurrency in the market and has been in the news for the same.

Also Read: TRON Foundation Discusses Blockchain with Binance Labs’ Director

Another recent innovation on the network, SEEDGerminator recently saw TronWatch.Market pass the soft cap and chase after the hard cap. It is an intuitive yet fully-featured Decentralized Exchange (DEX) which allows users to trade between TRON, TRX10, and TRX20 Tokens in a secure, decentralized manner.

The official Medium blog about the platform talks briefly 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.”

About listing fees, here’s what the blog had to say:

“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 what it had said, the blog said:

“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.”

Thinking about staking TWM to feature a token on the DEX? Read what the blog has to say about it before you go ahead and do so:

“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.”

The TRON community has been a driving force behind the widespread adoption of the cryptocurrency. It wouldn’t be surprising to see a bright future for the cryptocurrency!

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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.