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Tron Foundation announces $20 million TRX buy-back plan to promote community activity, market stability

Biraajmaan Tamuly



Tron Foundation announces a $20 million TRX Buy-back Plan; indicated to minimize market liquidity
Source: Pixabay

Over the years, the cryptocurrency ecosystem has achieved significant stature in the economic industry. The space presently is highly competitive, with several virtual assets battling to attain higher adoption rates with crypto-users.

Justin Sun’s Tron has been one of the most involved cryptocurrencies in the space over the last few months as the token continued to improve its valuation and release developments within the Tron network. The token also re-entered the top 10 list, overtaking Cardano in the process. However, Tron wasn’t done yet as following the recent surge, the Tron foundation released another major announcement.

TRON revealed its plans to launch a $20 million TRX Buy-back Plan and 2020 TRX holding Plan in order to improve the growth of the ecosystem and increase the involvement of more users.

The post stated that the Foundation had decided on the new initiative to “promote community activity” and enhance the token’s market stability. The Foundation will be conducting the largest TRX buy-back plan, which will last more than a year and will be overseen in several batches, amounting to a value of over $20 million.

The other TRX holding of the Tron Foundation will be unlocked on the 1st January, 2020. It stated,

“The Foundation will continue to increase our TRX holding in the secondary market to manifest our confidence in the development of the TRON ecosystem.”

The Foundation indicated that the main objective behind the TRX buy-back plan was to minimize the current market liquidity associated with the TRX token. The Foundation also wants to boost activity in the community and further solidify users’ trust in the system.

Additionally, it was also reported that the TRX token would be officially unveiled on FCoin Main Board on its mainnet anniversary. The TRX/USDT trading pair will be active on the FCoin Main Board at 0:00 [GMT +8,] on June 26, 2019.

The community’s continuous plan to put development before all else should diversify its user base and assist the Justin Sun backed-crypto to further solidify itself as a mainstream virtual asset.

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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.