Tron (TRX) Main Net Updates – Are You Ready?

The Tron (TRX) main net launch is just weeks away.

The Tron team has made a concerted effort to inform its investors of the migration of its token to its platform. Which is a night and day difference from what the EOS team has provided. Both coins are ERC20 tokens and will be migrating from the Ethereum blockchain to their own in June. Immediately when you enter the main Tron website there is a notice that pops up, and it reads:

“Dear investors, TRON Mainnet is launching soon. Token migration from ERC20 TRX to Mainnet TRX will occur between June 21st – June 25th (GMT+8). If your TRX is held on an exchange, no action is required. If your TRX is held in a wallet, you must deposit your TRX to an exchange before June 24, 2018 to avoid any losses. From June 21st– 25th, TRX withdrawals on exchanges will be suspended. On June 25th, both TRX deposits and withdraws on exchanges will be suspended. Deposits and withdraws will resume on June 26th. During this period, TRX trading will not be affected. If your TRX is held in a wallet and you were not aware of the migration notice, or saw the migration notice after June 25th, please visit our permanent token-exchange counter to exchange your tokens for Mainnet TRX.”

This is great news for TRX holders as minimal effort is required on your part. Remember, if you don’t move over your TRX from your wallets to exchanges in this time frame your ERC20 TRX tokens will be frozen and useless after the swap.

>> Tron Super Election

Binance Announcement

Yesterday, Binance made the announcement that they will support the TRX main net token swap. This is huge news as Binance is a top exchange used by Tron enthusiasts.

Thanks for the support to #TRON #TRX $TRX 😃 https://t.co/WoZuw2GW7N

— Justin Sun (@justinsuntron) May 9, 2018

The other main exchanges OKEx, UpBit, and Bitthumb have yet to make announcements about supporting the token swap. I anticipate these announcements to be dripped out in the days to come, as Binance is the larger exchange out of the group and they will follow suit.

Bibox and Gate.io are the only other exchanges pledged to support the migration, but there is still plenty of time for others to get on board.

Founder Backlash

With any big moves within a project, there is always some backlash and unhappy people. A Twitter user by the name of Damon Boys is unhappy with the cost of withdrawing TRX and responded to Justin Sun’s tweet by saying:

Only problem is it’s gonna cost us 300-400 TRX to withdraw!!!

— Damon Boyd (@damon17b) May 9, 2018

Also, Mr. Sun’s latest tweet about the Tron Fundraising Project received copious amounts of backlash as he ironed out the rules of the submissions.

#TRON does not accept any project fundraising requests in the form of a white paper or slide deck. Projects must have a MVP. Product will always be more convincing than flashy endorsements. Please attach product link/program installation package with your submission. $TRX

— Justin Sun (@justinsuntron) May 9, 2018

I definitely think he had these comments coming, as Tron had been an idea for nearly nine months after raising millions of dollars in its ICO. Just my opinion though.

the irony

— jam raj (@jamraj1) May 9, 2018

Live TRX as a currency. But really dude? Did you just tweet “this?” Hi pot, I’m kettle.

— James Tylee (@OfficialJTylee) May 9, 2018

At press time, TRX is trading at $0.0816 a coin, down -0.10%, in 24 hours.

Are you ready for the main net launch? When are you planning on moving over your TRX to an exchange? Leave your thoughts below!

Disclaimer: I currently hold a small amount of TRX.

Featured Image: CryptoNet

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