On February 3, 2020, several Tron fans took to Twitter to express their negative attitude towards Tron Founder, Justin Sun, for what they believe to be a deception of the Tron community. This is after the total TRX supply surpassed the 100 billion cap that was cited in Tron’s white paper.
The CCO of BeatzCoin, Misha Lederman, was among the first to react to the news that the total TRX supply had exceeded the 1 billion cap Justin set in late June 2018.
The hard cap was supposed to keep the TRX supply below 100 billion, and Lederman is now calling for Justin Sun to conduct another token burn so as to limit TRX total supply.
However, in a rebuttal, Justin Sun responded to Tron’s hard cap by claiming that the TRON’s network is not governed by the CEO nor TRON Foundation; TRX holders selected the TRON committee and the TRON committee made all the decisions.
He argued that since Super Representatives’ rewards were implemented, more TRX began getting minted, which has now resulted in the supply increase.
Sun added that the Tron Community should continue voting for Super Representative, and create the TRON network they want.
This comes just a few days after some in the Tron community criticized Sun for using the tragic incidents like coronavirus and Kobe Bryant’s death to promote his currency and upcoming niTRon summit.
TRX Increase Decided By The Community
According to Tron CEO Sun, the original TRX issuance of 100 billion TRX is the only resolution made by his company.
The rest of the resolutions, including delegated proof of stake (DPOS) and the increase of the voting and block rewards, are made by the committee of Super Representatives. These are decisions 100% made by the community.
The Tron founder argues that TRON Foundation did indeed give an estimation that the TRON cap will not surpass 100 billion TRX before 2021.
However, the TRON committee comprised 27 Super Representatives (SRs) who can vote to adjust the reward structure, and they did just that on November 2, 2019, bypassing the 27th proposal.
The proposal aimed to ‘modify SR block generation rewards to 16 TRX and to modify the block voting rewards given to the top 27 SRs and the following 100 partners to 160 TRX.’
TRON Rewards Were Increased To Incentivize Community
TRON rewards were increased to incentivize more people to become Super Representatives and partners and participate in the voting and staking in TRON’s network. 90% of the rewards go to the TRX staking holders.
Since the community decision, TRON’s estimated total rewards are 1.85 billion TRX per year.