By Solomon Odunayo
The founder and CEO of Tron, Justin Sun has just hinted that the Tron community is working on a new decentralized stablecoin that will be backed by TRX and BTT.
The ever business ready founder of Tron shared the info via his Twitter handle a couple of hours ago. In the tweet, he asked his teeming followers to suggest a better name for the underway stablecoin, which has since been greeted with over 900 reactions.
He said, “TRON community will launch a new decentralized stablecoin backed by TRX & BTT. What’s the best name for this stablecoin?”
The eventual launch of the underway stablecoin will only complement a lot of in-house developments that have surfaced over the year in the Tron ecosystem.
#TRON community will launch a new decentralized stablecoin backed by $TRX & $BTT. What's the best name for this stablecoin?
— Justin Sun 🅣🌞 (@justinsuntron) January 16, 2020
50 Million TRX Duly Distributed to the Deserving SRs
According to the update shared by Justin Sun on 16th January 2020, the well-publicized 50 million TRX giveaway specially made for the best 20 Super Representatives (SRs) within the Tron community has been successfully distributed to the top 20 and deserving Tron SRs.
The qualification for the incentives was based on the overall performance of each of the Tron Super Representatives (SRs). And it will serve as a means to appreciate and encourage the ever-active SRs for more outstanding performances. The incentive giveaway was launched by Tron sometimes in November 2019.
Conclusively, Tron Foundation implored organizations, institutions, and individuals to join the Tron ecosystem as super representatives to conjoin in building the TRON community and further promoting the development of TRON.
Tron (TRX) and BitTorrent (BTT) in the Market
At press time, Tron (TRX) is occupying 10th position according to CoinMarketCap, drawing closer to the possible fulfillment of the prediction of Tron CEO Justin Sun regarding the possibility of TRX making the top 4 before the end of 2020.
At the time of filing this report, TRX is trading at $0.017180, with a 3.05% price uptrend in the last 24 hours. BitTorrent (BTT) also joined the price rally that played out some hours ago to recover a bit from the past losses it had recorded.