By Solomon Odunayo
As a report has it, Tron (TRX) is now available for staking on Bitfinex, one of the leading cryptocurrency exchanges. And another report has it that the exchange has become Tron’s super representative.
The new development was shared by the founder and CEO of Tron (TRX), Justin Sun, a couple of hours ago, via his official Twitter handle.
According to the update, estimated annually staking rewards on the trading platform is between 6% and 8%. The soft-staking program made available by the exchange allows its users to generate rewards easily and securely by holding the digital token TRX on the crypto exchange.
“TRX is now available for Staking on Bitfinex! Estimated annual staking rewards are 6%-8%. Bitfinex soft-staking program allows users to easily & securely generate rewards by simply holding digital tokens on Bitfinex. Learn more & started TRX Staking at staking.bitfinex.com,” Justin Sun reported.
#TRX is now available for Staking on @bitfinex! Estimated annual staking rewards are 6%-8%. Bitfinex soft-staking program allows users to easily & securely generate rewards by simply holding digital tokens on Bitfinex. Learn more & started $TRX Staking at https://t.co/KfIaohasG9 pic.twitter.com/E0tPvTmepl
— Justin Sun 🅣🌞 (@justinsuntron) May 7, 2020
Bitfinex Becomes Tron’s Super Representative
In another development, as reported by Justin Sun, Bitfinex cryptocurrency exchange has become Tron’s Super Representative (SR).
The report stated that the exchange participated in the election for super representatives of TRON, which makes Bitfinex an official SR of Tron (TRX). According to Justin Sun, the Tron super representative mechanism effectively avoids data monopoly, protects user privacy, and eliminates unnecessary leakage of data.
Justin Sun shared this, “A big congratulation to our new TRON SR Bitfinex. The TRON super representative mechanism effectively avoids data monopoly. It protects user privacy and eliminates data leakage etc.”
Tron (TRX) and Other Cryptocurrencies in the Market
Over the past hours, virtually all the top 20 cryptocurrencies, including Bitcoin (BTC) and Tron (TRX) have maintained their accumulated prices without notable gains or losses.
At the moment, the digital token TRX occupies the 14th position, with a $1,069,974,819 market cap. At the time of writing, TRX is trading at $0.016046, with a 0.73% price downtrend in the last 24 hours.
A big congratulation to our new #TRONSR @bitfinex👏👏👏
The #TRON super representative mechanism effectively avoids data monopoly. It protects user privacy and eliminates data leakage etc.
Check out https://t.co/VxhQhE7giQ for all the details! #TRX $TRX pic.twitter.com/vJyzXIsNw5
— Justin Sun 🅣🌞 (@justinsuntron) May 7, 2020