According to reports, the TRON (TRX) Foundation has announced that it has launched another community program called the $20k Incentive Plan. The initiative will keep crypto enthusiasts busy. TRON’s (TRX) new plan is the latest endeavor that the network has come up to expand its ever-growing list of community engagement initiatives.
What is TRON’s (TRX) New $20k Incentive Plan About?
TRON (TRX) is arguably a digital currency that ensures that its community is busy at all times. The network has already organized several programs in the past some of which include the bug bounty program, programming contest, and the coreTronicss call-up. Much like it’s past attempts, TRON’s (TRX) $20k Incentive Plan, is built not just to keep the network’s community engaged, but to help them make a collaborative effort in the token’s space.
The plan is designed to deliver a reward of 20,000 USD to Initiatives similar to TRON’s (TRX) blockchain wallets and browsers. This will ensure that the community remains engaged with the progress made by the network, while their efforts will help the virtual asset ecosystem. The project will be instantly rewarded. Developers just to for the network’s technical committee to pass it.
The result of the initiative means that TRON (TRX) aims to enhance its MainNet and enhance user experience for other users. As reported by the TRON (TRX) foundation, giving the rewards instantly will likely inspire more developers to become a part of the new program, instead of providing “loans” as was the case during “TRON’s (TRX) Acceleration Loan” initiative. This time around, developers will get the inspiration to create new and improved products as quickly as possible.
The Token Lockdown Begins Now
Another event that TRON (TRX) is looking at is its token migration. The network revealed that the time has finally come. The movement is set to begin in a few hours when tokens will enter lockdown after crypto exchanges have closed their wallets. The actual change will take place on June 24.
Here is the Official announcement of Initiation of TRON’s $20K Incentive Plan:
“TRON’s Independence Day and the official launch of the mainnet is upon us! In addition, TRON has officially initiated the $20k Incentive Plan to promote the rapid development of TRON’s community, the engagement of Tronics, as well as the collaborative effort in building a thriving ecosystem.
This plan offers a $20,000 reward to projects similar to TRON’s current outstanding wallets and blockchain browsers. Its purpose is to reward the contributions made by participants to TRON’s global ecosystem and for providing funds for subsequent R&D.
Once a project passes the evaluation by TRON’s product technology committee, it will be granted the reward immediately and unconditionally. TRON hopes this project will enhance the ecosystem of the mainnet, provide better user experience for Tronics, and eventually create a powerful ecosystem for TRON’s developers.
Different from the TRON Accelerator Loan, which is in the form of an 18-month interest-free convertible bond, the Incentive Plan will be in the form of a direct reward. This will eliminate the tedious borrowing process of TRON Accelerator Loan and the subsequent cost for maintaining/improving the product. As a result, more outstanding products can be produced at a faster pace and the original concept of “accelerating innovation and development” will be better realized. With the official initiation of TRON’s $20k Incentive Plan, TRON Accelerator Loan will be discontinued after serving its purpose.
TRON has been leading the community with an open mind. We have committed ourselves to building a strong decentralized network and hope that more developers can join our thriving ecosystem.
Thank you for your continued support for TRON!
TRON Foundation
June 15th, 2018”
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
