Steemit Update [Oct 13th, 2022]: TRON & Steemit Integration Project Update
The TRON & Steemit Integration Project has received extensive attention and immense support from the Steemit community, since its launch in December 2020.
The integration of TRX has brought a unique advantage to the Steemit platform and the Steem ecosystem, while allowing Steemit users to join the TRON ecosystem, and bringing diversity to the Steem ecosystem.
As of September 2022, a total of 23 Million TRX (worth ~$1.4 Million) have been invested into the Steemit Ecosystem. The number of new Steemit users has grown significantly since the launch of the TRX Integration Project. Compared to pre-launch, there is a 68% increase in the monthly average of new Steemit accounts.
The TRON & Steemit Integration Project has injected vitality into the Steemit ecosystem and opened up new opportunities for community engagement. The project has introduced profit and resources that facilitate the sustainable development of the Steemit ecosystem.
It is commonly seen among communities to use TRX as reward in contests and other activities. The project has diversified the usage scenarios of the TRX Token, and in turn enriched Steemit community activities. This is a unique feature of Steemit that competing platforms currently lack.
Steemit Inc. and the TRON DAO constantly seek new directions for development, with the goal to distribute TRX rewards more efficiently and help Steemit communities and users with active engagement prosper.
As new initiatives like the Steemit Development Incentive Program are now being introduced, Steemit, Inc. and TRON DAO will be making an adjustment to the amount of TRX given out in post rewards.
From October 15th, TRX will be distributed in direct proportion to the amount of Steem Power earned at the ratio of 1 Steem Power : 0.5 TRX.
Meanwhile, we encourage the Steemit community to share new ideas to integrate TRX for the long-term development of Steemit. Steem Inc. and TRON DAO will always be committed to exploring the best integration solution to jointly promote the healthy and stable development of the Steem ecosystem and TRON ecosystem.
Thank you
The Steemit Team
Well, it's a development I believe is aimed at balancing the health of both the Steem and Tron Ecosystem.
Comparing the former ratio of the distribution (1 SP: 1 TRX) to the new ratio underway, we can assume or say that excess TRX is created into circulation through payout and now, it would be reduced by half.
It might feel somehow on users (authors/curators) because there would be a reduction of how much TRX they get at payouts but in reality, the action tends towards balancing the economy of Steem and Tron.
And what if in the next few months, the market of TRX becomes so healthy because of the reduction of the circulating supply, I guess the entire community would be happy about that.
This is my opinion on this development and I look forward to a greater future for the Steem and Tron ecosystem.
Just out of curiosity...
Over the 22 months of the existing program, the TRX per STEEM dropped from 1:1 to 0.94:1 -- I'm assuming, maybe, because it was tied to VESTS and not really to SP and blockchain inflation drove down the rate (in terms of SP)? So, my questions now are, will the new number really be 0.5 or will it be 0.47 (half of current)? Also, will it continue to decay as time goes on or is it being anchored to SP this time?
Not that it makes a huge difference, but I'm just wondering.
So, the new conversion rate is going to be 3592 vests = 1 trx.
As far as i know, 1 TRX was paid out for every 1913vests. It'll be interesting to see how the 0.5 trx is going to be calculated moving forward.
So, in layman's terms, it looks like everyone on Steemit will be earning half the TRX they are earning currently.
As far as better integration between Tron and Steemit, would it be possible to build a bridge on Steemit to go directly between trx and steem without having to go to an exchange?
*Also, are ads a possibility to generate some revenue? I know we used to have ads on Steemit back in the day that generated some/modest revenue, but any kind of outside revenue generated that could then be used to buy/burn STEEM would be a great get for the ecosystem.
Indeed @jrcornel
Receiving TRX tokens has been always a nice bonus and we will just enjoy less of that bonus in the future :)
I think the same, but the price of TRON in the future may go up, so having 0.5 TRON could also be good
Yes, I agree! The bridge between the trx and steem is very necessary!)
yes i too agree
Not sure exactly how we can get this done, but considering steemit.inc owns a large amount of steem and trx, it seems like setting up a bridge at scale between the two currencies is possible. Heck, they could even attach a tiny fee for using the bridge that would burn steem or trx...
@justyy recently launched a bridge between steem and usdt - https://steemyy.com/steem2usdt.php. The bridge is working well.
So everything is real :)
Yes I have seen that, and that is very interesting. Though I am talking about one directly on steemit.com and funded at scale...
Yes, I understand :) Let's hope that this bridge will appear soon)
It is a good time to Choose 100% Power Up and also you can Earn Passive TRX!
Your post is manually rewarded by the
World of Xpilar Community Curation Trail
STEEM AUTO OPERATED AND MAINTAINED BY XPILAR TEAM
https://steemit.com/~witnesses vote xpilar.witness
Hello dear team,
It was a necessary change to preserve TRX in a long term and I was surely expecting it, I have a little suggestion,
As @justyy recommended people will start setting 100% power up more frequently:
Eventually people will not have liquid rewards so they could shown as not elegible for club status. We can see easily if someone set 100% power up by seeing the STEEM icon in the post.
But what if you start promoting a tag that indicate when someone set 100% power up? Something like #powerup100 so people will indicate that they already are doing power up to everything?
Thanks in advance and best wishes!
I think this is a good point.
good update to improve the trx and steemit integration project which is beneficial for the steem and trx ecosystem in the future with this long term project of the steemit platform,, totally agree with the steps that will be carried out,, good luck in this way in improving the steem ecosystem and thx for the long future,,,
Although I don’t know what impact it will have, it is the goal of a virtuous circle of the platform to be rich in ecology and allow users to get more fun and income.
Looking forward to getting more attention
Steemit dapp boylikegirl.club.
Hello @steemitblog! You are the best!
command: !thumbup is powered by witness @justyy and his contributions are: https://steemyy.com
More commands are coming!