Justin Sun, Founder and CEO of Tron announced via his official Twitter handle that Tron (TRX) is now available for staking on Bitfinex, one of the leading cryptocurrency exchanges. And yet another tweet revealed that the exchange has become the super representative of Tron.
According to the update, the annual staking benefits on the trading platform are estimated to be between 6% and 8%. The soft-staking program made available by the exchange enables its users to easily and securely generate rewards by holding the digital token TRX on the exchange of crypts.
“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.
Bitfinex Becomes Tron’s Super Representative
Sun revealed in another development that Bitfinex cryptocurrency exchange has become Tron’s Super Representative (SR).
The report stated that the exchange took part in the TRON super-representatives election, making Bitfinex an official Tron SR (TRX). The Tron super-representative mechanism effectively avoids data monopoly, protects user privacy and eliminates unnecessary data leakage according to Justin Sun.
Justin Sun says:
“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.”
Virtually all of the top 20 cryptocurrencies, including Bitcoin (BTC) and Tron (TRX), have maintained their accumulated prices over the past few hours without any notable gains or loss.
Cryptolydian reported earlier that, Tron platform has received over $2 million in coronavirus relief from the United States Government, a post on the Chinese WeChat relayed the new development.
The grant was made available to U.S. companies affected by the coronavirus pandemic for salary protection according to the report.
The digital token TRX currently occupies 14th place, with a market cap of $1.07 billion. TRX is trading at $0.0162 at the time of writing, with a price upward of 1.61 percent in the last 24 hours.