TRON Releases Periander and the First TRON-Based RAW Product

• Tron includes token burn, Real World Asset (RWA) products, and Hackathon unveiling in its weekly update.

• TRX is, however, struggling to rise despite the groundbreaking upgrades and announcements. 

Tron (TRX) has been very active in the crypto space in the last couple of years as the team seeks to advance the ecosystem to compete at the highest level. In the week starting from July 1 to July 7, Tron recorded several milestones, which, via the @Trondao onTwitter summarized the latest updates.

🧐Check out #TRON Highlights from last week (Jul 01, 2023 – Jul 07, 2023).

🙌We’ll update you on the main news about #TRON and #TRON #Ecosystem. So stay tuned, #TRONICS! pic.twitter.com/9PXFlDobQ8

— TRON DAO (@trondao) July 10, 2023

One of these groundbreaking developments over the week is the Tron Grand hackathon season 5 officially launched on July 6. A prize pool of $500,000 is up for grabs. Also, there would be a reorganized structure, with five tracks namely AI Strands, “Web3, DeFi, Artistry (covering NFT, GameFi, and metaverse projects), and Builder.” The submission would run from July 6 to October 5, 2023, with the community voting period set on October 20 to 27. 

On July 1, Tron also announced the release of the Great Voyage—v4.7.2 (Periander). This is said to be an upgraded version of it MainNet. The MainNet is expected to introduce important upgrades including an improved Stake 2.0 mechanism, revamped P2P network module, streamlined smart contract interface calling, and seamless compatibility with EIP-3855. 

More Tron Weekly Updates

It is also important to note that Periander comes up with two critical governance proposals for TRON Stake 2.0. The first proposal is to assist users to withdraw their unstaking requests. The second one is to empower them to customize their lockup period for delegated resources. 

With the Periander upgrade, TRON strives to foster inclusivity in its network by achieving compatibility with Ethereum’s EIP-3855. This new governance proposal ensures the compatibility between TRON’s and Ethereum’s virtual machines while reducing the associated costs to deploy and use smart contracts on the TRON network. Hopefully, it will attract more developers to TRON and promote enhanced interoperability between TRON and Ethereum ecosystems.

On July 5, Tron launched its first Real World Asset (RWA) product, stUSDT operating via the decentralized platform JustLend. According to Tron founder Justin Sun, stUSDT would evolve to become the crypto version of Alipay’s Yu’e Bao.

In his statement, this product would connect the traditional markets to blockchain ecosystems. Also, crypto users would be provided with more options. The stUSDT platform is expected to launch a campaign that offers APY of up to 10 percent from July 10 to August 10, 2023.

Over the week, the Tron network announced the approval of proposal No.87 voting request. This is to ensure that the bandwidth parameters for accounts on its network are modified. Users will then have less free bandwidth available. The freenetlimit, a specific parameter that determines the allocation would be reduced from 1500 to 600. This is to ensure that users use the network resources wisely and efficiently.

Tron has also renewed its commitment to its value growth and deflation by burning 12,303,752 TRX on July 8. 

#TRON just burned 12,303,752 #TRX on July 8th 🔥 showcasing a commitment to deflation & value growth 🚀 With a net negative production ratio of -7,238,121 🤯 pic.twitter.com/nmHWAsptRB

— TRON Community (@TronixTrx) July 9, 2023

TRX was trading at $0.076946 as of press time and had a neutral market sentiment. 

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