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.
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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.
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So, the new conversion rate is going to be 3592 vests = 1 trx.
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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.
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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.
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Indeed @jrcornel
Receiving TRX tokens has been always a nice bonus and we will just enjoy less of that bonus in the future :)
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I think the same, but the price of TRON in the future may go up, so having 0.5 TRON could also be good
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Yes, I agree! The bridge between the trx and steem is very necessary!)
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yes i too agree
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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...
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@justyy recently launched a bridge between steem and usdt - https://steemyy.com/steem2usdt.php. The bridge is working well.
So everything is real :)
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Yes I have seen that, and that is very interesting. Though I am talking about one directly on steemit.com and funded at scale...
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Yes, I understand :) Let's hope that this bridge will appear soon)
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It is a good time to Choose 100% Power Up and also you can Earn Passive TRX!
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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
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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!
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I think this is a good point.
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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,,,
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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.
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Hello @steemitblog! You are the best!
command: !thumbup is powered by witness @justyy and his contributions are: https://steemyy.com
More commands are coming!
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The improvements keep coming, and today we're really excited to introduce the new #Steemit! Look Your team has worked hard also gives you better organization and now has a beginner's guide so anyone can join and build a community.
Being a wholly community owned ecosystem means you own Documents too.
With community-based documentation, One of the things that makes #Stemit so unique is the technology it uses.
#I love it.
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This is a welcome idea since it aims at balancing because one peculiar thing about business sustainability is when there is at least balance in both profit and expenditure. Thanks @steemitblog
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I already knew tron before I knew Steemit, I hope that Justin Sun, understands the true value and potential of these social platforms that are the real alternative to the big platforms (Youtube and Facebook)
It is only here that creators can earn something for what they create, it is useless to go round and round about it, but I am convinced that Justin Sun is a smart person and will absolutely not let this business slip away in boosting this social.
GOOD WORK!
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This is a brilliant initiative, it is all for the best of everyone.
Some authors and curators may not like it at first but in the long run we shall see it's impact
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"Advantage"? TRX became an extensive pain in the ass. I never was able to operate my TRX asset on this blockchain.
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If you previously pay out 50/50, simply change to 100% Power up, so the TRX will be the same as before!
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And what about if you were already at 100% power up?
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I fully understand your point - but I guess we should just look forward and embrace the change. (and most importantly, feel happy)
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Hahahahahah, what I was about to ask? but @justyy replied already. I have had a better understanding now about it from @jrcornel reply to my comment. So I'm okay with it, and see better days on the both ecosystem and the project as a whole.
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Steem users burn Steen power and maintain their #club so tron network support them, with
1 sp = 2 TRX
not like this
1sp = 0.5 TRX
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Wow, this is a great strategy to burn Steem.
The system will use more STEEM POWER to TRX, by so doing burning steem. So this means we will be seeing a reasonable change in the days ahead as everyone will be involved and not just some selected steemians.
I'm positive that the price for both STEEM and TRX will change in an upward direction. A great strategy for the steemit team.
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hi @fombae
there is no mention about steem being burned
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@crypto.piotr, I did not said that the update mentioned steem burned. I was looking at the direction of strategy to improve the ecosystem, which is what I know the steemit team is working day and night. TRX distribution was not from space, and I didn't have a well understanding on it.
My comments was not that I didn't understand the change in payout ratio. But trying to get the strategy on how it help the ecosystem give the it was a reduction and not a double. Lol
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Waouh! Amazing updates from the steemitblog. TRX has really helped us, and though it's a little painful to reduce the amount or ratio of TRX per posts i think it's for the better.
So if i may ask, will those who have set their payout 100% SP have more TRX as compared to those who are at 50%/50% .
Because if i understand clearly, we will receive half the amount of TRX we used to receive right! So if those with 50%/50% because they have a reduced amount of SP received will recwive less TRX too and those with 100% SP would receive more right! Correct me of I'm wrong!
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I think you're right...and it is a smart move by the way :)
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Waouh! Amazing updates from the steemitblog. TRX has really helped us, and though it's a little painful to reduce the amount or ratio of TRX per posts i think it's for the better.
So if i may ask, will those who have set their payout 100% SP have more TRX as compared to those who are at 50%/50% .
Because if i understand clearly, we will receive half the amount of TRX we used to receive right! So if those with 50%/50% because they have a reduced amount of SP received will recwive less TRX too and those with 100% SP would receive more right! Correct me of I'm wrong!
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Yes, this is right and the same as before.
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Alright! Thank you
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Steem Power Not STEEM
So you can think from there.
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god bless you
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Google is paying $27485 to $29658 consistently for taking a shot at the web from home. I joined this action 2 months back and I have earned $31547 in my first month from this action. I can say my life has improved completely! Take a gander at what I do...
http://career42.tk/
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When are TRX going to start paying out again?
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I must say that this is quite a development, the integration truly has brought dome level of uniqueness on the Steemit platform compared to the other competitive platforms. However, i look forward to seeing what this uprising change would mean for some authors.
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!thumbup
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It seems to me a nice initiative. It may boost the growth of both the blockchains.
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nice , this is something great for all users , i think this is the way
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Greetings, this strategy seems very good to me, let's hope that the results will be the most favorable.
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As the markets are now, many projects have to reduce the rewards to become more profitable over time From my opinion, earning less trx is better than not earning any trx
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Recently, my TRX is no longer in my wallet. Do you have any solution?
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