The decentralized entertainment content sharing platform led by Justin Sun will be migrating TRX ERC-20 tokens to TRON’s mainnet on June 21st, 2018. On Wednesday, Justin Sun announced that DragonEx will be supporting the token migration, alongside Binance, Bittrex, and Bitfinex.
Those who wish to migrate their tokens with DragonEx must deposit their ERC-20 TRX tokens to the DragonEx exchange before June 20, 2018, 23:59 (UTC+8). On June 26th, DragonEx will issue the equivalent amount of TRON mainnet tokens to those who deposited their TRX ERC-20 tokens before the June 21st deadline.
— Justin Sun (@justinsuntron) May 23, 2018
DragonEx Cryptocurrency Exchange
DragonEx is a Singapore-based cryptocurrency exchange – on May 15th they launched an English version of their site to expand their user base.
TRON’s price has continued to rise in anticipation of the mainnet launch and even with the recent market downturn, it is still up 1.21% over the past week.
In January 2018, TRX increased significantly seemingly out of nowhere, trading from $0.03 to $0.29 in just over one week – afterward, the market quickly corrected itself and TRX plummetted back down to $0.03. This time around, however, TRX has steadily worked its way back up to its current value of $0.07.
The mainnet launch may possibly have an effect on short-term price movement. Long-term price action will be dependent on the project’s overall progress moving forward. Despite the bear market, TRX seems to be doing well.
Named Odyssey 2.0, the mainnet will be officially launched on May 31st. The announcement highlighted numerous advancements that will improve the network, giving TRON the edge it needs to compete with Ethereum.
According to the announcement, Odyssey 2.0 will:
- Provide highly available and asynchronous snapshot and reply functionalities
- Optimize dozens of core parameters through binary exponential backoff algorithms
- Distribute resources throughout the blockchain
TRON is preparing for the genesis block of the mainnet launch on June 25 – for more information regarding TRON and the future of the project, check out our TRON guide.
Cover Photo by Lily Banse on Unsplash