Justin Sun, founder of Tron (TRX) altcoin announced the long-awaited liquid staking feature for users.
Tron (TRX) Altcoin Founder Justin Sun Shares Update Details
As is known, the TRX tokens staked so far were illiquid and therefore could not interact with smart contracts. For this reason, many users avoided staking TRX tokens. However, as the tokens were not staked, the Tron administration was also unable to participate in the voting.
#TRON is excited to announce the upcoming launch of liquid staking, as outlined in TIP467. This new feature will allow users to easily swap their staked #TRX for #STRXincreasing the overall liquidity of staked #TRX. @trondao @trondaoreserve
— HE Justin Sun🌞🇬🇩🇩🇲🔥₮ (@justinsuntron) January 21, 2023
With the new update, Justin Sun said that staked TRX tokens can be swapped with STRX tokens and the liquidity of staked TRX tokens will increase:
“TRON is excited to announce that liquid staking will be launched soon, as outlined in TIP467. This new feature will allow users to easily swap their staked TRX with STRX, increasing the overall liquidity of staked TRX.
In addition, TRON will take TRON to a new level of functionality and utility by offering a decentralized resource market as described in TIP484. You can enjoy the benefits of staking while maintaining liquidity and flexibility.”
In the current state before the update, TRON’s DPoS cryptocurrency system is implemented only locally by the chain and TRX, which is illiquid and cannot be integrated with the contract ecosystem, cannot be transferred to others. Users need to release the TRX and wait for a while before they can transfer these TRXs. During the release period, users are unable to retain their original voting revenues and free resources.
*Not investment advice.
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