Poloniex deepens partnership with TRON, applies for the position of Super Representative

Ali Raza
  • November 18th 2019, 13:12
  • Last Updated: November 18th 2019, 13:15
  • Poloniex has just announced that it will apply for the position of TRON's Super Representative.
  • The move comes from the exchange's desire to deepen its partnership with TRON, after recently listing TRX and dding a number of TRX pairs.
  • Poloniex's sudden interest in TRON comes as a consequence of the exchange going international, which allowed it to list coins that were not compliant with US regulations.

TRON’s network of Super Representative block producers is changing and replacing members, with some already announcing their plans to apply for the position. The most notable applicant by far, at least until this point, is a well-known cryptocurrency exchange, Poloniex.

Poloniex announced its plans only hours ago, stating that it hopes to deepen its partnership with TRON by becoming one of its 26 Super Representatives.

For the time being, Poloniex is only one of the candidates, although it is still sharing in a reward of 1.5 million TRX on a daily basis. However, if it gets elected, it will also gain access to block producer rewards.

Poloniex’s decision to join the TRON network only comes a year before the network’s block production rewards get canceled. The discontinuation of the rewards is a part of TRON’s plan to avoid inflation in the future.

Poloniex deepens its partnership with TRON

Poloniex and TRON have not been collaborating for a long time, but the exchange already provided its support to the project by bringing up new trading pairs against TRX. The exchange also provided support for TRON through the encouragement of the use of TRON-based Tether coins, thus increasing TRON’s liquidity.

TRX itself got listed only about a week ago, on November 12th.

The decision to list TRON came right after Poloniex itself became an international exchange. This also included denying access to US customers. But, in exchange, the platform got the ability to list many additional cryptocurrencies that would otherwise be unavailable due to the regulatory uncertainty in the US.

The exchange recently had to delist several cryptocurrencies for this very reason. The listing of TRX, as well as several other TRON-based coins,  were expected to bring a price boost to TRON, but the coin’s price dropped down to $0.018, which resulted in TRX once again leaving the list of top 10 largest cryptos by market cap.

About the author

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Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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