Announcement on TRON Foundation Restructured as TRON DAO
As the crypto world grows on a fast track with ever-greater achievements over the past two years, Decentralized Autonomous Organization, or DAO, has been thrust into the spotlight. After its MainNet launch in June 2018, the three-year-old TRON has developed the world’s biggest decentralized autonomous organization, inaugurating a new era of full decentralization.
Therefore, TRON Foundation, having completed its historic mission of guiding the community, has settled to dissolve itself on July 25, 2021. The three nodes run by the Foundation — justinsuntron, BitTorrent, and utorrent — also quit TRON Super Representatives in December. Today, the 27 nodes that run the TRON network are all from our community. This marks the restructuring of TRON Foundation into TRON DAO, a much-anticipated organization recently launched with support from the community.
The establishment of TRON DAO allows users to participate in governance and decision-making in a fairer, freer, and more flexible fashion. Users will enjoy the full range of rights to engage in and decide the future of the TRON Protocol, while the voice and needs of the community will be heeded as much as possible. For the TRON Protocol, TRON DAO can cement the community consensus, boost users’ engagement, and render the decision-making process more transparent, secure, and decentralized.
The vitality and prospect of a blockchain protocol largely depend on whether it has strong community engagement. This is exactly what makes TRON the first public chain to grow into a DAO, and it also equips TRON with a unique edge in the fiercer competition in this sphere. On top of that, TRON DAO is what distinguishes TRON from web2.0 tech companies as it fully demonstrates decentralization, the essence of blockchain. This ace up its sleeve will definitely give an impetus to TRON’s march towards a $100 billion market cap and web3.0.
TRON succeeded in establishing itself as a bellwether of the global public chains by following such a growth path: led by the founder and supported by developers, super representatives are elected to foster community self-governance, which eventually transforms TRON into a fully decentralized and self-governed organization. At present, the total number of TRON accounts has exceeded the 70 million mark, with the number of nodes reaching 4,765 across the globe. TRON is showered with a myriad of decentralized projects in stablecoins, wallets, storage, exchanges, lending, liquidity mining, cross-chain applications, Oracle, social media, games, etc.
It is therefore only a matter of time before TRON achieves full decentralization and gives birth to TRON DAO, which fits better into the next development stage of TRON and the broader blockchain space as a whole. TRON DAO is tipped to leverage the TRON protocol to decentralize the Internet while boosting the effective governance for community members.
With DAO, which is fully digitalized and is able to scale globally, TRON will also speed up its global expansion towards the mission of delivering the Global Human Settlement Layer of the future. The advent of web3.0 is making DAO the jewel in the crown of the crypto world. Against this backdrop, the arrival of TRON DAO, the world’s biggest decentralized autonomous organization, is right in time!
TRON is dedicated to accelerating the decentralization of the Internet via blockchain technology and decentralized applications (DApps). Founded in September 2017 by H. E. Justin Sun, the company has continued to deliver impressive achievements since its MainNet launch in May 2018. In July 2018, the TRON ecosystem completed its integration with BitTorrent, a pioneer in decentralized services boasting nearly 100M monthly active users. The TRON network has gained incredible traction in recent years, with over 70 million users on the blockchain and upwards of 2.7 billion transactions. In addition, TRON boasts the largest circulating supply of stablecoins across the globe, overtaking USDT on Ethereum in April 2021.The TRON network completed full decentralization in December 2021 and is now a purely community-governed DAO.