TRON and Justin Sun’s Decision on Permanent 1:1 Acceptance of Tokens from the TRON Family (TRX, BTT, JST, SUN) on OKEx
Dear TRON community,
It has been 15 days since OKEx announced the withdrawal suspension on October 16. This incident has escalated from a decision of a single trading platform to the turmoil of the entire industry, and may even affect the industry’s future direction. TRON Foundation and I have received a great number of requests from holders of TRX, BTT, JST and SUN expecting to withdraw tokens on OKEx. The team and I are extremely upset to see how the situation has developed so far.
We have come to a critical crossroad where none of us can detach ourselves.
What is a speck of dust for an era has the power to crush an average person. And in the crypto industry, we are all hardly more than ordinary mortals.We are too insignificant to question the rule and decision ordained by the time. But powerless as we may be, we can at least unite at this special moment to exchange the slight warmth and support we have, because the only one who can save us will be ourselves.
After careful consideration, we have decided to permanently recognize and honor TRON tokens (TRX, BTT, JST and SUN) at 1:1 on OKEx.
In other words, no matter how the situation evolves, TRON Foundation will do its best to recognize and honor TRON tokens (TRX, BTT, JST and SUN) on OKEx, even in the worst case scenario. TRX, BTT, JST and SUN on the OKEx platform were not, are not and will never be “in-game currencies”. TRON will not sit back and let TRON token holders incur such a loss.
First of all, we need to clarify that this decision has nothing to do with the OKEx platform itself, which is the biggest difference between this decision and the Withdrawal Announcement issued by TRON on October 20. TRON Foundation promises permanent unilateral 1:1 acceptance of TRON tokens including TRX, BTT, JST and SUN. TRON Foundation will honor the payments with its own capital without recognition and support from OKEx.
Second, in the event of the worst scenario, TRON Foundation will still honor TRON tokens (TRX, BTT, JST, SUN) at 1:1 for all actual token holders on OKEx no matter where these assets on OKEx will eventually go. This decision is made solely by TRON Foundation and is not subject to any situation change or force majeure.
Third, the decision marks our endeavor to revive the industry from within. For the sake of vast holders of TRON-based tokens including TRX, BTT, JST and SUN, we will always go all out to support OKEx, which is one of the earliest platforms to support both TRON and TRON Futures.As the project team, we will continue to support the growth of OKEX, and look to the day when it gets back on its feet and restores the glory again. The industry only survives if we unite.
We will closely follow the development of this situation, and will try our best to protect the interests of all TRX holders, which has been our top priority since day one. To all our TRX holders around the world: no matter how helpless or desperate you might be in the event of any threat to your holdings, please bear in mind that you are backed by a powerful and responsible team, who will make every endeavor to protect your interests.Community always sits at the core of TRON’s corporate culture.
The goal of this decision is to safeguard our holders’ TRON-based assets. TRON Foundation reserves the right of final interpretation of this announcement.
October 31, 2020