TRON (cryptocurrency)

TRON is a blockchain-based protocol and operating system that was founded by Justin Sun in 2017 and is headquartered in San Francisco, California. The platform launched the TRON mainnet in June 2018 and is designed to allow users to create decentralized digital content applications. According to TRON's website the platforms can handle over 2,000 transactions per second.

Introduction to Tron.

TRX buy-back plan

On June 25, 2019 tron announced the company will be buying back their own TRX cryptocurrency in several batches with at least $20 million worth of TRX in each batch. The company also announced they will unlock their TRX holdings held by the TRON Foundation on January 1, 2020, and has no plans to use the unlocked TRX for anything specific (at the time of their announcement).

Investment funds

Blockchain Gaming Fund

On November 29, 2018 Tron announced their Blockchain Gaming Fund with $100 million in funding. The company claims the fund will be used to support blockchain game developers, and made the following public statement:

TRON strives to tackle existing issues faced by the gaming industry by leveraging the open, transparent, and immutability of blockchain technology. TRON Arcade will play a crucial role in encouraging developers to join in our mission and provide the best blockchain gaming experience to users around the world.

Funding

Initial coin offering (ICO)

From August 31, 2017 to September 2, 2017 TRON held their initial coin offering (ICO) selling approximately $70 million worth of TRX cryptocurrency.