As of this moment Tron (TRX) is on number 8 on coinmarketcap.com with a market cap of $12,610,503,317. Sounds like a serious coin, right? Wrong.
Thanks to rockyrainy (reddit username) for doing the research on this! He read the whitepaper.
https://dn-peiwo-web.qbox.me/Tron-Whitepaper-1031-V18-EN.pdf
"On bottom half of page 2
Realization Path of TRON Exodus, Data Liberation
Odyssey, Content Empowerment
Apollo, Free Movement of Value Decentralized Token Trading Exclusively for Individuals
Star Trek, Traffic Monetizing Gaming of Decentralization and Market Forecast
Eternity, Traffic Conversion De-centralized Game
I shit you not, this is what the paper actually says.Here is the distribution on section 10.2
Total amount of TRX is 100 billion and will be allocated as follows:Public offering: 40%
TRON Foundation and the ecosystem: 35%
Private offering: 15%
Pay initial supporter - Peiwo Huanle (Beijing) Technology Co., Ltd.: 10%
CEO of Tron was the founder of Peiwo.
Whoever is still buying Tron at this stage, good luck to you."
So what does this mean for Tron? Probably nothing in the short term. Unfortunately the crypto market doesn't always need serious products to lure in funds. Anyone else feeling that the altcoin market is getting a little overcrowded? What are your thoughts? Is this kind of distribution okay? Are you fine with these guys being able to cash out that kind of percentage? Are you okay with a whitepaper like this?