The TRON mainet switch — What TRX holders need to know

On May 31st the Tron mainet, Odyssey 2.0, was successfully launched and is now available for download from the TRON Github page.  A big step forward for the project, TRON Odyssey 2.0 has accumulated 2,153 commits (revisions), merged 547 forks, released 15 software iterations, and added 102 new features.

June the 25th has been scheduled as the date of full migration of the network and has been referred to as ‘Independence Day’. In terms of logistical issues, the switch from ERC-20 to native TRON  tokens, will only be available as an ‘automatic’ option. This means TRX holders will have to ensure their tokens are in a supported exchange or wallet, and that third party will handle the transition – converting the existing tokens into their new form.

If users miss the final migration day, they will be unable to manually switch to the new form of TRX and will have to wait until another mainet switch date is announced. This later mainet switch will only occur on an exchange of TRON’s choosing, which will be announced at some later date.

A number of major exchanges and wallets are supporting the mainet switch and any TRX ERC-20 tokens should be in one of these platforms before the 25th – Bit-Z, Bitfinex, Bitpie, Coinnest, Coinrail, Bithumb, Bibox, Binance, BITKOP, Okex, DragonEx, Bittrex, Liqui, Binance, Bixin, Gate.io, RightBTC, UpBit, ZebPay and Huobi Pro.

Independence Day will also be when TRON ‘Super representative’ election results will be announced. The 25 Super representatives will act as the primary nodes of the network, and the open community vote to determine them is ongoing.

A major part of the TRON Odyssey launch conference was announcing some of the impressive social media numbers attached to the project. Founder Justin Sun claims TRON mentions/activity on YouTube and Twitter are currently higher than those of Bitcoin and Ethereum and 1500 new TRON related videos are being posted on YouTube every day.

At 1.04 million, Tron also has by far the largest number of token holders of any project on the Ethereum network, Sun says, with EOS next best with 360,000.

For developers interested in working within the TRON project, a bug bounty program was announced at the launch, with up to a US$100,000 reward for bug finders.

Additionally, a Developer Accelerator program with its own reward pool has been set up for blockchain explorers, wallets, and other infrastructure apps created by the TRON community. Outstanding applications will be announced on June 5th.

They were also major announcements made with respect to Q3 plans for TRON, revolving around the expansion of the TRON Dapps platform, the expansion of the user base and the integration of other tools like blockchain explorers and e-wallets.

TRX price action

In the hours immediately before the official mainet launch, there was much speculation surrounding whether any major partnerships would be announced. A Tron purchase of Bittorrent has been whispered about and other rumoured deals like a listing on major exchange such as Coinbase were mentioned, but no such announcement was made.

TRON hodlers and mainet backers may be disappointed that the Odyssey news did not trigger an upward price surge post the launch, but TRX prices have held steady in the 24 hours since. That there was no major market-wide dumping might be a sign of the market’s confidence that new mainet will see TRON begin to deliver on the many promises made by Sun.

Since the new network went live, the TRX price has fallen by 1.8%.

On May 31 the TRON project began the switch from being an ERC-20 token to its ownmainet*. So what will this mean for TRX holders and how did it impact the TRON price?*