Tron (TRX) is set to launch its test Main net at the end of this month, May 31, 2018. The much awaited event will see the blockchain migrate from the ERC20 standards to its own blockchain. The TRX token is expected to rise significantly as the day to the main net nears.
Tron Foundation has made an announcement to its community and token holders to move their coins from the ether wallets to supported exchanges to avoid complications in trading and withdrawal. Tron announced on Twitter that the migration of TRX from the Ethereum blockchain to its own main net will take place on June 21st to June 25th. All token holders should move their TRX to the partnering cryptocurrency exchanges such as Binance.
“Token migration from ERC20 to Main net TRX will occur [between] June 21 to June 25. If your #TRX are held in a wallet, you must deposit them with a supporting exchange before June 24th 11:59PM (GMT+8). Check the partners already supporting the migration! Stay tuned for more!”
Tron foundation on Twitter.
Once you have transferred your tokens to the exchange no need to worry as they will automatically be moved to the Mainnet from Ethereum. If you hold your coins on a hardware/cold wallet storage such as Ledger Nano S and MyEtherWallet it would be safe to transfer them to the exchange wallets. TronLabs is yet to give their stance on what is to happen to tokens stored on these devices.
Binance has offered their support on the move too as they are ready to take up any technical issues regarding the TRX deposited in their wallets. The support received from the second largest cryptocurrency exchange will be key to see Tron (TRX) maintain its top 10 status on the charts as adoption is sure to increase from the move.
“#Binance Will Support #Tron $TRX Main Net Token Swap. When the swap occurs, we will handle all technical requirements involved for all users holding #TRX.”
binance on Twitter.
The migration is to take place after the test of the Main net is complete from May 31, when launched to June 20th when the test period is completed. After obtaining the top 10 position on Coinmarketcap, Justin Sun, Tron Foundation CEO, stated in his ‘Letter to the Tron Community on the progress of Tron’s Main net and Ecosystem’ that the token now aims at reclaiming the top 6 position it briefly held in January. The Main net will be one of the main drivers to reaching the goal by end of the year as scalability is enhanced as it moves from the Ethereum platform.
More events in Q2 2018
Other events to happen in this quarter include the launch of the TronVM v.0.1 on May 25th that enables the dApp developers to migrate successfully from the Ethereum blockchain through the Ethereum VM compatibility feature.
The Tron (TRX) Super Representative elections will take place a day after completion of the token migration to the Main net. Over 50 teams have registered to participate ranging from 10 countries and 4 continents.