트론 (TRX) 토크노믹스

The TRON network's native token, TRX, is central to its Delegated Proof-of-Stake (DPoS) consensus mechanism, resource model, and overall ecosystem utility. The token economics are designed to incentivize network participation, secure the blockchain, and manage network resources through a combination of minting, burning, and staking mechanisms.

Issuance Mechanism

TRON's issuance mechanism is characterized by a shift from an inflationary model to a deflationary model, driven by continuous token burning.

• Minting (Inflationary Component): New TRX tokens are minted to reward network participants. The underlying TRON protocol creates new TRX when a Super Representative (SR) produces a block. Currently, for each new block generated (which occurs approximately every three seconds), the protocol generates a block reward of 16 TRX and a voting reward of 160 TRX. These rewards are dynamic parameters that can be modified through committee proposals.
• Burning (Deflationary Component): TRX is burned primarily to pay for network resources and through manual burns.
  • Resource Consumption: Users burn TRX to acquire "bandwidth" (for transaction size) or "energy" (for computation required by the TRON Virtual Machine) when their free daily allocation is insufficient. This mechanism ensures that even malicious applications, such as those running infinite loops, eventually run out of TRX and terminate, protecting network stability.
  • Historical Burns: A significant manual burn of 1.00 billion TRX (1.00% of the initial total token supply) occurred on June 25, 2018, upon the launch of TRON’s mainnet.
  • Deflationary Status: On April 6, 2021, TRON DAO announced that TRX had transitioned to a deflationary token, a result of implementing TRON Improvement Proposal 51 (TIP 51). This deflationary trend has been observed in recent quarters, with net burns making the token supply deflationary. For instance, in Q4 2024, 414.98 million TRX were net burned.

Allocation Mechanism

The initial allocation of TRX tokens occurred through private and public sales, with significant portions reserved for the foundation and initial supporters.

• Initial Coin Offering (ICO) and Sales:
  • Private Sale: On January 8, 2017, 25.70 billion TRX (25.70% of the initial total token supply on Ethereum) were sold, raising approximately $30.00 million.
  • Public Sale (ICO): On August 30, 2017, 40.00 billion TRX (40.00% of the initial total token supply on Ethereum) were sold, raising approximately $150.00 million.
• Foundation and Initial Supporters:
  • TRON Foundation and Ecosystem: 35.00 billion TRX (35.00% of the initial total token supply on Ethereum) were allocated to the TRON Foundation and the ecosystem.
  • Initial Supporter (Peiwo Huanle): 10.00 billion TRX (10.00% of the initial total token supply on Ethereum) were allocated to Peiwo Huanle (Beijing) Technology Co., Limited.

The total initial token supply on Ethereum was 100 billion TRX.

Usage and Incentive Mechanism

TRX serves multiple utility functions within the TRON ecosystem, primarily revolving around network governance, resource management, and transaction settlement.

1. Network Resource Acquisition

TRX is used to manage network resources:

• Bandwidth and Energy: Users can burn TRX to pay for transaction fees (bandwidth) and smart contract execution costs (energy).
• Staking for Resources: Users can stake TRX to obtain free bandwidth and energy resources. Staking TRX grants a proportional share of the daily fixed amount of energy (90.00 billion daily) and bandwidth (43.20 billion daily) shared across the network.

2. Governance and Staking Incentives

TRON operates on a DPoS consensus mechanism, where staking TRX grants voting rights (TRON Power) to participate in the election of Super Representatives (SRs).

• Super Representatives (SRs): There are 27 SRs responsible for block production. They earn 16 TRX for each block produced.
• Voter Rewards: SRs, Super Representative Partners, and TRX stakers who vote share voter rewards. For every block produced, 160 TRX are rewarded to SRs and SR Partners, which is then distributed to their voters based on their voting ratio, after deducting the SR's commission (default commission ratio is 20.00%). These rewards are sourced from inflationary TRX minted each block.

3. Medium of Exchange and Ecosystem Utility

TRX is widely used as a medium of exchange:

• Payments and Transfers: Used for settling account creation fees and making payments within and outside the TRON ecosystem.
• DeFi and Stablecoins: TRX is used as primary collateral in DeFi lending markets and is integral to the mint-and-burn mechanism of the algorithmic stablecoin USDD.

Locking Mechanism and Unlocking Time

The primary locking mechanism for TRX is related to staking for network resources and governance participation.

• Staking (Locking): Users lock their TRX to gain TRON Power (voting rights) and network resources (bandwidth and energy). This locking mechanism is essential for participating in the DPoS governance model.
• Unlocking Time: Specific details regarding the unlocking time or vesting schedule for staked TRX were not explicitly provided in the available data. However, the concept of locking is tied to the acquisition of resources and voting rights.

Summary of Initial Allocation and Vesting

Note: The total initial supply was 100 billion ERC-20 TRX. The figures for the Foundation and Initial Supporter overlap in the provided data, totaling 110% of the initial supply, suggesting the 35.00 billion and 10.00 billion allocations are components of the overall foundation/ecosystem allocation.

Information regarding the specific unlock schedules for tokens currently locked in staking or other mechanisms was not available.