In February 2020, Steemit and the Tron Foundation entered into a strategic partnership.
As a result of that partnership we are delighted to announce the integration of the TRON token, TRX, into the Steem ecosystem, which will be live in a few hours!
Users will now be able to earn additional TRX rewards alongside Steem Power when posting content on the Steem blockchain.
This is a major step forward in the mutual growth and development of the Steem and TRON blockchains.
TRON is an advanced decentralized blockchain platform, dedicated to the establishment of a truly decentralized Internet and its infrastructure.
The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers public blockchain support of high throughput, high scalability, and high availability for all Decentralized Applications (DApps) in the TRON ecosystem.
Steemit has redefined social media by building a living, breathing, and growing social economy – a community where users are rewarded for sharing their voice. It is a new kind of attention economy.
The integration not only makes Steemit users to earn more benefits and join the TRON ecosystem, but also Steemit can provide TRON users with a platform for communication and sharing, which will enrich and develop ecosystems of both parties much more.
Let’s take some time to look at the exciting new features before it is online!
TRX rewards will be distributed in direct proportion to the amount of Steem Power earned, at the ratio of 1 TRX : 1 SP.
For every 1 SP earned, 1 TRX will also be awarded.
No TRX will be given for STEEM or SBD earned.
Posts set to Power Up 100% which get all their rewards as Steem Power, will therefore receive twice as many TRX as posts set to 50% SBD/50% SP.
TRX will also be earned in the same 1:1 ratio from curation rewards. So if you have more Steem Power to vote with you will earn more TRX from curation as well.
How to claim TRX
To be able to claim TRX you will need to have a TRON account associated with your Steem account.
New Steem Users
For new users joining Steem, a TRON account will be created automatically, and the TRON address will be connected to their Steem account.
New users will then be able to earn TRX alongside Steem Power, SBD and Steem as they post, comment and curate.
As with the Steem keys, users will need to download the PDF and keep the TRON keys safe.
The PDF with both the Steem keys and the TRON keys can only be downloaded once, after that the PDF available for download will only include the Steem keys.
Steemit will not be keeping the TRON keys, so if the keys are lost access to the TRON account and the TRX in it will also be lost.
If a user does lose access to their TRON account they can generate a new one via the ‘UPDATE THE TRON ACCOUNT’ function in their Steemit Wallet. Any TRX collected in a previous account will not be carried over to a new TRON account.
Existing Steem Users
To create a TRON account existing Steem users will just need to log in to their Steem account on steemitwallet.com.
You will be presented with a pop-up window asking you to Agree to setting up a free TRON account...
Just click on Agree and your TRON account will be created automatically.
Make sure you download the PDF with your TRON account keys and keep it safe !
To confirm your TRON account has been created log in to your Steemit Wallet and you will see a TRX balance displayed.
You must log in to steemitwallet.com to create your TRON account the first time. After that you can post on any frontend to earn TRX rewards.
Even if you do not create your TRON account straightaway your TRX rewards will still accumulate and will be distributed to your wallet when you do set up the TRON account.
Display of TRX Rewards
The pending TRX rewards on a post will be displayed alongside the SP and SBD. Just click on the down arrow next to the post payout total to show the rewards.
Your TRX total balance will be displayed in your Steemit Wallet.
Note: This address is only used for claiming TRX, please don't transfer any assets into this address.
How can you use your TRX rewards
There are several ways you can use your TRX rewards...
- You can contribute to the TRON ecosystem by freezing (staking) your TRX and voting for Super Representatives. This should earn you over 8% APY (Annual Percentage Yield).
- TRX can be traded on Poloniex for other cryptocurrencies.
- TRX can be transferred to other Steem accounts or TRON accounts.
- TRX connects the entire TRON ecosystem. You can send TRX anywhere, anytime.
If you want to do more with your TRON account then try the TronLink wallet and import your TRON account there.
Tell the world on Twitter
If you are on Twitter please retweet our announcement on @steemit.
Tweet out about it yourselves as well to your friends and followers.
You can also share this great news on your other social media.
If you post screenshots, links and your number of followers in the comments below we will be giving out some extra votes.
The integration of TRX into the Steem rewards system is a great new benefit for all active Steemians.
We hope you are as excited about this advance as we are.
Look out for more great developments coming in the future,
The Steemit Team