TronWallet Rewards Update — May 2019
Back in late February, we announced our brand new TronWallet Rewards program, which moved us from an in-app fee model to sharing model of the rewards received over the period of one month.
TL;DR — Fees were not welcome by our community of users, implementing fee taking steps in-app would shift focus away from development of NEW features that users wanted: TronWallet 2, multi-token send, better Dapp browser, new Dex, 2FA, Atomic Swaps and a long backlog.
Starting March 2019, the new TronWallet Rewards program was in place and during the first month, the total rewards reached over 1.7m TRX and 250K TWX, of which 50% were shared back to TWX and TWLT holders.
The process of calculating monthly Rewards and distributing among qualifying holders soon became a challenge as it required developing new tools and automations. These tools are now in place as we finalize pending rewards and send out April rewards.
For the period of May 2019, the following qualification criteria and conditions will apply for the monthly TronWallet Rewards:
- Hold 1000 TWX or more
- TRC20-only TWX tokens — (TRC10 TWX tokens holding do NOT qualify for rewards)
- Snapshot will be taken during the last 7 days of the month
For TronWallet TWLT holders: no changes — 1 TWLT is equivalent to 300K TWX for reward calculation.
As we move forward and TronWallet users have surpassed 100 000 users, our objectives are very simple:
Maximize monthly TronWallet Rewards for our holders — by working with the TRON community, the DApps, SR’s, Token Issuers and providing news services in a simpler, self-service
Simplify the process for our users — Please stay tuned for a new way to stake your TWX and become eligible to earn TronWallet Rewards
Reduce the time-to-reward — once period completes, airdrop rewards within 6 days.
We believe this is the right time to update the program. Thank you for the support!
Please let us know your thoughts as we strive to improve this new program and make it better for our community and TWX / TWLT holders.
Project information: https://medium.com/tronwallet
Telegram Community: https://t.me/TronWalletMe
— over 75K members