A Reward Pool of 96,472,628 TRY Is Set Up
Thank you community for the amazing support for our recent staking auctions. To give back to the community and for better supervision of the staking rewards, a new reward pool has been set-up with 96,472,628 TRY. The 96,472,628 TRY will be transferred from the foundation address: (0x27e8b047e02eEBCB6143EC9a514Bb9e1608382e9) to the bonus address: (0x48B91A89D7041039a5A9Bf8CB2f1c136FF9f37a9) on 12th June at 02:00 GMT.
As mentioned in our previous announcements, the 96,472,628 TRY have been purchased through the secondary market from the revenue generated in 2019 by Trias foundation. The TRY will be distributed in the following ways:
1. Staking Auction Rewards: A total of 96,000,000 TRY have been allocated as staking rewards for the community. The staking auctions will be organized on a regular basis and the community members participating in the staking auctions will be eligible to share the staking rewards in accordance with the rules set forth in each staking auction.
So far, We have successfully completed two staking auctions with highest 124% APR. For more details, please visit our staking website: https://staking.trias.one/
2. Burning: To further incentivize the network participants, the buyback tokens will be removed from circulation.
The 96,472,628 TRY have been purchased back from the secondary market from the revenue generated by Trias foundation in 2019. The revenues of Trais Foundation come from sales of TriasForce and other blockchain products in Trias Alliance.
To learn more about the repurchase, please check the announcement: https://www.trias.one/article/439/en.