On May 31, 2018, Tron Labs will launch the Main Net and thus transition the TRX cryptocurrency away from the Ethereum blockchain to one managed by Tron Labs.
This new network will be supported by nodes, and 27 of those nodes will be elected by the TRX coinholders to be Super Representatives, and produce blocks. The bigger Super Representative organizations own enough TRX to vote themselves to the position. The smaller Super Representatives must work a little harder for the votes.
Every day these 27 Super Representatives will rotate through producing blocks, and earning the block rewards of 32 TRX per second. That's a little more than 2,750,000 TRX per day at an average of about 100,000 TRX per Super Representative.
The Super Representatives will earn TRX daily, but in order to maintain elected power those Super Representatives must provide benefits to the TRX voters who elected them. In addition to benefitting the Tron community with support initiatives, a Super Representative may wish to share its rewards directly with the TRX voters who elect it every day.
I am already running a cloud based node on the test net, with a focus on uptime and reliability. I hope to meet the performance levels sufficient to get my node voted into the group of candidates for Super Representative, after which the node may or may not enter rotation as an earning Super Representative.
Originally I had welcomed the notion of taking a seat at the table next to other members of the TRON community, then I realized there probably won't be room for even one of us.
And then I wondered,
'Since a TRON Network Super Representative is actually a collection of people backed by an organization, what if the members of the Reddit, Twitter, and YouTube community banded together to become a Super Representative?'
There won't be a seat at the table for any one of us, but perhaps there's one for all of us. Alone we each stand zero chance of winning an election, but together we can vote ourselves in.
This is not a novel idea. Several other groups have formed with similar intentions, with different rewards plans being developed. Anticipating this, I have set this project apart from the others by proposing an open source structure for the management and ownership of the organization. While the others have proposed the creation of private non-profit organizations, the Tron Community Node Project is a proposal to create a public nonprofit. If you are searching for a proposal that will offer you the maximum payout for your vote, this may not be it. As a public nonprofit our commitment is to the public benefit.
To run a Super Representative node, the Tron Foundation recommends a technical budget of $40,000 per month - a substantial investment for a startup. I have devised a plan to bootstrap our operation and to start I am paying out of pocket for the server's introductory level operation. I have a plan to scale the server size according to its growing predominance, and have already increased the provisioning twice. If elected to one of these exclusive Super Representative posts I will be able to scale up what I believe will be a reasonably acceptable server instance within 10 minutes.
One day of earning would make one week's operation of the server financially self sufficient.
This will be my test for viability of the server. If it succeeds, then I get to move on to the next phase of the plan. If it is woefully inadequate and fails to produce blocks when given the chance, then I will have lost a small sum and a considerable amount of time.
The next phase of this plan begins with the creation of a TRX-20 token, the TRON Groupsource Node Token (TGNT). This token will be sold to supporters of our organization and will create a mechanism for rewarding their TRX votes, as well as for allowing them to participate in the operation of the organization.
Please take a moment to review our Rewards Proposal.
In a nutshell, we will offer to create a fungible market for the TGNT token, tethered on a 1:1 ratio with TRX. TRX holders who wish to support the organization can exchange TRX for TGNT. The TGNT rewards system will be based on the length of investment. Those who get in earliest, and keep their TRX with us, will get the highest rewards. Newcomers to the token will be on a lower pay tier. At the end of every quarter, we will begin a new tier for newcomers and current TGNT holders will ascend to the next rewards tier. You may divest from TGNT at any time at the guaranteed 1:1 ratio with TRX.
As principals of the TGNT organization, TGNT owners will have voting rights. The primary question for token referendums will be the amount of rewards per rewards tier.
The organization will have several responsibilities, both social and financial. Primarily it must maintain a reliable Full Node on the TRON blockchain. After core expenses are met, the community has several long-term considerations.
The Tron ecosystem will rely on application developers to create a need for TRX coins. Without applications, our investment in TRX will languish and become worthless. As partners in the Tron foundation, a Super Representative must be proactive in developing the Tron community through advocacy, advertisement, and applications. Spending money on these initiatives is not altruism, it is a self-serving gesture for the benefit of all TRX coinholders. We will prioritize the development of these initiatives in the early days of Tron main net so as to drive excitement and public awareness for the project.
After these responsibilities have been met, we can open our treasury to the TGNT voters who make it possible for us to continue operations, sending them TRX rewards as a dividend for their investment.
TGNT will empower token holders with more than just the management of the organization. One of the roles of Super Representative will be
To Influence Up to Date and Applicable Business Direction Decisions
Questions facing the Super Representative could be:
Ecosystem fee and block verification processes
Possible Project Partners or Vote for Partnership
Intended Market Demographics, Industries for Expansion
Changes to Protocol Specific Policy, Procedure or Technology
Updates or Creation of Bounties, Campaigns or Incentives
Token holders will participate in quarterly elections to select corporate officers and the Board of Directors. The executives of the organization (President, CEO, CTO, CFO) along with the board of directors will directly hire the remaining staff.
You are encouraged to join us and become a part of our group. It's people just like you who we want to include in this effort. Thanks!
Website: tron.communitynode.org
Telegram: TRON Community Node & Super Representative
Twitter: @community_node