If you've missed the news, yesterday was the first day of "Genesis Mining" for Tron's new SUN token, part of its continued push into Defi. Once you've safely found a chair and are far away from anything breakable that you might knock over, take a look at the day's volume on Tron. Within just a few hours of starting earlier today, billions of TRX found their way staking for SUN tokens.
As I was busy with work and generally indecisive about such things, I have yet to stake any Tron for SUN. I'm not sure what the right choice is, but here is one interesting stat to think about:
On September 1st, there were around 27.4 billion TRX frozen on the network.
On September 2nd, there were only around 17.2 billion TRX frozen.
That is a huge amount taken out of freezing and voting!
On the same note, 9/2/2020 set a record for lowest freeze rate on record at 17.07% of supply, compared to 27.28% the day before. Looking already at 9/3/2020, there is a new record low of 16.78% frozen. Source: Tronscan
Digging a bit deeper, this could have a major effect on any Tron that is still frozen and voting because of how rewards are distributed. For example day over day, my staking reward increased by 13.38%! It might be even higher next time because the reduction of frozen TRX will be in full effect across 4 rounds (it all depends on when in the voting/freezing cycle those billions of Tron were unstaked). And if there are even more TRX staked for SUN, the number may increase further.
Overall, even if I continue to be indecisive and drag my feet on whether or not to stake for SUN, I might see an increased reward for freezing and voting while I wait. I'm very curious how future rewards will be over the next 14 days (the amount of time to stake for SUN), so I am looking forward to today's payout!
Thanks for reading! What do you think - freezing, staking for SUN, or something else?
(Note: I accidentally posted this before completion last night, but took it down to finish. Sorry for any confusion!)