Tron [TRX]: Will new upgrade foster stagnant staking activity? Gauging…
March provided a roller coaster ride for the Tron [TRX] ecosystem. It experienced two precipitous drops, first due to the wider market shakeup due to USD Coin’s [USDC] depegging, and next following the probe by United States Securities and Exchange Commission (SEC) on founder Justin Sun. Consequently, it lost over 6% of its value in the last month, data from CoinMarketCap revealed.
Read Tron’s [TRX] Price Prediction 2023-24
The network, though, saw steady growth in network traffic as the daily active users rose by 6% over the last month. However, a divergence was observed when it came to the development activity on the network, which plunged 36%.
This was a worrying sign, as it showed that the ecosystem was planning to push a major upgrade to its users.
Source: Token Terminal
Tron unveiled the test version of its new staking mechanism, Stake 2.0, and urged users to try out its features on Nile testnet to help them with feedback before a mainnet launch. However, it should be noted that the decision was still at a proposal stage, voting for which is supposed to happen in April.
As per the proposal, the new mechanism was needed to minimize the complexities of staking and resource management in the existing system. Stake 2.0 is intended to bring about significant decoupling between staking and delegating operations, thus ensuring a hassle-free experience if one wants to re-delegate resources.
Tron stated that after the proposal takes effect, staking can only be done through Stake 2.0 although the funds already staked can be redeemed using the unstake method of Stake 1.0.
Meanwhile, the proposal has been facing a lot of backlash on GitHub, with several community members questioning aspects such as infrastructure preparedness and
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