Share this article
$3 Billion Blockchain Tron Kicks Off Token Migration
Tron, a top ten cryptocurrency, will embark on a token migration from ethereum to its new mainnet on Thursday.
Updated Sep 13, 2021, 8:05 a.m. Published Jun 21, 2018, 7:35 p.m.
The 10th most valuable cryptocurrency in the world is set to commence its token migration process on Thursday.
Created by former Ripple representative Justin Sun, Tron aims to build infrastructure for a "truly decentralized internet" that can host decentralized applications (dapps). The project, which started on the ethereum blockchain and launched its own blockchain in late May, has positioned itself as a competitor to its former host.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
As such, the token migration is an intermediary step in what Tron has called its progression towards "independence," or in other words, the completion of its departure from ethereum and the activation of its mainnet technology.
Though the token migration is now a key part of the realization of Tron's technology, the original iteration of the project's roadmap did not include a token swap, much less the launch of an original Tron mainnet.
Sun initially intended for the project to remain on ethereum, however, according to a May Medium post, "network issues" triggered the decision to "detach" from the protocol.
He wrote further:
"This is the only way to propel the industry into a stage of large-scale, rapid growth...Independence from ethereum is our answer to the calling of the blockchain era."
The implementation of the network is likely to be contingent upon the success of the events of the upcoming week, which Tron told CoinDesk users can watch via its blog and social channels.
Whether the protocol will measure up to Sun's claims after the activation, however, remains to be seen.
Implications for token holders
For token holders, the swap merely means that the placeholder ERC-20 TRX tokens Tron distributed during its development phase will be switched out for native "TRON-20" TRX tokens.
Likewise, the swap means the balance of tokens in users' ethereum wallets will subsequently be transmitted to their Tron wallets.
Unlike other projects, such as EOS, which provide users with the option to carry out the swap manually, Tron's migration process will be facilitated wholly by exchanges. The process commences on Thursday, and users will have until June 24 to deposit their ERC-20 TRX tokens to one of 30 participating exchanges.
Users who already hold their tokens on a participating exchange do not need to take any action.
From June 22 to June 25, users will be unable to withdraw their TRX from exchanges. On June 24, the exchanges will take "snapshots" of users token balances to ensure the sums transfer correctly, and on June 25, both TRX deposits and withdrawals on exchanges will be frozen. Users will still be able to trade TRX during this period.
According to Tron, the completion of the token migration on June 25 will mark the point at which the Tron mainnet will become "fully independent" from the ethereum blockchain.
Following "Independence Day," users will be able to resume deposits and withdrawals on June 26 in time for Tron's "super representative election."
Similar to EOS' block producer election, this process requires users to stake or "freeze" their TRON20 TRX tokens to vote for block validators to operate in Tron's delegated proof-of-stake (DPoS) consensus system.
Upon the completion of the election, the Tron blockchain will be fully activated.
Rubber ducks image via Shutterstock
Sizin için daha fazlası
Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Sizin için daha fazlası
Crypto Markets Today: Bitcoin Slips Back Toward Danger Zone Ahead of Fed Decision
Bitcoin surrendered gains from earlier in the week, fell back toward $90,000 as traders braced for Wednesday’s Federal Reserve rate decision.
Bilinmesi gerekenler:
- A 25 basis-point interest-rate cut has been priced in for weeks, and risk assets could drop on the news if no fresh catalysts emerge.
- Tokens like HYPE, STRK, QNT and KAS fell 6%–9% in 24 hours
- CoinMarketCap’s altcoin-season index sits at a cycle low of 18/100.
- Bitcoin is down 20% over 90 days and more than half of the top-100 tokens have fallen at least 40%. FET and TIA are among the worst performers while ZEC, DASH, BNB and BCH stand out as rare stabilizers.
Top Stories
