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TRON implements oracles and launches IEO on September 15

  • Public sale of the TRC-20 token of the BW.COM platform will be available for sale to the public on September 15.
  • TRON and Bridge will launch first oracle system in the TRON DeFi ecosystem.

The DeFi sector on TRON is at a decisive point in its future development as a competitor to Ethereum. According to a press release, the digital asset contract exchange platform BW.COM together with the TRON protocol will launch an IEO (Initial Exchange Offer) on September 15. The BW.COM token will be used to “pay for the services of the first public oracle system on the TRON network”.

In other words, the BRG token will function as a link between smart contracts on TRON with data acquired from the real world in a secure, decentralized and reliable way by the Bridge Oracle service. This data will feed the smart contracts operating the protocols on TRON’s DeFi sector. According to the release, the implementation of the Bridge Oracle service will have the following implications:

(…) serving up opportunities for enterprises and even governments to offer Oracle verification services and hyper secure and decentralized oracle networks to regulate information. The end result? Trustless smart contracts that establish, govern and execute agreements based on “perfect” data conditions.

Oracle service on TRON and its use cases

The Bridge Oracle service is led, according to the release, by Hakan Estavi as CEO and the pioneer developer of decentralized finance Keyvan Abedi. Following the token distribution policy set out in the Bridge Oracles Whitepaper, the IEO will put 20% of the total supply of the BRG token for the purchase of any investor globally, as mentioned above. The sale will start on the platform BW.COM on the aforementioned date from 15:00 (UTC+8) and will conclude on 16 September at 15:00 (UTC+8).

The sales schedule established by BW.COM informs investors that there will be a total issue of 10,000,000,000 BRGs. Of that figure, the total amount they will put up for purchase will be 2,000,000,000 CSDs. Each token will cost 0.004 on the USDT/BRG pair with a minimum purchase of 10 USDT and a maximum purchase of 200 USDT. Along with the above trading pair, USDT/BRG, BR.COM will enable the BRG/BTC trading pair. The platform will make future announcements to inform investors of deposits and withdrawal times.

The rest of the token supply will be distributed according to the following policy: 15% on a private sale, 10% to Bridge’s oracles founding team, 5% to consultants and advisors. In addition, 10% of the token has been dedicated to the development of the Bridge Oracle business model and marketing, another 10% was allocated for software and hardware development and 10% was allocated for operations. The remaining 20% will be reserved for staking pools as a method to encourage operations related to the oracles service with BRG. Below you can see in more detail the allocation of the total BRG supply.

TRON TRX

Source: https://bridge.link/Bridge_White_Paper.pdf

In addition to the use case referred to, the press release mentions 3 additional use cases that may be applied with the Bridge oracle services. First, payment of service upon delivery, insurance claims and delivery tracking shipping for merchants, businesses and consumers.

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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