The Tron Foundation has proclaimed a $20 million buyback plan during a blog post published on June 25.

The buyback is supposedly a part of an initiative to bolster community activity and market stability.

The company is going to conduct the biggest Tron (TRX) token buyback plan thus far with the widest coverage within the secondary market, the post reads. The buyback is set to last for a year within the form of several batches totaling $20 million.

On January 1, 2020, the Tron Foundation can reveal its TRX holding, but the corporate additional says that it doesn't have any specific plans for the unlocked amount of TRX.

TRON is a foundation that was established to produce the event and maintenance of the TRON distributed network. TRX coin was at first supported the Ethereum network and developed via the ERC-20 protocol, however, was later transformed to become an independent cryptocurrency supported the Tron protocol.

Earlier in June, Tron proclaimed a soon-to-be-released upgrade of its blockchain-based platform, Odyssey, to version 3.6. Odyssey version 3.6 can reportedly contain new options like improved security and stability.

In May, Tron disclosed plans to develop a BitTorrent-based version of decentralized file system interplanetary file system. the event is reportedly a variant of the open source IPFS software system and can “allow users to receive and host storage on their computers with different people and businesses.”

Currently, TRX is that the 12th-largest digital currency on CoinMarketCap, with a market capitalization of around $1.2 billion. The altcoin is trading at around $0.035 at press time, having lost 6.59% over the past 24 hours.

To know more on Cryptocurrency and Blockchain events, follow us on Facebook, YouTube,  Twitter, LinkedIn, Reddit, Telegram, BitcoinTalk, and we are also on Medium now