Justin Sun took to twitter today to announce that Tron has had a coin burn of 182,359,804.286079 ERC-20 TronTokens, to reduce the supply of Ethereum based tokens from before Tron migrated to its own network.
The aim of the burn is to remove old ERC-20 TronTokens so they can no longer be converted into the new TRC-20 tokens. This seems prudent for the network, but as usual, many on twitter were still dissatisfied:
Ummmm if those are ERC-20 tokens and everything has been migrated and now are TRC-20 is that why it says they were worth a whopping $0???— Andy Stearns (@Vancouvertron99) January 2, 2019
You could burn 100,000,000,000 and wouldn’t make a difference if they aren’t worth anything......
These are the Erc20. We need a burn of the new coin— R.J. Jerome (@R_J_Jerome) January 3, 2019
Need to burn more!!! 10 billion at least so TRX has value. If BTC has a cap of 21 million coins then why does TRX have a cap of 99 BILLION??? Oh yeah that’s right BTC is worth $3800 a coin and TRX is only trading at .02! Way too many coins circulating! #BURNMORE— Sean Pappas (@NoMoreBoss13) January 3, 2019
Ultimately it is true that this burn shouldn't affect the price, but that also isn't the point of it. Instead the move seems to be aimed at keeping further inflation from occurring. For those interested, the actual burn transaction can be found on Etherscan here.