by: John P. NjuiPosted on:

Binance to Adjust Tron (TRX) Withdrawal Fee According to Community Proposal

Binance, the largest crypto exchange in terms of trade volume and users, has announced that it will adjust its Tron (TRX) based withdrawals per proposal 83 set and passed by the Tron community. The proposal is set to change the energy charging mechanism to a dynamic energy model.

The Dynamic energy model states that:

If a contract uses too many resources in one cycle, then the next cycle in this contract, a certain percentage of punitive consumption will be added, and users who send the same transaction to this contract will cost more energy than before.

When the contract uses resources reasonably, the energy consumption generated by the user calling the contract will gradually return to normal.

Tron’s Dynamic Energy Model Will Weed out Unnecessary Low-Value Transactions

The motivation for the dynamic model is based on the fact that 85% of the resource consumption on Tron is concentrated on a few smart contracts. Some of the said transactions that call these contracts are fake and of low value. The dynamic energy model ‘increases low-value transaction costs without affecting other dApps while ensuring the robustness, diversity, and balanced development of the ecosystem.’

Binance’s New Withdrawal Fees

Consequently, Binance will be adjusting withdrawal fees as follows.

  • Withdrawal fee of Tron-based USDT, USDC and TUSD will increase from 1U to 2.6U
  • The minimum withdrawal fee of Tron-based BUSD will increase from 0.8U to 2.2U
  • The minimum withdrawal fee of TRX will increase from 1 TRX to 15 TRX
  • For BTTC, JST, NFT, SUN and WIN, the minimum withdrawal fee will be the equivalent of 40 TRX

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