What is Sun (New)? All You Need to Know About SUN
Sun (New) (SUN) is a TRON-based governance token for staking, liquidity mining, and participating in TRON’s decentralized finance ecosystem.
Sun.io is a decentralized finance (DeFi) platform developed within the TRON blockchain ecosystem. Initially launched to promote decentralized liquidity mining, it has expanded its services to include stablecoin swaps and governance mechanisms, positioning itself as a multi-functional platform in the TRON DeFi landscape. Following its acquisition of JustSwap, the platform now integrates token swaps, liquidity mining, stablecoin swaps, and decentralized autonomous organization (DAO) functionalities on the TRON public chain. Focused on building TRON’s DeFi ecosystem with decentralized exchanges (DEX) at its core, it rewards liquidity providers and employs buyback and burn mechanisms. SUN plays a critical role in the platform’s governance and reward structure.
What is Sun (New) (SUN)?
The history of SUN (New) begins with its original launch as SUNOLD in September 2020 through Genesis Mining, where users could stake TRX to earn tokens. Shortly after, official mining pools were introduced, allowing users to mine SUNOLD through various staking methods. In May 2021, the SUN Redenomination Plan was implemented to lower the entry barrier for users. The redenomination swapped old SUN tokens with new SUN tokens at a 1:1000 ratio, maintaining the total market cap.
Sun.io underwent a platform upgrade, becoming TRON’s first one-stop platform supporting stablecoin swaps, token mining, and decentralized governance. The introduction of 3pool, which allowed for efficient swaps between stablecoins, and the launch of new mining models solidified SUN’s place in the DeFi landscape. Users could stake SUN tokens for voting rights (veSUN), boosting liquidity pools, and participating in governance mining.
In August 2021, the platform introduced the USDC pool, and governance mining expanded further by allowing users to influence liquidity pool weights via veSUN. The acquisition of JustSwap in October 2021 marked an important moment, positioning SUN as the largest decentralized exchange on TRON.
Looking forward, Sun.io aims to improve asset utilization, reduce impermanent loss, and facilitate cross-chain trading, connecting multiple blockchain networks to provide a seamless and cost-effective trading experience for users. SUN is critical in the platform’s governance, rewards system, and DeFi ecosystem.
Justin Sun, a prominent figure in the cryptocurrency space, is the founder of the Sun (SUN) token and the TRON blockchain network.
How Does Sun.io Work? Technology and StableSwap Model
Sun.io’s platform operates on the SunSwap Automated Market Maker (AMM) model, a widely used transaction protocol in the DeFi space. Unlike traditional exchanges relying on order books, SunSwap utilizes a constant-product mathematical formula to determine asset prices and execute trades automatically. This system ensures seamless trading while maintaining liquidity in the pool. In the AMM model, liquidity refers to the total amount of two tokens in a smart contract associated with a trading pair, and liquidity pools are collections of assets that facilitate these transactions. SunSwap allows users to become liquidity providers (LPs) by staking two tokens simultaneously to create a liquidity pool. The system mints LP tokens, representing the staked liquidity, which can later be used or burned when withdrawing liquidity from the pool.
Source: sun.io
The prices of assets within the pool are determined by the relative amounts of the two tokens, maintaining a constant product. Sun.io operates on several versions of SunSwap, starting from V1 and V1.5, where one token had to be TRX. In SunSwap V2, any two tokens can form a trading pair, allowing for more flexibility in liquidity creation. SunSwap V3 further innovates by introducing a concentrated liquidity model, allowing users to allocate liquidity within a specific price range, optimizing trading efficiency. This model introduces virtual liquidity to enhance trading dynamics, making SunSwap one of the more flexible AMM platforms in DeFi.
Sun.io also supports efficient liquidity management through increased liquidity pooling, swapping, and withdrawing mechanisms. Liquidity pools grow and evolve as more users participate, allowing LPs to adjust their token shares based on market dynamics. Swapping tokens on Sun.io is equally intuitive, where a user can exchange one token for another within a liquidity pool using the constant-product formula. The system is designed to optimize liquidity usage, minimize slippage, and offer decentralized finance (DeFi) users a highly scalable trading environment.
StableSwap Model
The StableSwap model on Sun.io is specifically designed for stablecoin trading. While SunSwap facilitates general token swaps, StableSwap minimizes slippage and offers low-fee swaps between stablecoins. Stablecoins such as USDT, USDJ, and USDC, which maintain a relatively constant value, are well-suited for this model. StableSwap operates using a combination of constant sum and constant product formulas, ensuring liquidity is always available at any price point, unlike traditional AMM models where liquidity can be exhausted.
The constant sum formula allows for stable pricing with minimal slippage when tokens are traded within a specific price range, making it ideal for stablecoins with minimal price fluctuations. However, the model seamlessly transitions to a constant product formula when liquidity approaches exhaustion, ensuring that tokens are always available for trading, even in high-demand scenarios. This unique blend of models makes StableSwap highly efficient for stablecoin exchanges, drastically reducing the risk of impermanent loss for liquidity providers.
Source: sun.io
Furthermore, the StableSwap model is optimized for multi-token market-making, allowing for more complex liquidity pool configurations involving multiple stablecoins. The system adjusts liquidity and pricing dynamically, maintaining balance in the liquidity pool while enabling efficient swaps. As stablecoins continue to grow, the StableSwap model on Sun.io is a crucial tool for users seeking low-risk, cost-effective stablecoin trading solutions on the TRON blockchain.
Sun.io Main Features
Sun.io stands out in the decentralized finance (DeFi) landscape with its advanced features that cater to liquidity providers, token holders, and decentralized governance participants. Its functionality is built to empower users, incentivize long-term participation, and support a robust ecosystem for the TRON network. Below are three key features that make Sun.io a premier platform for decentralized finance solutions.
veSUN
veSUN is a governance token that offers numerous benefits to those who stake SUN tokens. Users earn veSUN by staking SUN for a specific duration, with the amount of veSUN granted depending on the time staked. The longer the stake, the greater the rewards. veSUN holders enjoy transaction fee rewards from stablecoin pools, the ability to boost liquidity pool mining, and voting rights for determining the weights of liquidity pools. These mechanisms create a more participatory ecosystem, where veSUN holders can significantly influence liquidity mining speeds and secure a steady flow of rewards.
Source: sun.io
Incentives
The Sun.io platform provides a wide range of incentives for its users, with governance mining at the core. Users can stake LP tokens for mining rewards, which support the liquidity pools crucial to the stablecoin swap system. Additionally, the platform distributes 50% of transaction fees generated in the stablecoin pool to veSUN holders, further incentivizing participation. By holding SUN and staking it for veSUN, users gain a multiplier effect on their mining rewards, creating a direct benefit for long-term involvement in the platform’s ecosystem.
SUN DAO Governance
Sun.io embraces decentralization through its decentralized DAO (Decentralized Autonomous Organization) governance system, empowering token holders to participate in decision-making. Through transparent voting mechanisms, SUN token holders can propose and vote on changes to the platform, contributing to its continuous evolution. The DAO encourages collaboration and innovation, ensuring that the platform’s direction reflects the collective will of its users. This model helps Sun.io maintain a secure, transparent, and community-driven ecosystem, aligning governance with the needs of its participants.
Source: sun.io
SunBoost
The SUN platform has entered its second phase of governance mining, allowing users to lock their SUN tokens and earn veSUN, which grants voting rights for determining liquidity pool weights. This decentralized mechanism enables users to influence the allocation of mining rewards among 18 liquidity pools, with voting snapshots taken every Thursday. Users who lock SUN can boost their yield farming rewards up to 2.5x, depending on their veSUN holdings. Additionally, veSUN holders earn TUSD rewards from stablecoin pools, creating a dual incentive for liquidity provision and long-term staking. At the same time, governance decisions ensure fair distribution of rewards based on community input and pool weight voting.
Source: sun.io
SunPump
aSunPump is the first dedicated platform on TRON for the fair launch and trading of meme coins. It provides a user-friendly, secure, and low-cost environment for creators to launch their own meme tokens. The platform aims to boost user engagement and autonomy in trading by offering streamlined token issuance and easy browsing of meme coin offerings. SunPump ensures transparent and direct access to token purchases through a joint curve pricing mechanism. Users also benefit from flexible trading options, allowing them to sell tokens whenever desired. This innovative system combines fairness, simplicity, and accountability, elevating the experience of creators and traders in the growing meme coin ecosystem.
Source: sunpump.meme
What is the SUN Coin?
SUN is Sun.io’s governance token, used for staking, voting, and liquidity mining rewards. Its total supply is 19,900,730,000 units, of which 9,951,640,722 are already in circulation (September 2024).
The SUN coin, rebranded in May 2021, serves as the governance token for the Sun.io platform, playing a crucial role in TRON’s decentralized finance (DeFi) ecosystem. Following a token redenomination at a 1:1000 ratio, SUN introduced new services such as decentralized stablecoin swaps, token mining, and community self-governance. The redenomination and platform upgrade made SUN a multifunctional token, providing holders with voting rights, governance participation, value capture, and staking rewards, aligning with similar tokens like CRV (Curve DAO) and EPS (Ellipsis).
SUN’s distribution follows two phases: Genesis Mining and Governance Mining, ensuring decentralized distribution across the ecosystem. Over 47% of SUN tokens remain undistributed, incentivizing user engagement to support ecosystem growth. The platform employs a burning mechanism, where transaction fees from SunSwap are partially reserved, swapped for SUN, and burned monthly, ensuring continuous value generation for participants.
Source: sun whitepaper
As a key player in TRON’s DeFi landscape, SUN powers liquidity mining, staking, and governance decisions, solidifying its role in decentralized exchanges and decentralized autonomous organizations (DAOs). With a growing range of use cases, including stablecoin swaps and advanced governance features, SUN is positioned to maintain a leading role in TRON’s DeFi development while offering its holders long-term benefits and sustainable rewards. The evolving platform aims to create an increasingly robust and secure ecosystem for its community.
SUN Use Cases
As a multifunctional governance token, SUN provides users with numerous utilities that encourage participation and foster ecosystem growth. Below are three key use cases that highlight its importance within the TRON network:
Governance and Voting Rights: SUN holders have the ability to participate in governance by voting on proposals that impact the direction and development of the Sun.io platform. These decisions include adjusting system parameters, voting for liquidity pool weights, and influencing overall ecosystem upgrades, giving users direct control over platform governance.
Liquidity Mining and Staking Rewards: SUN tokens can be staked in exchange for veSUN, which grants users boosted rewards from liquidity mining pools and stablecoin transactions. veSUN holders also receive 50% of the transaction fees from stablecoin pools, allowing them to earn passive income by participating in the ecosystem’s liquidity provisioning.
Token Burning Mechanism: The SUN token incorporates a buyback and burning mechanism funded by a portion of transaction fees on SunSwap. This mechanism reduces the circulating supply of SUN, thereby increasing scarcity and potentially enhancing the long-term value of the token for holders.
These use cases position SUN as an essential component in TRON’s DeFi infrastructure, driving engagement and value creation across the ecosystem.
Is SUN a Good Investment?
SUN offers potential for growth by being an integral part of TRON’s DeFi ecosystem, supporting liquidity mining, governance, and stablecoin swaps. Its burning mechanism reduces token supply over time, which could create scarcity and increase value. However, the reliance on TRON’s ecosystem limits its appeal, especially to investors seeking broader cross-chain opportunities. Additionally, the volatility of the crypto market and governance risks could affect its stability. SUN’s success depends heavily on the growth and adoption of TRON’s network and DeFi projects, which may pose challenges.
How to Own SUN?
To own SUN, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy SUN.
News on Sun (New)
This news was released on the 7th of September 2024, announcing that SUN.io has completed Phase 1 of its buyback and burn initiative. Using all revenue generated from SunPump, 161,015,070.16 SUN tokens were bought back and burned as of September 4, 2024. Since December 15, 2021, 431,146,104.55 SUN tokens have been burned, including 270,131,034.39 from SunSwap V2 and 161,015,070.16 from SunPump. This burn process aims to support the long-term health of the SUN ecosystem.
Useful References
For the latest updates about Sun (New), you can visit:
Take Action on SUN
Check out SUN price today, and start trading your favorite currency pairs.
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What is Sun (New)? All You Need to Know About SUN
What is Sun (New) (SUN)?
How Does Sun.io Work? Technology and StableSwap Model
Sun.io Main Features
What is the SUN Coin?
Is SUN a Good Investment?
How to Own SUN?
News on Sun (New)
Useful References
Take Action on SUN
Sun (New) (SUN) is a TRON-based governance token for staking, liquidity mining, and participating in TRON’s decentralized finance ecosystem.
Sun.io is a decentralized finance (DeFi) platform developed within the TRON blockchain ecosystem. Initially launched to promote decentralized liquidity mining, it has expanded its services to include stablecoin swaps and governance mechanisms, positioning itself as a multi-functional platform in the TRON DeFi landscape. Following its acquisition of JustSwap, the platform now integrates token swaps, liquidity mining, stablecoin swaps, and decentralized autonomous organization (DAO) functionalities on the TRON public chain. Focused on building TRON’s DeFi ecosystem with decentralized exchanges (DEX) at its core, it rewards liquidity providers and employs buyback and burn mechanisms. SUN plays a critical role in the platform’s governance and reward structure.
What is Sun (New) (SUN)?
The history of SUN (New) begins with its original launch as SUNOLD in September 2020 through Genesis Mining, where users could stake TRX to earn tokens. Shortly after, official mining pools were introduced, allowing users to mine SUNOLD through various staking methods. In May 2021, the SUN Redenomination Plan was implemented to lower the entry barrier for users. The redenomination swapped old SUN tokens with new SUN tokens at a 1:1000 ratio, maintaining the total market cap.
Sun.io underwent a platform upgrade, becoming TRON’s first one-stop platform supporting stablecoin swaps, token mining, and decentralized governance. The introduction of 3pool, which allowed for efficient swaps between stablecoins, and the launch of new mining models solidified SUN’s place in the DeFi landscape. Users could stake SUN tokens for voting rights (veSUN), boosting liquidity pools, and participating in governance mining.
In August 2021, the platform introduced the USDC pool, and governance mining expanded further by allowing users to influence liquidity pool weights via veSUN. The acquisition of JustSwap in October 2021 marked an important moment, positioning SUN as the largest decentralized exchange on TRON.
Looking forward, Sun.io aims to improve asset utilization, reduce impermanent loss, and facilitate cross-chain trading, connecting multiple blockchain networks to provide a seamless and cost-effective trading experience for users. SUN is critical in the platform’s governance, rewards system, and DeFi ecosystem.
Justin Sun, a prominent figure in the cryptocurrency space, is the founder of the Sun (SUN) token and the TRON blockchain network.
How Does Sun.io Work? Technology and StableSwap Model
Sun.io’s platform operates on the SunSwap Automated Market Maker (AMM) model, a widely used transaction protocol in the DeFi space. Unlike traditional exchanges relying on order books, SunSwap utilizes a constant-product mathematical formula to determine asset prices and execute trades automatically. This system ensures seamless trading while maintaining liquidity in the pool. In the AMM model, liquidity refers to the total amount of two tokens in a smart contract associated with a trading pair, and liquidity pools are collections of assets that facilitate these transactions. SunSwap allows users to become liquidity providers (LPs) by staking two tokens simultaneously to create a liquidity pool. The system mints LP tokens, representing the staked liquidity, which can later be used or burned when withdrawing liquidity from the pool.
Source: sun.io
The prices of assets within the pool are determined by the relative amounts of the two tokens, maintaining a constant product. Sun.io operates on several versions of SunSwap, starting from V1 and V1.5, where one token had to be TRX. In SunSwap V2, any two tokens can form a trading pair, allowing for more flexibility in liquidity creation. SunSwap V3 further innovates by introducing a concentrated liquidity model, allowing users to allocate liquidity within a specific price range, optimizing trading efficiency. This model introduces virtual liquidity to enhance trading dynamics, making SunSwap one of the more flexible AMM platforms in DeFi.
Sun.io also supports efficient liquidity management through increased liquidity pooling, swapping, and withdrawing mechanisms. Liquidity pools grow and evolve as more users participate, allowing LPs to adjust their token shares based on market dynamics. Swapping tokens on Sun.io is equally intuitive, where a user can exchange one token for another within a liquidity pool using the constant-product formula. The system is designed to optimize liquidity usage, minimize slippage, and offer decentralized finance (DeFi) users a highly scalable trading environment.
StableSwap Model
The StableSwap model on Sun.io is specifically designed for stablecoin trading. While SunSwap facilitates general token swaps, StableSwap minimizes slippage and offers low-fee swaps between stablecoins. Stablecoins such as USDT, USDJ, and USDC, which maintain a relatively constant value, are well-suited for this model. StableSwap operates using a combination of constant sum and constant product formulas, ensuring liquidity is always available at any price point, unlike traditional AMM models where liquidity can be exhausted.
The constant sum formula allows for stable pricing with minimal slippage when tokens are traded within a specific price range, making it ideal for stablecoins with minimal price fluctuations. However, the model seamlessly transitions to a constant product formula when liquidity approaches exhaustion, ensuring that tokens are always available for trading, even in high-demand scenarios. This unique blend of models makes StableSwap highly efficient for stablecoin exchanges, drastically reducing the risk of impermanent loss for liquidity providers.
Source: sun.io
Furthermore, the StableSwap model is optimized for multi-token market-making, allowing for more complex liquidity pool configurations involving multiple stablecoins. The system adjusts liquidity and pricing dynamically, maintaining balance in the liquidity pool while enabling efficient swaps. As stablecoins continue to grow, the StableSwap model on Sun.io is a crucial tool for users seeking low-risk, cost-effective stablecoin trading solutions on the TRON blockchain.
Sun.io Main Features
Sun.io stands out in the decentralized finance (DeFi) landscape with its advanced features that cater to liquidity providers, token holders, and decentralized governance participants. Its functionality is built to empower users, incentivize long-term participation, and support a robust ecosystem for the TRON network. Below are three key features that make Sun.io a premier platform for decentralized finance solutions.
veSUN
veSUN is a governance token that offers numerous benefits to those who stake SUN tokens. Users earn veSUN by staking SUN for a specific duration, with the amount of veSUN granted depending on the time staked. The longer the stake, the greater the rewards. veSUN holders enjoy transaction fee rewards from stablecoin pools, the ability to boost liquidity pool mining, and voting rights for determining the weights of liquidity pools. These mechanisms create a more participatory ecosystem, where veSUN holders can significantly influence liquidity mining speeds and secure a steady flow of rewards.
Source: sun.io
Incentives
The Sun.io platform provides a wide range of incentives for its users, with governance mining at the core. Users can stake LP tokens for mining rewards, which support the liquidity pools crucial to the stablecoin swap system. Additionally, the platform distributes 50% of transaction fees generated in the stablecoin pool to veSUN holders, further incentivizing participation. By holding SUN and staking it for veSUN, users gain a multiplier effect on their mining rewards, creating a direct benefit for long-term involvement in the platform’s ecosystem.
SUN DAO Governance
Sun.io embraces decentralization through its decentralized DAO (Decentralized Autonomous Organization) governance system, empowering token holders to participate in decision-making. Through transparent voting mechanisms, SUN token holders can propose and vote on changes to the platform, contributing to its continuous evolution. The DAO encourages collaboration and innovation, ensuring that the platform’s direction reflects the collective will of its users. This model helps Sun.io maintain a secure, transparent, and community-driven ecosystem, aligning governance with the needs of its participants.
Source: sun.io
SunBoost
The SUN platform has entered its second phase of governance mining, allowing users to lock their SUN tokens and earn veSUN, which grants voting rights for determining liquidity pool weights. This decentralized mechanism enables users to influence the allocation of mining rewards among 18 liquidity pools, with voting snapshots taken every Thursday. Users who lock SUN can boost their yield farming rewards up to 2.5x, depending on their veSUN holdings. Additionally, veSUN holders earn TUSD rewards from stablecoin pools, creating a dual incentive for liquidity provision and long-term staking. At the same time, governance decisions ensure fair distribution of rewards based on community input and pool weight voting.
Source: sun.io
SunPump
aSunPump is the first dedicated platform on TRON for the fair launch and trading of meme coins. It provides a user-friendly, secure, and low-cost environment for creators to launch their own meme tokens. The platform aims to boost user engagement and autonomy in trading by offering streamlined token issuance and easy browsing of meme coin offerings. SunPump ensures transparent and direct access to token purchases through a joint curve pricing mechanism. Users also benefit from flexible trading options, allowing them to sell tokens whenever desired. This innovative system combines fairness, simplicity, and accountability, elevating the experience of creators and traders in the growing meme coin ecosystem.
Source: sunpump.meme
What is the SUN Coin?
SUN is Sun.io’s governance token, used for staking, voting, and liquidity mining rewards. Its total supply is 19,900,730,000 units, of which 9,951,640,722 are already in circulation (September 2024).
The SUN coin, rebranded in May 2021, serves as the governance token for the Sun.io platform, playing a crucial role in TRON’s decentralized finance (DeFi) ecosystem. Following a token redenomination at a 1:1000 ratio, SUN introduced new services such as decentralized stablecoin swaps, token mining, and community self-governance. The redenomination and platform upgrade made SUN a multifunctional token, providing holders with voting rights, governance participation, value capture, and staking rewards, aligning with similar tokens like CRV (Curve DAO) and EPS (Ellipsis).
SUN’s distribution follows two phases: Genesis Mining and Governance Mining, ensuring decentralized distribution across the ecosystem. Over 47% of SUN tokens remain undistributed, incentivizing user engagement to support ecosystem growth. The platform employs a burning mechanism, where transaction fees from SunSwap are partially reserved, swapped for SUN, and burned monthly, ensuring continuous value generation for participants.
Source: sun whitepaper
As a key player in TRON’s DeFi landscape, SUN powers liquidity mining, staking, and governance decisions, solidifying its role in decentralized exchanges and decentralized autonomous organizations (DAOs). With a growing range of use cases, including stablecoin swaps and advanced governance features, SUN is positioned to maintain a leading role in TRON’s DeFi development while offering its holders long-term benefits and sustainable rewards. The evolving platform aims to create an increasingly robust and secure ecosystem for its community.
SUN Use Cases
As a multifunctional governance token, SUN provides users with numerous utilities that encourage participation and foster ecosystem growth. Below are three key use cases that highlight its importance within the TRON network:
Governance and Voting Rights: SUN holders have the ability to participate in governance by voting on proposals that impact the direction and development of the Sun.io platform. These decisions include adjusting system parameters, voting for liquidity pool weights, and influencing overall ecosystem upgrades, giving users direct control over platform governance.
Liquidity Mining and Staking Rewards: SUN tokens can be staked in exchange for veSUN, which grants users boosted rewards from liquidity mining pools and stablecoin transactions. veSUN holders also receive 50% of the transaction fees from stablecoin pools, allowing them to earn passive income by participating in the ecosystem’s liquidity provisioning.
Token Burning Mechanism: The SUN token incorporates a buyback and burning mechanism funded by a portion of transaction fees on SunSwap. This mechanism reduces the circulating supply of SUN, thereby increasing scarcity and potentially enhancing the long-term value of the token for holders.
These use cases position SUN as an essential component in TRON’s DeFi infrastructure, driving engagement and value creation across the ecosystem.
Is SUN a Good Investment?
SUN offers potential for growth by being an integral part of TRON’s DeFi ecosystem, supporting liquidity mining, governance, and stablecoin swaps. Its burning mechanism reduces token supply over time, which could create scarcity and increase value. However, the reliance on TRON’s ecosystem limits its appeal, especially to investors seeking broader cross-chain opportunities. Additionally, the volatility of the crypto market and governance risks could affect its stability. SUN’s success depends heavily on the growth and adoption of TRON’s network and DeFi projects, which may pose challenges.
How to Own SUN?
To own SUN, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy SUN.
News on Sun (New)
This news was released on the 7th of September 2024, announcing that SUN.io has completed Phase 1 of its buyback and burn initiative. Using all revenue generated from SunPump, 161,015,070.16 SUN tokens were bought back and burned as of September 4, 2024. Since December 15, 2021, 431,146,104.55 SUN tokens have been burned, including 270,131,034.39 from SunSwap V2 and 161,015,070.16 from SunPump. This burn process aims to support the long-term health of the SUN ecosystem.
Useful References
For the latest updates about Sun (New), you can visit:
Take Action on SUN
Check out SUN price today, and start trading your favorite currency pairs.
Related articles
What Are Altcoins?
What Is Ethereum 2.0? Understanding The Merge