What is Sun (New)?
Sun (New) (SUN) is a multifunctional governance token on the SUN.io platform, which is TRON's first one-stop platform that supports stablecoin swap, token mining, and self-governance. The SUN token grants holders various rights and benefits, such as voting and governance rights in the community, value capture, and staking compensation. The SUN token underwent a redenomination and platform upgrade plan, which aims to lower the entry barrier of holding SUN tokens and facilitate the growth of the SUN ecosystem. The total supply of SUN tokens increased from 19,900,730 to 19,900,730,000 at a ratio of 1:1000, while the market cap of SUN remained unchanged.
How does Sun (New) work?
SUN.io operates as a one-stop platform that integrates on-chain token swaps, liquidity mining, stablecoin swaps, and decentralized autonomous organization (DAO) on the TRON public chain. The platform provides users with diversified services such as efficient and secure swaps among any tokens with competitive prices, efficient swaps among stablecoins with low slippage and fees, user-governed liquidity mining, and SUN token staking compensation. The SUN token plays a crucial role in platform governance, buying back and burning compensation, allocating compensation to liquidity providers, and other features. The platform also supports the buyback and burning of a certain amount of compensation from transaction fees on DEX.
What are the potential use cases for Sun (New)?
SUN.io strives to build an integrated DEX ecosystem with a high level of functionality, efficiency, and security by leveraging multiple transaction protocols. It provides various incentives for participants, including compensation of transaction fees allocated to liquidity market makers, liquidity mining of LP Tokens, and staking compensation of the SUN token. The burning mechanism of SUN and the voting rights of SUN holders together form a closed-loop ecosystem. The platform also allows users to stake SUN to obtain veSUN, and based on the amount of veSUN users hold, the platform allocates 50% of the transaction fees generated in the stablecoin pool to veSUN holders.
What is the history of Sun (New)?
SUN.io was founded to foster the growth of TRON’s DeFi ecosystem. Through community support and open-source smart contracts, SUN.io has established ties with other DeFi projects on the TRON public chain through decentralized liquidity mining. The platform has gone through several iterations and integrated functions such as token swaps, liquidity mining, stablecoin swaps, and decentralized autonomous organization (DAO) on the TRON public chain, focusing on building TRON’s DeFi ecosystem with decentralized exchanges (DEX) at its core.
