Sun Token

Sun Token

SUN
$0.013660053%2.09

Key Metrics

Price$0.013660053
Real Volume (24H)$33,293,200.08
Marketcap$135,350,946.77
Fully Diluted ValuationN/A
ATH$66.45
ATH Date9/11/2020, 6:18:35 AM
ATL$0.00462303
ATL Date11/14/2022, 7:45:13 AM
Circulating Supply9B
Total Supply20B
WebsiteN/A
WhitepaperN/A
Popularity Rank377
Chart
What is Sun Token?

The Sun Token, also known as SUN, is a digital currency that is primarily used to promote the development of the TRON's DeFi ecosystem. SUN.io was created with the goal of connecting community members and open-source smart contracts to other DeFi projects on the TRON public chain through decentralized liquidity mining.

Liquidity mining is a process where crypto users lend their assets to a specified decentralized exchange (DEX) in return for rewards. It utilizes smart contracts, which are digital agreements that run on the blockchain, similar to traditional contracts written on paper.

SUN.io aims to create a DEX ecosystem that is more functional, profitable, and secure by using various transaction protocols. The token offers a variety of incentives for its users, such as transaction fee rewards for liquidity market creators, staking rewards for SUN coin holders, and liquidity mining of LP tokens. A liquidity pool, or LP, is a collection of cryptocurrencies or tokens that are locked in smart contracts, allowing trading between different assets on a DEX.

According to the whitepaper, SUN.io includes on-chain token swaps, stablecoin swaps, liquidity mining, and more on the TRON chain, providing users with multiple one-stop services. These services include efficient and reliable token exchanges with better prices through SunSwap, helpful stablecoin swaps with less slippage and costs through the stablecoin pool, user-driven liquidity mining that can be increased through governance mining, and SUN token staking awards received from voting rights (veSUN).

One of the unique features of SunSwap is the buyback and burning of a specific amount of rewards earned from transaction fees on DEX. This is done through smart contracts, where a portion of the transaction fees (around 0.05% of each transaction) is dedicated as LP tokens. These tokens are then swapped for SUN at a predetermined rate and held in a specific address to be burned. The SUN tokens in this address are burned by moving them to the blackhole address of TRON every month. This process, known as token burning, reduces the availability and increases the market value of the token.

Additionally, SUN connects various heterogeneous blockchain networks and allows for the cross-chain swap of assets. This provides users with a more convenient, cost-effective, and secure way to exchange assets across different blockchains.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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