TRON’s official memecoin, SunPump, on Sept 4th, has just announced a major upgrade to its ecosystem with the launch of SUN Boost.
The new feature promises to transform the TRON meme ecosystem, providing fresh opportunities for meme projects through a new yield farming model.
SUN Boost is expected to revolutionize the market by shifting from an approval-based system to a free listing approach, unlocking a world of potential for new meme projects.
The Journey of SunPump so far
An astounding 70,471 meme projects have been generated on SunPump since its beta launch on August 13th, with 3,709 new projects being made every day on average. SUN Boost, a function created especially to support meme coin yield farming, is likely to contribute to this quick rise.
SUN Boost seeks to maximise liquidity and give users more options with their meme assets. It comes along with delivering more equitable chances for meme projects inside the TRON ecosystem.
With SUN Boost, project teams will have complete control over their operations since they may alter LP (liquidity pool) trade costs, yield tokens, and lock periods. More liquidity providers should be drawn to the TRON platform as a result of these customisable choices, which should also promote long-term project development.
The Gauge + Bribes model is also being introduced, which will redistribute token rewards to new liquidity providers, creating a wider selection of high-quality projects for users to choose from.
SUN Boost’s Gauge mechanism links rewards to $veSUN, which is obtained by staking $SUN tokens, hence incentivising liquidity providers. A user gains more influence within the Gauge system the longer they stake $SUN and accumulate more $veSUN. This technique supports the liquidity of meme projects within TRON and increases the potential for users to win additional incentives.
More Power on the Governance Side
By buying their way into having more veSUN voting power, projects will be able to affect the governance side of things by influencing how awards are distributed.
As a result, veSUN holders have a significant say in how the ecosystem is run and can take part in bribery, token reward distribution, and other SUN.io protocol functions.
The SUN ecosystem and the TRON meme space have seen a substantial change with the advent of SUN Boost. DeFi within TRON is ready to soar to new heights with these creative updates, offering a bright future for meme projects and their users alike, the announcement said.
SUN’s Price Struggle To Keep Up
Despite this major announcement, the price of SUN has experienced a decline of over 2% in the last 24 hours, currently trading at $0.02728. Additionally, the 24-hour trading volume has slipped by nearly 26%, reflecting a temporary market cooldown.
Although there is some hesitancy in the market, SunPump’s explosive growth, which is demonstrated by the 70,471 meme projects indicates hope for the SUN token’s future and its place in TRON’s meme economy.