SUNDOG

TRON

Rise

The TRON blockchain is the latest to bring innovation in memecoins, with SunPump. This new memecoin platform, backed by Justin Sun, has taken off, generating over&nbsp;<a style="text-decoration:none" href="https://dune.com/hashed_official/sunpumpmeme" rel="noopener noreferrer nofollow">$1.1 million</a> in revenue within just 11 days of its launch according to Dune Analytics data.&nbsp;
But what exactly is SunPump? Let’s delve into the details.
<h2 dir="ltr" id="span-span-the-launch-of-sunpump-span-span">The Launch of SunPump</h2>
SunPump was launched on August 9, 2024, as TRON’s first dedicated memecoin launchpad. The platform allows users to create and trade memecoins with ease, all while leveraging TRON’s blockchain technology.&nbsp;
&nbsp;
Since its launch, SunPump generated total revenues of more than 7 million TRX, according to data from Dune, a web analytics platform.
&nbsp;
One of its standout features is the bonding curve mechanism, which facilitates purchases and ensures continuous liquidity.
<h2 dir="ltr" id="span-span-the-bonding-curve-mechanism-span-span">The Bonding Curve Mechanism</h2>
<a style="text-decoration:none" href="https://docs.sun.io/get-start/sunpump" rel="noopener noreferrer nofollow">SunPump</a> employs a unique bonding curve mechanism designed to provide continuous liquidity for the tokens created on the platform.&nbsp;
&nbsp;
When a project reaches 100% of its bonding curve at a value of $69,420, the smart contract automatically deposits around 100,000 TRX and 200 million tokens into the SunSwap V2 liquidity pool. This process reportedly ensures that there is always liquidity available for trading, reducing the risks associated with price volatility.
&nbsp;
Moreover, SunPump charges a creation fee of approximately 20 TRX (about $2.60 at current prices) and imposes a 1% trading fee. These fees are designed to maintain the platform’s sustainability while also contributing to the liquidity pool.
<h2 dir="ltr" id="span-span-sunpump-vs-solana-s-pump-fun-span-span">SunPump vs. Solana’s Pump.fun</h2>
Justin Sun, the brain behind SunPump and Tron founder, outlined the differences between his platform and Solana’s&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/what-is-pump-fun" rel="noopener noreferrer nofollow">Pump.fun</a>. While both platforms aim to simplify the creation and trading of memecoins, SunPump offers distinct advantages. One of the most significant is its strategic partnership with the Poloniex cryptocurrency exchange.
&nbsp;
This partnership ensures that projects maintaining a daily trading volume of $1 million for three consecutive days qualify for listing on Poloniex.&nbsp;
<h2 dir="ltr" id="span-span-the-rise-of-sundog-span-span">The Rise of SUNDOG</h2>
One of the most notable success stories on SunPump is the rapid rise of $SUNDOG, a token that surged to a $53.4 million market cap just eight hours after its release. The memecoin is trading at $0.2359 with a&nbsp;<a style="text-decoration:none" href="https://coinmarketcap.com/currencies/sundog/" rel="noopener noreferrer nofollow">marketcap of $235.93 million</a>, at the time of writing.&nbsp;
&nbsp;
According to Lookonchain data, a few traders on SunPump managed&nbsp; to achieve remarkable returns.&nbsp;
&nbsp;
For instance, a trader identified as ‘TEP7…T1da’ made a 104x profit by trading SUNDOG tokens. This trader initially invested 5,000 TRX (around $650) to acquire 6.87 million SUNDOG tokens. Within seven hours, they sold 4.57 million SUNDOG for 522,840 TRX (approximately $68,000), netting a profit of 517,840 TRX (about $67,300).
<h2 dir="ltr" id="span-span-addressing-concerns-span-span">Addressing Concerns</h2>
Despite the excitement surrounding SunPump, the platform has faced criticism due to the inherent risks associated with memecoins. These coins are often subject to price manipulation and fraudulent activities.&nbsp;
&nbsp;
To address these concerns, Justin Sun has ensured that SunPump is subject to stringent review and community audit mechanisms. These measures are designed to reportedly ensure that only credible projects are listed on the platform.

What is Tron Blockchain’s SunPump?

Table of Contents

BSCN

Autres articles publiés le 22 août 2024

India to release crypto consultation paper by October

California DMV putting vehicle titles on a subnet is innovation theater

$DOGS Token Explained: All You Need to Know About This Cryptocurrency

Dogecoin (DOGE) Investors Embrace New Kids on The Block Mpeppe For Their Exceptional Gains

Trump’s odds on Polymarket surge above Harris, spike to 53%

ECOWAS appoints Jess Anuna, CEO of Klasha, as Youth Ambassador

Join our free newsletter for daily crypto updates!