TRON

Sun (New)

<a href="https://optimisus.com/market/market-news/justin-sun-the-founder-of-tron-introduces-sunpump-a-new-meme-coin-platform/" rel="noopener noreferrer nofollow">Justin Sun, the founder of Tron</a>, has made an announcement stating that SunPump has intentionally destroyed more than $8 million worth of SUN tokens from its available quantity.Furthermore, a further $4 million worth of tokens is scheduled to be destroyed in the near future. Within the past 24 hours, a total of 28,999,138.3071 SUN tokens, worth $819K, have been destroyed.There are still 10.97 million tokens left to be destroyed. The SunPump community has implemented a buyback and burn strategy that operates entirely on the blockchain, with the aim of addressing the lack of clarity surrounding LP token burning.The official website provides real-time updates of burning records. <a href="https://optimisus.com/news/crypto-news/the-tron-community-agrees-on-a-100-on-chain-buyback-and-burn-strategy-for-sunpump-protocol-revenue/" rel="noopener noreferrer nofollow">SunPump</a>, the initial meme coin generator built on the Tron blockchain, surpassed its competitor Pump.fun, which operates on the Solana blockchain, in terms of daily revenue by a margin of $200,000.The smart contract of SunPump will allocate 0.05% of the value of each transaction on SunSwap V2 to acquire SUN tokens. These tokens will be subsequently destroyed by depositing them into a specific address every four weeks, which is connected to the TRON blackhole.The revenue repurchase and incineration process is anticipated to be finalized within a short span of time. Notwithstanding the favorable news, the SUN token has encountered a significant decrease, with its price plummeting by more than 14.5% in the last 24 hours.

Justin Sun’s SunPump burns $8.24 million worth of SUN tokens

Optimisus

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