Justin Sun Says SunPump Will Implement “100% On-Chain Buyback and Burn”
Justin Sun, Tron creator, claimed the SunPump meme coin would have “100% on-chain buyback and burn”.
Sun said on X that a community debate reassessed the original proposal to burn liquidity pool (LP) coins.
He stated, “Many community members don’t fully understand what LP token burning means, which can lead to misunderstandings.”
The token's management plan will change with the instant buyback and burn.
Sun pointed out that Binance, which buys and burns its BNB coin, uses a similar strategy.
SunPump recently beat Pump.fun in daily income and activity in Solana.
According to blockchain researcher Adam, SunPump released 7,351 tokens and made $585,000 in 24 hours, exceeding Pump.fun's 6,701 tokens and $366,000 income.
SunPump's launchpad has a higher “graduation” rate, with 1.98% of tokens placed on Tron's decentralized market Sunswap after satisfying trading volume standards.
Pump released just 1.26% of tokens.Fun has reached Raydium, Solana's exchange.
Justin Sun Beats SEC
Last month, a New York District Judge refused an SEC move to undermine Tron founder Justin Sun's argument.
The finding by US District Court Judge Edgardo Ramos hurts the SEC's case against Sun.
Sun and the Tron Foundation were accused of unregistered securities sales, manipulative trading, and unlawful advertising of Tron (TRX) and BitTorrent (BTT) tokens in March 2023.
Sun and his lawyers filed a motion to dismiss the complaint in April, alleging that the SEC lacks jurisdiction over worldwide digital asset transactions.
The SEC revised its Tron complaint against Sun and his crypto firms in April after Sun tried to dismiss it.
The SEC said in revised court documents that the Tron founder “traveled extensively” to the U.S. for “his work on behalf of the Tron Foundation, the BitTorrent Foundation, and/or Rainberry.”
@Justin Sun孙宇晨
#SunPump #BNBChainMemecoins #DOGSONBINANCE $TRX
