Original｜Odaily Planet Daily (@OdailyChina)
Author: Wenser (@wenser 2010 )
On August 13, the sub-product SunPump Beta version launched by SUN.io, a well-known DeFi platform on the TRON chain, was launched; on August 15, TRON and SunPump jointly launched a $10 million Meme ecological incentive plan. As the first fair launch Meme coin platform on TRON, SunPump not only fills the gap of the TRON ecological "one-click coin issuance" platform, but also hopes to use the unique advantages of the TRON ecosystem to set off a new round of Meme coin craze. Odaily Planet Daily will analyze and interpret SunPump in this article to help readers gain a deeper understanding of SunPump and the subsequent direction of the TRON ecological Meme coin track.
TRON: The leading stablecoin network promotes the development of the Meme field
As time enters 2024, as one of the blockchain networks ranked at the top in terms of protocol revenue, TRON has performed well recently: on July 16, it successfully achieved the achievement of "the first blockchain network with a single stablecoin (USDT) supply exceeding 60 billion US dollars"; on August 12, the total number of TRON accounts officially exceeded 250 million, the number of transactions exceeded 8.23 billion, and the total locked value (TVL) exceeded 20.7 billion US dollars.
As an established public chain platform, TRON is known for its stable operating network, huge on-chain deposited assets, efficient and convenient stablecoin ecosystem, and extremely active and loyal users on the chain.
TRONSCAN official website information
At a time when countless blockchain networks are gradually becoming "demonic dens", it is extremely difficult to maintain the stable development of the ecological network, let alone present a rapid growth trend. In this regard, TRON is undoubtedly one of the leaders.
According to the information on the TRONSCAN website, the main information about TRON is as follows:
The total number of accounts is 251.3 million, with a 24-hour increase of nearly 200,000;
The number of daily active users exceeded 2.66 million, with a 24-hour increase of 2.62%;
The total locked funds reached 21 billion US dollars, with a 24-hour increase of 2.22%.
Daily active user information
After setting its development goal of "achieving $1 billion in protocol revenue", TRON is also looking for new growth points. The Meme coin craze sweeping the blockchain world and cryptocurrency industry provides a new solution, and SunPump comes at the right time.
In other words, the TRON ecosystem provides a broad "stage" for SunPump's "wonderful performance."
SunPump origin: TRON ecosystem, the "son" of the DeFi leader
As a long-established leading DeFi project in the TRON ecosystem, SUN.io is the mainstay of the ecosystem's development. Against the backdrop of market development, while listening to community opinions, it is also constantly innovating based on the unique advantages of the TRON ecosystem. SunPump is its latest attempt. The "Meme Product Function Expansion" proposal previously initiated by SUN DAO had previously received 94,984,852 votes in favor and received active support from community members.
SUN.io Community Voting Results
SunPump: A new growth point for TRON ecosystem
SunPump official website interface
Specifically, SunPump's advantages and features are mainly reflected in the following aspects:
1) Strong technical support: According to official news, if the trading volume of meme coins launched on SunPump reaches 1 million US dollars for three consecutive days, the project can enjoy the convenient service of "one-click listing on Poloniex"; if the trading volume reaches 10 million US dollars for three consecutive days, the project can enjoy the efficient service of "one-click listing on Huobi HTX". Combined with the targeted marketing strategy and corresponding market promotion mentioned in the previous proposal, it has to be said that SunPump has taken the lead.
2) Ecological Incentive Program: In addition, TRON announced that it will join hands with SUN.io and SunPump to launch the Meme Ecological Incentive Program, with a scale of up to 10 million US dollars. With this plan, the Meme culture will be further spread and promoted, and the diversity and innovation of the TRON ecosystem will also give rise to more high-quality Meme coin projects.
3) Rich cooperation resources: At present, SunPump has achieved global barrier-free access, integrated with leading DEX aggregators such as Screener, AVE.ai, and Dex Tools, and reached different degrees of cooperation with cryptocurrency exchanges such as Huobi HTX and Poloniex. On the first day of its launch, it was also listed on the popular list of the Web3 wallet TokenPocket Dapp area. Based on TRON's previous cooperation resources, more partners will be introduced in the future to jointly promote the sustainable development of the global Meme ecosystem.
After the wealth-creating effects of many "VC coin projects" have failed, SunPump is expected to take over the Meme coin launch platform of network ecosystems such as Solana and Base, creating new growth and gameplay for the TRON ecosystem and Meme coin market.
It is understood that the SunPump platform has produced several "100x coins" including SUNDOG. According to official news, the number of newly issued Meme coins by SunPump surged by 350% in 24 hours, and the transaction volume increased by 400%. In addition to the above advantages, the good development momentum of the platform is inseparable from the support of the following aspects:
SUNDOG Token Launch Performance
1. SunPump "Gas Fee" Reduction Campaign
Following the tradition of the TRON network's development, in order to stimulate community user participation and trading activity, the SunPump Beta version has launched a "Gas Fee" reduction activity, which mainly applies to the Gas fees generated by SunPump's token launch, transactions and related operations.
For the related gas fees generated by the Meme coin-TRX trading pair that adds liquidity on SUN.io after the successful launch, up to 99% can be reduced, which greatly reduces the transaction friction cost of Meme coin participating users on the SunPump platform and improves user transaction efficiency to a certain extent, helping the platform to quickly accumulate users, increase transaction volume, enhance community vitality, and lay a solid foundation for the long-term development of the platform.
According to official document information, this tax reduction and exemption activity officially started at 16:00 on August 12. The specific end time can be found in the next official notification.
2. Liquidity support of SUN.io
Similar to the mechanism of pump.fun, when the market value of the Meme coins created on the SunPump platform reaches certain conditions, the platform will automatically inject the preset liquidity funds into SunSwap V2 (similar to the Solana ecosystem DEX Raydium) and execute token destruction to regulate market circulation.
3. The “traffic effect” brought by Justin Sun, the founder of TRON
As a well-known founder who is still active in the industry, Justin Sun plays an important role in the development of TRON, and his "traffic effect" with its own topicality can also provide sufficient motivation for the rise of SunPump to a certain extent. Previously, Justin Sun mentioned Meme coin many times in offline activities and online social media platforms and emphasized its importance to the development of the industry and the breakthrough of the blockchain industry. Not only that, Justin Sun also said bluntly: "We must enhance the role of Meme (coin) in the TRON community." The launch of SunPump is undoubtedly a strong response to his previous remarks.
It is worth mentioning that in addition to the above advantages, the TRON ecosystem also has certain similarities with the previous "Meme coin bases" Solana ecosystem and Base ecosystem, that is, the price of a single token is relatively low, the transaction threshold is relatively low, and the blockchain network friction cost is also low, which is crucial for the fair launch and fast transaction of Meme coins.
SunPump: A Game-breaker in the Meme Coin Market
According to DefiLlama data, as of August 17, the top three protocol revenues in the past 7 days are:
1) Tron, revenue of $8.71 million;
2) pump.fun, revenue $6.86 million;
3) Ethereum, revenue of $5.15 million.
Among them, in addition to TRON ranking first in protocol revenue, pump.fun's ability to attract money is as stable as ever. This shows that SunPump, which has emerged as a game-changer in the field, should not be underestimated in the future.
DefiLlama Information
SunPump: TRON’s “pump.fun”
According to Dune data, SunPump’s revenue in its first week online reached $190,000. In comparison, pump.fun’s revenue in its first week online was only 6 SOL. The potential of emerging platforms is clear at a glance. Now that the Solana ecosystem Meme coin ecosystem is beginning to decline, TRON may lead the next wave of "Meme coin craze".
In terms of the amount of funds deposited, the overall TVL of the Solana ecosystem is only about 4.77 billion US dollars, which is only about a quarter of the TVL of the TRON ecosystem.
In terms of project success rate, Solana's one-click token issuance platform pump.fun has issued more than 1.8 million tokens (data source: Dune data), but previous statistics show that its project launch rate is only 1.8%, and only 0.002% of tokens (41 types) can maintain a market value of more than 1 million US dollars within a few weeks; in comparison, although SunPump has been online for less than a week, the market value of popular projects including SUNDOG and SUNCAT has successfully exceeded 10 million US dollars, and the wealth-creating effect in the early stage of the ecosystem is obvious;
In terms of daily active users of the ecosystem, although July ushered in a peak period of ecological development, the transaction volume on the Solana chain increased significantly, and the daily active addresses surged to over 2 million (7-day MA); but compared with the number of daily active users of Tron, which is as high as 2.66 million, there is still a gap of over 20%.
From the perspective of application feedback to the ecosystem, as of August 17, the total revenue of the pump.fun protocol was approximately US$93.28 million, and its main income went into the pockets of the platform team: in the past three months, the pump.fun fee account sold more than 20,000 SOL in exchange for more than 35 million USDC, and its current total revenue is 630,382 SOL; and SunPump is a sub-product of SUN.io. According to Sun Yuchen’s response, all 100% of the protocol revenue it earns will be repurchased in a decentralized manner and destroyed in SUN tokens, returning the value to the protocol.
It can be said that from a comprehensive evaluation of the above four levels, SunPump's market space and development potential are no less than pump.fun and Solana ecology, and it can be described as "a vast world with great potential."
Conclusion: Applications are an essential component of a thriving ecosystem
Based on the above information, it is not difficult to see that, on the premise of fully meeting users' needs for Meme currency transactions and significantly increasing community participation, SunPump is expected to inject another layer in addition to stablecoin payment into the prosperity and development of the TRON ecosystem. new development impetus.
In the future, SunPump will further release the liquidity of tokens such as USDT and TRX in the TRON ecosystem, and occupy its own place in the Meme coin wave. Therefore, while achieving its own success, SunPump will greatly feed back to the TRON ecosystem, helping it to build another "blockchain network development flywheel" and achieve further sustained and rapid development in the fierce blockchain network competition.
