Sun.io Releases SunPump, a Token Generator to Rival Solana's Pump.fun

Memecoins have become a key part of the recent crypto bull market. In a recent development, Sun.io, the DeFi protocol associated with Tron founder Justin Sun

In the recent crypto bull market, memecoins have played a significant role. In a new development, Sun.io, the DeFi protocol linked to Tron founder Justin Sun, has launched a token generator called SunPump. This platform will enable users to create meme coins on the Tron blockchain. The new platform will compete with Solana's Pump.fun token generator, which saw an all-time high in transaction fees this week, with $5.3 million being paid in 24 hours.

Platforms like Pump.fun have been accused of making it easy for bad actors to create a meme coin and then perform a rug pull once investors have added value to the coin.

“To address this, the Sun team is committed to enhancing our review processes, introducing community oversight, and promoting transparency to ensure the safety and trust of our users,” Sun said in an interview. Before being permitted to launch on the platform, creators and projects are thoroughly vetted by SunPump to ensure they adhere to specific integrity standards.

How Does It Differ From Pump.fun?

According to Sun, what distinguishes the two projects is that, thanks to a partnership with crypto exchange Poloniex, projects that maintain $1 million in daily trading volume for three days will be eligible to be listed on the platform. Additionally, Tron and SunPump are allocating $10 million to the Meme Ecosystem Boost Incentive Program, which will provide resources for newly launched tokens and include a review process to prevent rug pulls.

Traders Profit 100x From Tron

So far, Tron Network has made a successful pivot into the meme coin scene. Some traders are already making a fortune trading Tron-based meme coins, according to data insights from Lookonchain.

Some traders have made 100x gains trading these memes on the protocol, according to Tron Scan trades. According to Lookonchain, a trader going by the handle ‘TEP7…T1da’ has achieved an incredible 104x return by trading MEMEcoins on the Tron Network. The trader initially spent 5,000 TRX ($650) to purchase 6.87 million SUNDOG tokens. He sold 4.57 million SUNDOG for 522,840 TRX (around $68,000) in just 7 hours, netting a profit of 517,840 TRX ($67,300).

Similar growth was seen in the early days of Shiba Inu and PEPE. The trader still has 2.29 million SUNDOG tokens, which are currently worth about $76,000 in unrealized profit. This trade has the potential to bring a large number of meme coin farmers to the Tron network.

The above is the detailed content of Sun.io Releases SunPump, a Token Generator to Rival Solana's Pump.fun. For more information, please follow other related articles on the PHP Chinese website!