Tron Network Gas Revenue Beats Ethereum, Solana, and Bitcoin as Memecoin Launchpad SunPump Shoots up Network Activity

The launch of the SunPump memecoin launchpad on the Tron blockchain network has significantly shot up the network activity thereby sending the gas fee

The launch of SunPump memecoin launchpad on the Tron blockchain has brought about a significant increase in the network activity which has led to a soaring gas fee along with the network revenue. For the last month of August, the Tron Network gas revenue saw a huge 46.5% increase in comparison to its previous month.

Coming to the gas revenue of other networks, BSC saw a 6.63% increase while Ethereum saw a 33.44% decrease in comparison to the previous month. Solana also saw a massive 48.51% decrease while Bitcoin saw a 16.85% decrease in gas revenue.

Now, one thing is clear from the above data. Tron has been eating into the revenue share of competitors like Ethereum and Solana. While the meme coin launchpad is surely helping Tron, on the other hand, the Tron development team has been working to cater to the high energy demand while working to keep the Tron transaction costs lows.

Founder Justin Sun Announces Shift In Burning Strategy for SumPump

Moreover, Tron founder Justin Sun has shared his opinion regarding the ongoing debate in the SunPump community over the best approach for token burning and revenue buyback. Previously, the community had proposed using the Liquidity LP tokens for token burning, a startegy similar to the one adopted by Shiba Inu. This method has several advantages such as increasing token liquidity depth, allowing the burned liquidity to still be utilized, and being more regulator-friendly.

However, Justin Sun acknowledged the complexities that come along with LP token burning. He said that many community members still struggle to fully understand the concept thereby leading to major misunderstandings.

As a result, the community has decided to implement a 100% on-chain buyback and burn process instead. This approach is more transparent and easier to verify as all burn records will be available on-chain, thus eliminating the need for complex explanations.

Sun stated that the implementation of the on-chain buyback and burn process will beging today onwards.

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