Ranking
Categories
Historical Snapshots
Token unlocks
Yield
Trending
Upcoming
Recently Added
Gainers & Losers
Most Visited
Community Sentiment
Chain Ranking
Market Overview
CoinMarketCap 100 Index
Fear and Greed Index
Altcoin Season Index
Bitcoin Dominance
Crypto ETFs
Overall NFT Stats
Upcoming Sales
New Pairs
Trending Pairs
Meme Explorer
Gainers & Losers
Community Votes
Top Traders
Spot
Derivatives
Spot
Derivatives
Feeds
Topics
Lives
Articles
Converter
Newsletter
CMC Labs
Telegram Bot
Advertise
Crypto API
Site Widgets
Airdrops
Diamond Rewards
Learn & Earn
ICO Calendar
Events Calendar
Academy
Research
Videos
Glossary
Regarding the issue of revenue buyback and burning for @sunpumpmeme , the community previously suggested burning liquidity LP tokens because this approach is used by mainstream meme tokens like SHIB.— H.E. Justin Sun🌞孙宇晨(hiring) (@justinsuntron) September 3, 2024
Burning LP tokens has several advantages, including increasing token liquidity…
The new approach aims to provide transparency and simplicity, ensuring that all burn records are accessible on-chain.
“Burning LP tokens has several advantages, including increasing token liquidity depth, allowing the burned liquidity to still be utilized, and being more regulator-friendly,” Sun stated.
Community-Driven Decision
Sun revealed the community's decision through a post on X (formerly Twitter) on September 3. He noted that the initial suggestion to burn LP tokens was met with confusion, as the concept is complex and difficult for many community members to grasp.
After discussions, the community reached a consensus to adopt the on-chain buyback and burn process instead. The Tron Founder believes this method provides complete transparency and allows the community to verify all transactions on the blockchain.
Support and Caution from the Crypto Community
However, Todar also cautioned that focusing solely on buyback and burn might overlook the importance of liquidity. He pointed out that adding liquidity through LP tokens deepens the market and attracts larger investors, which is crucial for the growth and stability of the token.
SunPump: A Growing Platform
Launched in August 2024, SunPump.meme is a meme coin generator that allows users to create their own tokens with minimal capital investment. The platform operates similarly to Solana's Pump.Fun, where users can issue new tokens for a small fee.
SunPump employs a unique bonding curve mechanism designed to ensure continuous liquidity for the tokens created on the platform.
When a project reaches 100% of its bonding curve at a value of $69,420, the smart contract automatically deposits around 100,000 TRX and 200 million tokens into the SunSwap V2 liquidity pool. This process is intended to provide constant liquidity for trading, reducing the risks associated with price volatility.
Revenue and Future Potential
SunPump has seen considerable success since its launch. On August 21, Tron’s daily revenue reached a new all-time high of $3.84 million, driven by the SunPump memecoin generator. This achievement placed Tron ahead of established networks like Ethereum and Solana in terms of daily revenue.
Simplifying Memecoin Creation
Justin Sun has been vocal about the future potential of SunPump.meme and the advantages it offers over similar platforms.
One of the platform's key strengths is its strategic partnership with the Poloniex cryptocurrency exchange. This partnership ensures that projects maintaining a daily trading volume of $1 million for three consecutive days qualify for listing on Poloniex.
According to Sun, Tron's robust stablecoin liquidity, driven by Tether's USDT, gives it an edge over other networks. He highlighted that Tron’s large stablecoin supply could lead to the emergence of several billion-dollar meme coins.