Hello Steemians, I welcome you all to another great week in the Steemit crypto academy. Today's lesson was delivered by professor @besticofinder on "How to invest in cryptocurrency." The lesson is an informative one and an eye-opener for anyone who wants to invest in any cryptocurrency. In this post, I will discuss SUN and why the project will be a good investment.

Introduction

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Cryptocurrencies are emerging in the financial industry with so many projects being developed every day. As of Earlier January, there are more than 4000 cryptocurrency projects in existence. Investors are sceptical and sometimes confused about the project to invest in as there numerous options available to them. Most cryptocurrency has a good roadmap and vision but lacks the necessary team to push the project to reach it's potential. This is the reason some cryptocurrency projects end up crashing and getting dumped after ICO. Similarly, scammers take advantage of investors by creating a cryptocurrency project and later dumping it after investors have invested during ICO. For this reason, it's advisable to invest in coins that have been listed in the coinmarket cap, trading in major exchanges and have a visible working team. Similarly, before you invest in any cryptocurrency, make sure you have understood the vision and the problem that the project is trying to solve. This can be done by making extensive research and studying the project's whitepaper. Let's talk about the SUN and why the project will be a good investment.

SUN

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Project Concept

Sun is a cryptocurrency built on the Tron network to facilitate Decentralized Finance(DeFi). SUN aim at enriching the Tron ecosystem and might take part in DeFi features of lending, borrowing, insurance, liquidity and staking programs.
SUN is a community-driven project and initiated by the SUN community with its functionalities implemented by open-source smart contracts. The SUN community plays a major role in its functionality and decision making through voting.
The SUN project is termed a social experiment in Decentralization who's governance and decision is based on the SUN community. SUN features no mining or reserves for its team, no venture capital or private investment. The mining is completely decentralised and based on a smart contract and this can be done by staking or locking Tron or other TRC20 tokens to receive SUN as a reward.

Technical Overview of SUN

_{Technical overview of SUN}

SUN is a digital asset based on TRC20. The token is ranked #345 and is currently trading at $20.4 at the time of this writing with a market cap of $99.04 billion. The total supply is 99.90 million with a circulating supply of 4.85 million. The token has reached an all-time high of $35.70 and an all-time low of $5.31. With the current price of the SUN, the return of investment at the time of launch is -39.47%.

Social Reach

SUN gained the attention of investors during its genesis mining on 2nd September 2020. Users are allowed to stake Tron into SUN's smart contract. Users were rewarded with SUN as interest after the mining and also were refunded all their assets. The mining reward was distributed fairly to the participants according to the number of Tron staked. This fairness attracted investors into participating in the mining pool to earn SUN as a reward. Currently, SUN has launched a lending program with massive interest allowing users to supply other cryptocurrencies to earn SUN. This program attracted lots of users to participate in the community because this will allow them to earn passive income by just locking their coin for a.certain period.

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_{SUN mining pool}

Another social reach of SUN is the support of Tron's founder Justin Sun. Justin Sun has been publicly promoting SUN using his influence as a big figure in cry or currency.

_{Justin Sun promoting SUN}

Project Purpose

The main purpose of SUN is to support Tron's protocol by creating a community-driven and self-governance Decentralized Finance (DeFi). SUN also mimics the native DeFi tokens by rewarding users with SUN as interest after staking Tron or other coins. SUN also aim at featuring Decentralized lending, liquidity, borrowing and insurance services that are community-driven.

SUN's Team

Justin Sun developed SUN to overcome the scalability in Ethereum DeFi-networks making it costly to run DeFi apps. Though the founder Justin Sun has stated that the project is community-driven and its future and issuance depends on the community. The tokens trust is enhanced among its community by baking its functionalities into public smart contract code. This simply means that SUN future depends 100% on its community.

Response from the market

There are other DeFi projects out there, Security bridges have become a major in some DeFi projects built on Ethereum blockchain. SUN have overcome this issue by creating a public smart contract that will improve security and restore confidence among investors. Similarly, the self community governance of SUN also gives it an edge over other DeFi projects that run on centralised governance. Furthermore, users earn a high reward when they stake other coins in a flexible mining pool where rewards can be claimed daily.

From the picture above, we can see there are $2.5 billion in the mining pool. This means that investors are taking advantage of the opportunity SUN is providing which will end up boosting the project to it's potential.

Factors that my decision

The major factor that supports my decision to consider SUN as a good investment is the confidence it restored to investors by making its smart contract code available to the public. Another amazing factor is the SUN's community have full control of the project as the token wasn't supported by any venture firm. Similarly, the DeFi lending and borrowing feature investors earn SUN by just staking other cryptocurrencies in the mining pool. This feature will make the project reach it's potential as more investors will take advantage of the program knowing that their trust and confidence in the smart contract.

Thank you professor @besticofinder for the wonderful knowledge obtained from this lesson.

Best regards:
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