Sow SUN: An Analysis of SUN’s mechanism
SUN SUN SUN...!
Everyone in the blockchain industry is curious about this new name these days...
SUN token is known as the Bitcoin of the TRON blockchain. It's great news! It is the first meme token... Wow … Isn’t that a wonderful idea?
We all know who Justin Sun, the CEO of the TRON foundation recently, announced the launch of this SUN project. It’s the official launch of TRON networks first Defi meme coin.
The announcement by Justin Sun on 31 Aug on TwitterSource
They plan to use SUN token as a way to improve the development of #TRON's and #DeFi by a community of self-governance. When looking at its concept, I'm afraid that we should not measure this SUN token by its market price. This TRC 20 token, SUN has a total 19900730 token supply. And it’s fully operated through open-source smart contracts. The project is running with a 100% transparency without any pre-mining or reservations for the team members. This will be a large community and will protect the true values of decentralization and the blockchain industry.
The following infographic from the TRON official announcement well explains the operation of the SUN network.
An explanation of Sun NetworkSource
And most importantly this SUN network is designed to supply unbounded capacity to the main TRON network and it will support the fast increasing number of transactions. This new chain system will provide free transactions or very low fees, even 100 times low. SUN token is a very similar token to YAM and SUSHI tokens. It’s a token designed for the governance of the ecosystem.
The simple idea is the holders of SUN tokens will get the opportunity to vote on the proposals or decisions taken for the improvement of the network. This will be a community-governed network. And there are some famous self-governed communities which have a similar network structure. Some examples are AAVE and MakerDAO but on the ETH network.
We all know that the TRON ecosystem is making improvements super fast and it’s the base or the home for a considerable percentage of people in this crypto industry. This SUN network will positively affect the TRON ecosystem to compete with the Etherium ecosystem.
This is a massive change and let’s see how it will behave.
For more info visit : https://sun.io
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