Justin Sun, the founder of the Tron blockchain, has launched SunPump, a specialized launchpad platform designed to simplify the creation of meme coins on the Tron network.
SunPump was officially launched on August 13 by Sun.io, a DeFi platform closely associated with Sun. This platform allows users to create their own meme coins with just a few clicks, without needing any coding skills.
According to its official documentation, SunPump utilizes a Bonding Curve mechanism for token purchases, where the token price increases with each purchase based on a predetermined formula.
This mechanism ensures liquidity availability for users and offers flexible trading options, allowing them to sell their tokens at any time to lock in profits or minimize losses.
To use this launchpad, users must pay a creation fee of 20 TRON (TRX) and a transaction fee of 1%.
Once a project reaches 100% of the Bonding Curve worth US$69,420, the smart contract will automatically deposit around 100,000 TRX and 200 million other tokens into the SunSwap V2 liquidity pool. Approximately 3,000 TRX will be deducted from the Bonding Curve to cover liquidity costs.
TRX’s price has increased by 0.9% in the last 24 hours and is trading at US$0.13, according to data from CoinMarketCap. On a weekly basis, TRX’s price has risen by 5%.
SunPump Meme Coins See Rapid Growth
The launch of SunPump has attracted significant attention from meme coin creators. For instance, Sundog (SUNDOG) achieved a market capitalization of US$53.4 million within just eight hours of its launch, while Suncat (SUNCAT) recorded a market capitalization of US$2.2 million on its launch day.
According to data from Dune Analytics, 7,347 meme coins have been launched on Tron through SunPump, generating profits of over 2.6 million TRX.
On August 17, Tron recorded its highest daily revenue since the launch of SunPump, with more than 1.066 million TRX spent on meme coin creation and trading.
In an X post, Sun announced that SunPump is increasing its server capacity tenfold to handle the growing traffic.
Additionally, Tron and SunPump have launched a special US$10 million meme coin incentive program to support tokens launched on the platform.
Emerging Amid Pump.fun Controversy
Amid the excitement surrounding SunPump’s launch, the crypto community has also been shaken by a scandal involving Pump.fun, a similar meme coin launchpad platform on the Solana network.
The Pump.fun community has criticized the platform for allegedly undermining the essence of meme coins and for numerous rug pull projects involving Pump.fun.
Pump.fun has also been implicated in a pump-and-dump scheme led by Dubai-based investor Sahil Arora, who is accused of manipulating token prices through his influential social media presence. As a result, many investors have suffered significant losses.
In response, SunPump has emphasized its commitment to enhancing the review process, introducing community oversight, and promoting transparency to ensure the safety of token creators and investors.
As reported by CoinDesk, one of the measures being implemented is thorough vetting of creators and projects before they are launched on the platform to ensure they meet established integrity standards.
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