TRON Launches DeFi community governance staking token: SUN

By Randomblock1 | Randomblock1 | 2 Sep 2020


Today, Tron launched its new DeFi/governance token: SUN. It will be a token which allows the community to vote on proposals. It’s also probably named after Justin Sun, the creator of Tron. Proposals introduced by Tron will be voted on by the community using SUN.

How do I stake SUN?

Currently SUN can be staked on their website: https://sun.market/#/home or https://sun.io/#/home . The staked TRX is locked for a period of 14 days after which it will be sent back, along with your new SUN tokens. This ensures that SUN is distributed to the community fairly.

Here is the way in which the staking determines how much SUN you earn:

Amount of pre-mined SUN the user receives = the share of SUN the user is entitled to * total amount of pre-mined SUN

In which:

Total amount of pre-mined SUN = SUN total supply * pre-mined percentage

Share of SUN the user is entitled to = (amount of TRX the user staked * lock-up duration) / (∑amount of TRX staked by all users * lock-up duration)

Additionally, every week, the amount of SUN earned by staking decreases, until September 16, where “Genesis Mining” will end. “Regular mining” will do the same thing, except that you can stake other tokens in addition to TRON to earn SUN. If you want to get SUN, the best time is now.

In Week 1, 845728 SUN will be mined.

In Week 2, 676582 SUN will be mined.

In Week 3, 541266 SUN will be mined.

And so on and so forth.

A total of 4109616 SUN can be mined, equivalent to 20.65% of the total supply. Regular Mining in the other mining pools: A total of 13930511 SUN will be mined, equivalent to 70% of the total supply.

After regular mining is done, SUN plans to begin Phase 3 (Docking to numerous DeFi projects within the TRON ecosystem) and Phase 4 (SUN holders are able to govern the SUN community themselves. The more SUN you own, the greater power you have).

 

For more details, read the whitepaper: https://sun.io/docs/sun_whitepaper_en.pdf

 

Here are some of the faucets I use that pay out almost instantly with no minimum balance.

Pipeflare

Zenhub

Globalhive

How do you rate this article?


1

0


Randomblock1
Randomblock1

A blog about crypto.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.