What Is Sun?
SUN is a token on the TRON blockchain, initially conceived as a “TRON’s Bitcoin” and meant to popularize DeFi as per the TRON’s founder Justin Sun’s vision. It was launched in autumn 2020. In May-June 2021 SUN went through a massive upgrade, resulting in the complete overhaul of its mission, infrastructure, and even the token itself, which was redenominated and swapped with the new version of SUN with the ratio of 1:1000. This process was completed on June 23, 2021.
The new SUN is not just a currency or a governance token like it used to be. Now it represents SUN.io – TRON’s one-stop platform, primarily used:
- as a low-fee, low-slippage stablecoin swap (initially allowing USDT, USDJ, and TUSD, but planning to add more)
- for token mining, which is possible either by participating in liquidity pools or staking.
Those additions may help popularize the network, as the token gained more utility and earning potential. The infrastructure’s upgrade also expanded the functionality of SUN as a governance token, which helps make the project more community-driven, which has been one of its main goals from the start – it’s described in the whitepaper as a “social experiment”. Of course, it’s also still aimed to facilitate the wider adoption of DeFi.