$0.00537475
24H %
-0.14%
24H Low
$0.00535115
24H High
$0.00542124
DownloadIcon
TO

Linear
Log

About Sun Token

Sector

DeFi


Industry Group

Exchanges


Industry

Asset Management



The Sun Token price is $0.01, a change of -0.14% over the past 24 hours as of 5:11 p.m. The recent price action in Sun Token left the tokens market capitalization at $47,693,815.25. So far this year, Sun Token has a change of -75.76%. Sun Token is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS).


SUN is the native protocol of Sun Token, the native token of a TRON-based decentralized exchange and yield farm. Its name comes from the blockchain’s creator, billionaire Justin Sun, who also founded TRON and is the CEO of BitTorrent.

Launched on September 16, 2020, SUN switched to a new smart contract (migrated the token to new code) in May 2021. In both iterations, it is a TRC-20 token, meaning it is based on the TRON blockchain.

The new SUN contract started trading in June 2021 at $0.026 but sank as low as $0.016 in July. It recovered to highs of $0.05 in October 2021 but fell shortly thereafter, landing at $0.007 by June 2022.

The old SUN tokens were launched without venture capital or private equity investments, and Sun did not pre-mine or pre-reserve any coins for himself. The protocol, however, allowed for a two-week period of public mining before it launched.

When the SUN protocol was upgraded in May 2021, old SUN tokens were redenominated at a ratio of 1:1000. Mining continues to be the method by which users earn new SUN.

The upgrade, called SUN v2, introduced a deflationary mechanism called buyback-and-burn, whereby the protocol uses 0.05% of its monthly transaction fees, employs it to buy SUN, then permanently removes this SUN by sending it to a cryptocurrency wallet that nobody controls.

What is Sun token?

Sun launched as a meme DeFi (decentralized) token – or, in the words of TRON, “a living demonstration in the coalescence of encryption with artistic expression.”

The token supports the SUN ecosystem. It includes SunSwap, a platform for TRON TRC-20 token swaps, and a host of related yield farms.

SunSwap is an automated market maker, a protocol that facilitates token swaps by drawing on vast reserves of tokens, known as liquidity pools, that other users have provided to the protocol.

Those who provide funds to liquidity pools can earn extra tokens, just like on Uniswap, the automated market maker native to Ethereum. Indeed, SunSwap uses the same bonding curve algorithm as Uniswap to price the tokens in its liquidity pools: x*y=k.

SUN can also be staked for veSUN, the staking token for SunSwap’s yield farms. Staked veSUN tokens entitle liquidity providers to extra rewards, such as transaction fees from the protocol’s stablecoin liquidity pools and increased incentives for liquidity pool mining. Plus, veSUN can be used as a governance token to vote on the weights of liquidity pools.

Key events and governance

In October 2021, SUN completed its acquisition of JustSwap, a TRON-based decentralized lending protocol also launched by TRON founder Justin Sun.

SunSwap’s total value locked (TVL), a metric that describes the value of the crypto locked in its smart contracts, peaked at $2.2 billion on April 7, 2021. By the following June, it had fallen to $816 million. SUN-owned JustLend is the largest DeFi protocol on TRON, with a TVL of $2.42 billion as of June 2022.

Justin Sun launched an algorithmic stablecoin, USDD, three days before the collapse of Terra, a stablecoin protocol built on Cosmos. In June 2022, it slipped from its $1 peg, trading at 99 cents in June and July.


Previously Aired
CDTV logo

Bitcoin is paring losses after slipping below $17,000 following a better-than-expected U.S. jobs report for November. This comes as Federal Reserve Chair Jerome Powell said that "it makes sense to moderate the pace of our rate hikes" as soon as December. Meanwhile, Bitcoin Core 24.0 is now released. CoinDesk's Christie Harkin and Helene Braun take a closer look at what happened this week on "All About Bitcoin."

$47.69M

N/A


Sun Token Price

24H Open
$0.00538434
24H Change
$-0.00000741
52 Week Low
$0.00464200
52 Week High
$0.02899600
All Time High
$0.00968200
Returns (YTD)
-75.76%

Sun Token Market Stats

Total Supply
8.87B
Max Supply
N/A
24H Value Transacted
N/A
30D Volatility
0.82208000
24H Transaction Count
N/A
24H Average Transaction Fee
N/A

About Sun Token

Sector

DeFi


Industry Group

Exchanges


Industry

Asset Management



The Sun Token price is $0.01, a change of -0.14% over the past 24 hours as of 5:11 p.m. The recent price action in Sun Token left the tokens market capitalization at $47,693,815.25. So far this year, Sun Token has a change of -75.76%. Sun Token is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS).


SUN is the native protocol of Sun Token, the native token of a TRON-based decentralized exchange and yield farm. Its name comes from the blockchain’s creator, billionaire Justin Sun, who also founded TRON and is the CEO of BitTorrent.

Launched on September 16, 2020, SUN switched to a new smart contract (migrated the token to new code) in May 2021. In both iterations, it is a TRC-20 token, meaning it is based on the TRON blockchain.

The new SUN contract started trading in June 2021 at $0.026 but sank as low as $0.016 in July. It recovered to highs of $0.05 in October 2021 but fell shortly thereafter, landing at $0.007 by June 2022.

The old SUN tokens were launched without venture capital or private equity investments, and Sun did not pre-mine or pre-reserve any coins for himself. The protocol, however, allowed for a two-week period of public mining before it launched.

When the SUN protocol was upgraded in May 2021, old SUN tokens were redenominated at a ratio of 1:1000. Mining continues to be the method by which users earn new SUN.

The upgrade, called SUN v2, introduced a deflationary mechanism called buyback-and-burn, whereby the protocol uses 0.05% of its monthly transaction fees, employs it to buy SUN, then permanently removes this SUN by sending it to a cryptocurrency wallet that nobody controls.

What is Sun token?

Sun launched as a meme DeFi (decentralized) token – or, in the words of TRON, “a living demonstration in the coalescence of encryption with artistic expression.”

The token supports the SUN ecosystem. It includes SunSwap, a platform for TRON TRC-20 token swaps, and a host of related yield farms.

SunSwap is an automated market maker, a protocol that facilitates token swaps by drawing on vast reserves of tokens, known as liquidity pools, that other users have provided to the protocol.

Those who provide funds to liquidity pools can earn extra tokens, just like on Uniswap, the automated market maker native to Ethereum. Indeed, SunSwap uses the same bonding curve algorithm as Uniswap to price the tokens in its liquidity pools: x*y=k.

SUN can also be staked for veSUN, the staking token for SunSwap’s yield farms. Staked veSUN tokens entitle liquidity providers to extra rewards, such as transaction fees from the protocol’s stablecoin liquidity pools and increased incentives for liquidity pool mining. Plus, veSUN can be used as a governance token to vote on the weights of liquidity pools.

Key events and governance

In October 2021, SUN completed its acquisition of JustSwap, a TRON-based decentralized lending protocol also launched by TRON founder Justin Sun.

SunSwap’s total value locked (TVL), a metric that describes the value of the crypto locked in its smart contracts, peaked at $2.2 billion on April 7, 2021. By the following June, it had fallen to $816 million. SUN-owned JustLend is the largest DeFi protocol on TRON, with a TVL of $2.42 billion as of June 2022.

Justin Sun launched an algorithmic stablecoin, USDD, three days before the collapse of Terra, a stablecoin protocol built on Cosmos. In June 2022, it slipped from its $1 peg, trading at 99 cents in June and July.


Market Analysis
Social Analysis

Trending Assets

Bitcoin Calculator

Last Updated on 12/03/22 5:11 PM

CoinDesk’s Bitcoin and Cryptocurrency Calculator determines the exchange rates between major fiat currencies and cryptocurrencies – including BTC, BCH, ETH and XRP to USD, EUR, GBP, IDR and NGN – with up to six decimal places of accuracy. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.


Latest About Sun Token

CoinDesk - Unknown
Crypto's Ugly November Draws to Close With ‘Sam Coins’ in Gutter, Bitcoin Down 18%

The FTT token, along with Serum's SRM and Solana's SOL, plunged amid the dramatic collapse of Sam Bankman-Fried's FTX exchange. Bitcoin had its worst loss in five months.

CoinDesk - Unknown
CoinDesk - Unknown
Crypto Markets Today: Huobi’s HT Token Climbs After Exchange Discloses Airdrop

The company will send a digital token to users via Huobi Prime, its exclusive token offering platform.

CoinDesk - Unknown
CoinDesk - Unknown
Huobi Token Surges After Crypto Exchange Discloses Airdrop of Dominica Coin

The deal is noteworthy partly because of its connections to crypto billionaire Justin Sun, founder of the Tron blockchain where the Caribbean island's new token will initially reside.

CoinDesk - Unknown

Disclaimer
Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms.