SUN
Sun Token
$0.01840
0.81%
Sun Token
SUN
$0.01840
0.81%
Sun Token Price Converter
Sun Token Information
Research Reports
Join thousands of readers who rely on CoinDesk for data-driven insights on the latest digital asset trends.
Sun Token Markets
About Sun Token
Sun Token (SUN), created by Justin Sun, is a governance token on the SUN.io platform, part of the TRON ecosystem. It offers functionalities like stablecoin swap, token mining, and self-governance. SUN holders can participate in platform governance and earn staking rewards. The token underwent a redenomination to facilitate easier access and growth of the ecosystem, significantly increasing its total supply while maintaining its market cap.
Sun Token (SUN) is a multifunctional governance token on the SUN.io platform, which is TRON's first one-stop platform supporting stablecoin swap, token mining, and self-governance. Similar to other governance tokens like CRV (Curve DAO) and EPS (Ellipsis), SUN grants its holders various rights and benefits, including voting and governance rights in the community, value capture, and staking rewards. It plays a significant role in the governance and functionality of the SUN platform.
Governance: SUN token holders have the right to participate in the governance of the SUN platform. This includes decision-making on community matters, development directions, and other governance-related issues.
Staking Rewards: During special occasions, SUN token holders can engage in staking to earn rewards. This activity is particularly beneficial for users who are actively engaged in the platform, such as those who use SUN to participate in token mining or other platform functionalities.
Token Redenomination and Platform Upgrade: As part of an infrastructure upgrade, SUN underwent a token redenomination, swapping old SUN tokens with new ones at a ratio of 1:1000. This redenomination aimed to lower the entry barrier for holding SUN tokens and facilitate the growth of the SUN ecosystem. The total supply of SUN tokens increased from approximately 19.9 million to 19.9 billion through this process, while the market cap remained unchanged. The upgrade also introduced decentralized stablecoin swap services on the platform.
Sun Token was created by Justin Sun, a prominent figure in the cryptocurrency space and the founder of TRON. Justin Sun's expertise and experience in blockchain technology have been fundamental in the development and success of the SUN token, which offers a wide range of decentralized finance (DeFi) services.
