DeFi Protocol Linked To Justin Sun Launches Tron Meme Coin Launchpad SunPump

Updated: 16 August 2024

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A decentralized finance protocol by the name of Sun.io, which is linked to Tron founder Justin Sun, has launched a Tron meme coin creation platform called SunPump.

The platform will allow users to create meme coins on the Tron blockchain, which will put it in direct competition with the Solana meme coin launchpad Pump.fun.

SunPump To Address Rug Pull Concerns

Although meme coins are often launched as a joke, there are multiple examples of these light-hearted projects climbing the crypto ranks to establish a name for themselves in the nascent crypto space. Altcoins such as Shiba Inu (SHIB), Pepe (PEPE) and Dogwifhat (WIF) have all risen on the charts after building a loyal following.

Platforms such as Pump.fun have made it relatively simple and cheap for anyone to create their own meme coin. This has subsequently made it a lot easier for bad actors to enter the market and rug pull tokens after investors have bought into the cryptos.

The Sun.io team aims to address this, and said in a recent interview that the team is committed to an enhanced review process, community insight as well as promoting transparency to ensure the trust and safety of the platform’s users.

“SunPump conducts a thorough vetting of creators and projects before they are allowed to launch on the platform, helping to ensure that they meet specific standards of integrity,” the team added.

Projects Could Score Listings On Poloniex

In the interview, the Sun.io team was asked what sets their platform apart from Pump.fun, which has become a popular meme coin launchpad for developers over the past few months. The team said any projects that maintain a $1 million daily trading volume for 3 days will get listed on the Poloniex exchange, which is made possible through their partnership with the platform.

@trondao and @sunpumpmeme are jointly launching a $10M Meme Ecosystem Boost Incentive Program, exclusively for tokens launched on SunPump! This initiative is designed to supercharge projects with resources and support to reach new heights. pic.twitter.com/bplApz3bI2

— SunPump (@sunpumpmeme) August 15, 2024

Tron and SunPump will also allocate $10 million towards the creation of the Meme Ecosystem Boost Incentive Program. This initiative is designed to provide resources to newly-launched tokens.