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Tron-based Tokens SUN and JUST To Get Listed by Yet Another Platform

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Tron-based tokens have become quite popular over the last few months. Thanks to the ongoing demand for decentralized finance [DeFi], Tron Blockchain has emerged as one of the main contenders in a space dominated primarily by Ethereum.

In the latest news, VirgoX, which happens to be a stablecoin focused digital asset trading platform, has announced its plans to list Tron-based SUN token and JUST [JST] and the initiation of trading with SUN/USDT and JST/USDT soon after.

SUN was essentially designed to further the development of DeFi on Tron’s blockchain. It was described as “the quintessential Bitcoin equivalent on TRON,” by the Tron Foundation. In addition, SUN is a voluntary project that runs on Tron’s TRC-20 token standard with a dedicated community administering operations via smart contracts. SUN also became the first token listed on Binance newly-launched Innovation Zone.

JUST [JST], on the other hand, is Just Platform’s Governance Token which was launched in May this year, during the Poloniex LaunchBase [Token Sale]. It is basically a two token system that aims to create a decentralized financial system that offers stablecoin lending and governance mechanisms for users around the globe. In addition to this, JUST was also listed for trading on the digital asset management platform, Bitrue.

Meanwhile, Coinbase Custody also recently announced that it was exploring to support multiple digital assets
such as Tron [TRX] and five popular TRON based tokens which included BitTorrent [BTT], Just [JST], Just Stablecoin [USDJ], WINK [WIN] and Sun Token [SUN]. Considering the fact that Coinbase Custody is a trusted crypto custodian with its core clients being institutional investors, potential listing development is crucial not only for the Tron ecosystem but also for the price of the individual tokens.

Support on Coinbase Custody could eventually open doors for Tron [TRX] and other Tron-based tokens being listed on the leading exchange, Coinbase.

Tron Foundation Announces Opening BTC-TRX LP Mining Pool on SUN Network

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Justin Sun-owned Tron Network has been making headlines in recent days. In the latest development for the Tron ecosystem, the foundation announced the issuance of a total of 1000 Tron-based BTC on the Tron network. The total market cap has reportedly surpassed $10,692,382.

The Founder of the Tron [TRX] blockchain and CEO of BitTorrent [BTT], Justin Sun tweeted

“Issued by JUST Foundation, TRC20-BTC is another masterpiece of TRON-based crypto-asset following the miracle of TRC20-USDT whose total supply has exceeded over 4 billion. All BTC holders may issue TRC20-BTC.”

The Tron-based BTC was whitelisted on the DeFi protocol, JustSwap on the 5th of October. Following this, the foundation further revealed a 14-day LP mining pool for BTC-TRX on Sun.io. The official blog post announced the initiation of a 14-day 1x BTC-TRX LP mining on the same day.

Tron Foundation

Touted as a “masterpiece”, TRC20-BTC is issued by JUST Foundation. It is the DeFi euphoria that has given rise to synthetic assets and as Bitcoin on Ethereum gets traction, the Tron foundation has been spearheading its own Bitcoin-pegged synthetic asset on the Tron Blockchain.

Tron has been making several notable strides to bolster its DeFi efforts. Sun had first teased the launch of synthetic Bitcoin on the Tron blockchain in August this year. The Tron Foundation announced working with top-tier digital payments processor BitGo to introduce tokenized Bitcoins and Etherereum on the Tron blockchain, a month later.

In terms of DeFi, Tron claimes to have an edge primarily due to the crucial factors such as high scalability and low fees offered by the blockchain as compared to its competitor, Ethereum whose perennial problem of network congestion is far from fading away.

Sun has never shied away from admitting that he wanted to build viable infrastructure and cloning Ethereum’s DeFi protocols on the Tron blockchain. Talking about the launch of JustSwap during the recent LA Blockchain Summit, he had asserted,

“We are creating the same kind of DeFi ecosystem as Ethereum. All the Ethereum network products, you can see the same version of Tron products. For example, the MakerDAO on Tron is called JustStable, created by the JUST team. And UniSwap is called JustSwap.”

Tron Foundation Announces HT Staking; HT/TRX LP Mining on SUN

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The most anticipated DeFi mining collaboration of the Tron ecosystem in 2020 has begun. The Tron Foundation first revealed this when it announced the staking of the HT and HT / TRX LP liquidity mining native token of Huobi Global on SUN.io.

Huobi revealed the opening of SUN deposits on 10 September 2020 by Huobi Inno Hub, shortly after which the trading and withdrawal of the coin was also initiated. It eventually launched a “Stake HT to Mine SUN” campaign aimed at releasing SUN tokens to reward HT users for participating in mining.

 

On 22 September, the Tron Foundation announced the entry of Huobi Token [HT] in the Official SUN.IO Observation List. And the cryptocurrency exchange Huobi Global issued the HT TRC-20 on the TRON blockchain. Shortly after the review, SUN began  HT staking and LP liquidity mining on sun.io

 

Along the same line, Tron Foundation had previously stated,

“The open-minded SUN mining pool community selects premium assets from across the globe to form mining pools. Candidates vary from TRC10/20 to non-TRC10/20 assets. The SUN community will cooperate with JUST team and major exchanges to implement cross-chain bridge, bringing forth the unprecedented unity among global crypto communities.”

The much-awaited launch of SUN community self-governance will enable the community to be fully governed by users who will vote with SUN for setting up new mining pools. The SUN token will then subsequently become a “transit center” within the DeFi space on Tron and will act as a cross-chain channel between TRON and external assets.

SUN- “a living demonstration in the coalescence of encryption with the artistic expression”

SUN is more than just TRON’s first ‘meme’ coin. It is a “social experiment” that is focused on the development of Tron’s DeFi ecosystem and is designed as the “quintessential Bitcoin equivalent” on Tron blockchain as it features no VC investments, PE investments, pre-mining nor reserve for the team, and boasts to be fully operated by the community through its open-source smart contract, thus inheriting Bitcoin’s trait of absolute fair distribution. SUN further improvises on how governance needs to be carried out in a bid to achieve a full-fledged self-governance of the SUN community.

A quick primer: SUN Genesis started mining on 2 September, and according to the Foundation’s open letter to the community, the blockchain-based company hopes that the coin will become a nexus for community-builders to collaborate on the Tron ecosystem. Besides, the SUN token also aims to drive the adoption of cryptocurrencies and will enable its holders to discuss, vote, and help implement unique proposals on the Tron ecosystem.

The letter by the foundation also read,

“We respect and appreciate crypto culture featuring humor and self-mockery, which is a critical source of power that continuously drives the spirited adoption of cryptocurrency.”

TRON’s Sun Network V1.0 release set to allow unlimited scalability, DAppchain MainNet to follow suit

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The number 13 ranked cryptocurrency by market cap, Tron (TRX), announced today the release of its side chain solution network, the Sun Network Version 1.0. It is official, Tron Foundation has just introduced to the market it’s scalability solution network that is known as Sun Networks V1.0 today.

The Sun Network is Tron’s first scalability solution version that promises to expand the capacity of its MainNet.

Integrating multiple scaling projects such as the cross-chain communications, smart contract optimized application side-chain, and DAppChain, the Sun Network V1.0 provides 100 times scalability solutions to its users. In addition to this, the Sun Network allows developers Decentralized Applications on sidechains.

In his usual style, Justin Sun, Tron Foundation founder and CEO, took to his Twitter page to announce the milestone of the launch of the initial version of the code base, the Sun Network’s DAppChain Code:

The start of the Sun Network V1.0 introduces two essential attributes the market has been longing for:

  • The Sun Network V1.0 supports Smart contracts settlements on its network with little transaction fees incurred by its users focusing more on the TPS of the smart contract transactions that occur on its MainNet.
  • Through the Sidechain, the Sun Network will support multiple customizable requirements such as the transaction confirmation speed, the transaction rates, and the setting side-chain incentives.

The launch of the Sun Network could not have come at any better time as many crypto pundits believe it will assist Tron in allowing unlimited scalability on its MainNet. By allowing the limitless scalability, the Sun Network V1.0 will pave the way for the development of decentralized applications and the growth of the entire crypto ecosystem.

According to Justin Sun, the success of the Sun Network will automatically have positive results to Tron TRX and the crypto community, positioning developers to reap significantly from the network.

Justin added,

“In addition to the positive results, the Sun Network promises the crypto environment, several scaling projects that include cross-chain communication and DAppChain further developing the general capacity of the Tron platform. Smart contract execution and TPS also stand to improve on the Tron MainNet following the launch of this incredible product.”

The crypto community is already a buzz towards the Sun Network a few hours into its launch with the prices of Tron TRX surging upwards by 1.13 percent within an hour.

At present, the market value of Tron TRX is 0.0204 US dollars with a market cap of 1.35 billion US dollars.

As one of the most significant cryptocurrency and blockchain technology in the world, Tron TRX has time and again proved itself as the leader of the DApp game by flouring its competitors Ethereum and EOS.IO for several weeks.

Despite leading the pack, Tron (TRX) seems not to be slowing down in developing and improving existing and new products. Apart from the latest news of the Sun Network launch, the blockchain technology, and digital coin launched its testnet in June to boost its decentralized application domain.

As a branch to Tron’s leading platform, the Sun Network V1.0 is designed to offer scalability solutions enhancing the transaction capacity.

The latest developments promise to redeem Tron as one of the brightest crypto projects in the market. Analysts are speculating the bulls might come out soon to ride the crypto asset to newer heights that might lead it to fall under the top 10 cryptocurrencies in the world.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Tron’s highly anticipated SUN network launches next week

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The launch of Tron’s new SUN network is scheduled for a little later on during this month. It’s been highly anticipated since the Tron Foundation started to divulge details about the new system on a press release last April 8th.

The SUN network will comprise decentralized applications sidechains and will enable users to operate across chains through infrastructure on other expansion sectors of the system. The new network will (as per Tron CEO),

“further expand the overall capacity of TRON network, improve the overall TPS and smart contract execution efficiency of TRON.”

DAppChain is the name given to the new Tron’s DApps sidechain extension, which is supposed to improve the current performance of the network’s dApps. Better energy efficiency is among the highlighted improvements in the new SUN DAppChain. Tron‘s DAppChain focuses on embracing customizable ways to run decentralized applications with meager consumption of energy, efficiency, and high security.

Deployment in three stages

DAppChain’s deployment will happen in three distinct phases. Phase one starts on May 30th, and it’s called “TestNet.” It’s all about smart contract support in the sidechain and about realizing the limitless proliferation of the Main Net under the asset security guarantee.

Then comes Phase 2 that will starts on August 10th. This is when the Test Net becomes the Official version of the DAppChain. Phase 2 is expected to make the network’s decentralization even better. It will also support the community in building and affecting the new side chain environment.

The final stage (Phase 3) happens from September 15th. Ease of deployment for dApps, improved transaction speeds, and sidechain tools’ integration for developers and users are the paramount aims in the third part.

The Tron Foundation promised that the plan for the SUN network is going to follow the cutting-edge development of industry, and aim to develop the TRON blockchain at its very best.

The new network’s focus on scalability and enhanced features is a natural consequence of the success that TRX adoption has had within the network’s dApps during the first quarter of the year. Faster transactions will guarantee a better user experience for Tron’s users and investors. It will also facilitate liquidity and accessibility.

Another priority for Tron is to consolidate its position as the crypto verse’s leader in dApps and, to a lesser degree, in smart contracts. It’s threading on Ethereum’s turf in this regard, which is probably why Justin Sun (the project’s founder and CEO) went on the record calling Tron “the Ethereum killer.” The platform’s dominance in dApps is creating a window of opportunity for the consolidation of the TRX cryptocurrency.

Blockchain-based gambling and gaming have been an essential target for Tron’s app activity and currency adoption. This probably happened because of the app developer’s interests rather than because of a concerted effort by the Tron Foundation, but the fact is that gaming apps are there, they’re quite successful, and some of them have imposing daily trading volumes. Nothing is surprising about that. Gambling and gaming also have a privileged position in the conventional web.

It’s expected that all this progress in the network’s infrastructure will bring about better market performance for Tronix, the network’s native token. That could already be happening as the coin has had three great trading days, rising significantly in value and outperforming most other currencies in crypto.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.