This article was first published on Stories by TRON Foundation on Medium
I am very delighted to share with you the latest progress on SUN.io platform and the SUN project, a social experiment dedicated to the development of TRON’s DeFi ecosystem. Recently, the SUN team has implemented SUN Redenomination and Upgrade Plan, which I feel exceptionally proud of, as it will not only revolutionize the stablecoin DeFi ecosystem but also bring unprecedented changes to the entire blockchain industry.
To accommodate the requirements of the SUN project and infrastructure upgrade, SUN implemented a token redenomination and platform upgrade plan on May 26, 2021, which can lower the entry barrier of holding SUN tokens and spur the growth of the SUN ecosystem.
While maintaining its current market cap, the old SUN tokens are redenominated and swapped with the new SUN tokens at a ratio of 1:1000. Following the redenomination, SUN.io will undergo a major upgrade and introduce a new service — decentralized stablecoin swap, growing to be TRON’s first one-stop platform that supports stablecoin swap, token mining and self-governance. The new SUN token after the denomination functions as the multi-purpose governance token for the platform and grants SUN holders various rights and benefits, including the right to vote, community governance, value capture and staking rewards, etc.
Implementing the SUN redenomination and upgrade plan is a key step to realize SUN self-governance and will surely go down in blockchain history as a milestone. Not only will it help restore SUN’s true value and boost the DeFi ecosystem, but it will also equip the upgraded SUN.io platform with many strengths:
1. SUN will witness a strong price momentum after its listing on a large number of leading digital asset exchanges. Among existing stablecoin DeFi platforms, the upgraded SUN.io will be benchmarked against Curve on Ethereum and Ellipsis on Binance Smart Chain (BSC). Both ...
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Stories by TRON Foundation on Medium