The dynamic landscape of cryptocurrency has witnessed the rebranding of the Sun ecosystem, gaining versatility akin to CRV and EPS tokens. Among the standout assets of this ecosystem, SUN Coin, a governance token, is closely observed and followed within the crypto industry. For readers seeking to understand what this token has to offer and to uncover the technical specifics, our guide provides answers to the most pressing questions, including: What is SUN Coin? Where is it listed? What are its strengths, weaknesses, and unique characteristics?

What Is SUN Coin?

SUN Coin is the native token of Sun.io, developed as the first all-in-one platform supporting stablecoin swaps, token mining, and self-governance within the TRON network. As a TRC-20 token, SUN Coin provides users with voting and governance rights, ensuring the functionality of the ecosystem’s reward system.

The SUN Project and Whitepaper

SUN Coin was created to empower the Sun.io project, established to enhance the decentralized finance (DeFi) ecosystem on the TRON network. Initially operating under TRC-20 standards, the project focused on the functionality of the reward system and the growth of the TRON ecosystem.

In pursuit of new objectives, developers initiated the transformation of the old SUN Coins into the new ones beginning May 26, 2021. By carrying out a phased conversion at a ratio of 1:1000, the new SUN Coin, which serves as a multifaceted governance token, was introduced to the industry. Zatrun.com has also conducted a comprehensive review of the new SUN Coin and its unique features.

Founders of Coin and Their Background

The founder of Coin remains officially undisclosed, and the token is introduced as a voluntary project. However, with the support and official statements of TRON founder Justin Sun, there are indications pointing to his involvement.

The project, initially launched under the name SUN in September 2020, underwent a renaming process on May 26, 2021, converting the old Coins to the new ones at a ratio of 1:1000.

Use Cases of Coin

SUN Coin is designed to be used primarily in the areas of voting and governance, ensuring that:

• Token holders acquire voting and governance rights.
• Owning tokens is essential for accessing community-based rights and rewards.
• tokens can be bought, sold, traded with different cryptocurrencies, or used for any form of payment or money transfer as a representation of value.

What Sets the Project Apart?

The SUN project stands out by serving as the first all-in-one platform within the TRON network that supports stablecoin swaps, token mining, and governance capabilities.

In essence, SUN Coin aims to achieve a similar purpose as CRV for Curve DAO or EPS for Ellipsis. The newly renamed SUN Coin’s unique aspects are outlined below:

• SUN token is developed as a versatile governance token.
• Holding SUN tokens aims to reduce the entry barriers and foster the growth of the SUN ecosystem.
• The total token supply is increased at a ratio of 1:1000, maintaining SUN’s current market value.
• While it is presumed that Justin Sun is behind the project, it is introduced as a voluntary project.
• The project is characterized as a self-governing social experiment by Justin Sun and some circles within the crypto industry.

Advantages and Disadvantages of SUN Coin

The rebranding and development process, along with the initial creation of Coin, have introduced several pros and cons to consider. Let’s delve into these aspects to gain a comprehensive understanding:

Advantages:

1. SUN Coin incentivizes the usage of the token for governance and certain rights within the ecosystem.
2. It is listed on major cryptocurrency exchanges, including Binance, FTX, and Huobi Global.
3. Users can earn passive income through staking.
4. Being a social experiment, SUN Coin receives close attention and support in the broader crypto industry.

Disadvantages:

1. The lack of a maximum supply figure and a high total supply raise concerns about inflation, making it challenging to predict market value.
2. The token’s relatively limited use within specific areas of the ecosystem raises doubts about its broader utility.
3. Sun.io competes with many prominent DEX platforms, which may exert downward pressure on Coin’s price.
4. Coin’s high price volatility makes it unsuitable for certain investor groups due to the associated high risks.