HomeCryptoAltcoinTRON: the SUN Genesis Mining project is launched

TRON: the SUN Genesis Mining project is launched

Justin Sun recently announced on Twitter the launch of a new DeFi project named SUN Genesis Mining, based on the TRON blockchain of course.

The project – defined “meme coin” and whose logo represents a sun with sunglasses – is intended to be guided by the community to try to replicate the various most famous DeFi protocols such as Maker DAO, Compound, Aave and others.

This is an experimental project, which has not received any investment from Venture Capital, equity investors or pre-mining for team members.

“We want to build SUN into a grand social experiment while paying tribute to the spirit of decentralization as advocated by Satoshi Nakamoto,” explained the TRON Foundation on Medium.

Mining will start on September 2nd and continue for 14 days, then end on September 16th, which will be called Sun Day. 

The total supply is just under 20 million tokens.

In order to receive these tokens, users will need to stake TRX on the sun.market website. During an early stage period of the project, the reward will be 10% higher compared to the following period.

This token will be used as collateral for the USDJ stablecoin and will be distributed as a reward for the mining of Just Swap pools and thus to liquidity providers, resulting in what is called yield farming.

TRON and the new blockchain projects

This is important news for the entire TRON ecosystem. 

Recently it was also announced that TRON has integrated a decentralized oracle solution using Band Protocol, which means that all protocols will be able to take advantage of the security of a constantly updated price, a key feature for the DeFi industry.

Surely it will be an interesting project and the mining path, instead of the classic airdrop, is also a change for this blockchain, forcing users to interact with the protocol rather than passively use the system to get a simple airdrop.

Alfredo de Candia
Alfredo de Candia
Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.