Sun Token, known by its symbol SUN, is a cryptocurrency designed to promote the development of decentralised finance (DeFi) on the TRON blockchain. SUN powers the Sun platform, which integrates various DeFi services such as asset exchange, liquidity mining, stablecoin exchange, and decentralised autonomous organisations to facilitate the growth of the TRON DeFi ecosystem.
Sun Token operates on the TRON blockchain, which utilises a Delegated Proof of Stake (DPoS) consensus mechanism. This allows users to vote for validators responsible for creating new blocks, ensuring decentralisation and efficiency. SUN makes use of smart contracts, executed on the TRON Virtual Machine (TVM), to automate DeFi services including token swaps, yield farming, and staking, with governance processes allowing token holders to participate in decision-making.
The primary use cases for Sun Token include:
Sun Token was founded by Justin Sun, the creator of the TRON blockchain, to establish a comprehensive DeFi ecosystem. Launching in September 2020 through Genesis Mining, the initial distribution model allowed users to stake TRX to earn SUN tokens. The acquisition of JustSwap marked a significant milestone, enhancing its service offerings. Sun Token adheres to a no-pre-mining policy, emphasising fair distribution and community-driven development. Initially a basic service, the SUN platform has evolved into a fully integrated DeFi hub.