The post SunPump vs. Pump.fun: Why Justin Sun’s Tron Token Is Winning the Meme War! appeared first on Coinpedia Fintech News
Justin Sun, the founder of Tron and a notable figure in the cryptocurrency space, has announced a significant change in the SunPump meme token community’s strategy. The community has decided to pivot from the initial plan of burning liquidity pool (LP) tokens to implementing a fully on-chain buyback and burn process. This shift marks a move towards greater transparency and simplicity in token management.
With this latest meme war, both SunPump on Tron and Pump.fun on Solana go head-to-head, each offering their twist on token creation.
Here’s the insight!
Why the Change?
Initially, the community considered burning LP tokens, a practice seen with other meme tokens like Shiba Inu. The rationale behind LP token burning was to enhance token liquidity depth and make the burned liquidity more regulator-friendly. However, Sun highlighted that the complexities and misunderstandings associated with LP token burning were confusing community members.
Simplified Buyback and Burn Process
Starting September 3, SunPump will implement a 100% on-chain buyback and burn process. This approach aims to simplify and clarify the token management process. Sun emphasized that the new method is easier to verify and understand, as all buyback and burn transactions will be recorded on the blockchain. This immutability ensures transparency and eliminates the need for detailed explanations.
SunPump’s adoption of this strategy mirrors practices seen in other areas of the cryptocurrency industry, such as Binance’s use of buybacks and burns for its BNB token. The move aims to provide a more straightforward approach that can be easily audited and verified on the blockchain.
Recent Performance: SunPump vs. Pump.fun
In recent developments, SunPump has outperformed its Solana-based predecessor, Pump.fun, in terms of daily revenue and activity. On August 21, SunPump reported 7,351 new tokens launched and $585,000 in revenue over 24 hours. In comparison, Pump.fun saw 6,701 new tokens and $366,000 in revenue during the same timeframe.
In the meanwhile, the SUN token has surged 231% this past month, reaching a market cap of $322 million, though it dipped 5% in the last 24 hours to around $0.0324.
Is the Tron memecoin hype just a flash in the pan, or is it stealing the spotlight from Solana?