OKEx launched SUN, Tron’s first mining project, with an increase of 90% at the opening price, ranking first in the list of gains
According to the news on September 11, according to the official announcement of OKEx, TRON’s official first mining project SUN has been launched today. After the first batch of market transactions opened, the market sentiment was high. According to OKEx market data, the market price of SUN reached a maximum of 38 USDT. According to the opening price of 20 USDT, the highest increase reached 90%, ranking first in the daily increase list of OKEx.
It is understood that SUN is an important part of TRON DeFi. It will establish a good ecological relationship with DeFi projects developed in the TRON public chain, and can participate in multiple parts such as decentralized lending, insurance, liquidity, and currency stability.
The founder, Justin Sun, said that Suncoin SUN is determined to build it into a Bitcoin on TRON, with zero VC investment, zero private equity investment, zero pre-mining, and zero team reservation, completely relying on the community and open source smart contracts.
It is reported that Suncoin SUN has improved the governance ideas of Bitcoin. While preserving the absolute fair distribution of bitcoins, it has given governance significance to Suncoin SUN, so that the Suncoin SUN community can completely realize autonomy.
According to official information, the mining of SUN is divided into three stages: the creation stage, the official stage and the circulation time. in,
Creation phase (September 2-September 16): Users can mine SUN by locking TRX to the smart contract until September 16. The mining rewards in the creation phase will be 10% more than those in the formal phase. After the Genesis Mining ended on the evening of September 16, SUN was automatically issued to users who locked their positions for mining by smart contracts, and users could withdraw locked TRX and rewarded SUN after 24 hours.
Official stage (September 17 and later): In the official stage, lock mining of TRX, JST, USDJ, WIN, BTT, and community projects will be set up. Users do not need to lock their positions forcibly, and mining funds and rewards can be withdrawn at any time. Go, in the future, users who hold SUN can also participate in the voting process similar to SushiSwap.
Circulation time: Genesis mining ends at 23:00 on September 16, and then the official mining begins. 24 hours later, at 23:00 on September 17, users can withdraw locked TRX and rewarded SUN, and SUN is on the market began to circulate.
It is worth noting that the genesis mining period is an early bird period, and users who participate in the early stage will dig 10% more solar coins than during the regular mining period. Fourteen days later, the smart contract will return all funds without taking any money, and will also issue Genesis Mining rewards.
The listing of SUN on OKEx this time is a typical strong alliance in the industry. The rapid rise of SUN after listing on OKEx also confirms the market's recognition of the combination of the two.
It is understood that, as a mainstream CeFi institution, OKEx is also the first head exchange to pay attention to and list DeFi currencies. Its online DeFi projects include more than 30 recent popular PNK, DIA, etc., as well as previous MKR, DAI, DMG, BAL, etc. For these high-quality projects, OKEx also took the lead in opening the DeFi project trading area, effectively realizing the connection between DeFi projects and the mainstream market.
In addition, OKEx is currently participating in the development and construction of the DeFi ecosystem in a deeper way. For example, for some more mature DeFi with high user demand, it realizes a full product line of trading services, including services such as opening currency, leverage, Yubibao, and other derivatives. And support some unique DeFi products, such as the world's first trading platform that integrates the Dai deposit rate, integrates the OKEx mining pool with Dai, and allows users to directly deposit Dai into the Dai deposit rate on the OKEx platform, etc.
From the perspective of the industry, OKEx fully supports the development of DeFi and will discover more possibilities for the market. CeFi and DeFi will achieve effective collaboration and seek to achieve a win-win situation. As OKEx CEO JayHao said: "OKEx is optimistic about this track and pays close attention to DeFi, not only to look forward to new opportunities that may arise, but also to witness another miracle in the digital asset market."
