SunPump: Your Gateway to Meme Tokens on TRON
The meme coin corner of the crypto market has been growing by leaps and bounds, turning into one of the central pillars of the industry over the past few years. It all started in 2019 when Elon Musk decided ā either playfully or completely seriously, no one knows for certain ā to promote Dogecoin (DOGE) on a social network (Twitter/X) that would eventually become his property. Five years on, meme coins are all the rage among crypto investors who arenāt shy of risk.
While Ethereum (ETH) and particularly Solana (SOL) have contributed the most to the current meme coin bounty, the TRON (TRX) blockchain has recently joined the race with the launch of SunPump, a meme coin generator designed for the fair launch of tokens via a bonding curve mechanism. Launched in mid-August 2024, SunPump quickly (though temporarily) overtook another trending meme coin generator platform, Solana-based Pump.fun, measured by daily token launches and revenue. SunPump's astounding rise in popularity even contributed to TRON's own success, with the TRX coin's market capitalization jumping sharply ā from around $11 billion on the day of SunPump's launch to $14.5 billion just two weeks later.
Key Takeaways:
SunPump is a TRON-based app that facilitates the fair, affordable and user-friendly launches of meme coins.
Within days of its launch on Aug 13, 2024, the platform temporarily overtook another popular meme coin generator, Solana-based Pump.fun, by daily revenue. It remains enormously popular among meme coin issuers and investors.
What Is SunPump?
SunPump is a meme coin generator platform based on the TRON blockchain. The platform is designed to facilitate the fair launch of meme coin assets in an affordable and user-friendly way. Tokens launched via SunPump have no pre-sale or team allocation schedules, reducing the likelihood of scams and preferential treatment so common in the meme coin world.
SunPump was launched on Aug 13, 2024 by SUN.io, a major TRON-based decentralized finance (DeFi) provider of liquidity and trading services. SUN.io had earlier developed and launched the SunSwap protocol, which offers traders liquidity mining, token swaps and stablecoin-focused pools. The SunPump platform is integrated with SunSwap to provide liquidity and token swap opportunities.
SunPumpās platform quickly attained tremendous popularity, reaching more than 7,500 daily token launches on Aug 21, 2024, just eight days after opening up to the public. On that day, SumPump overtook another trending meme coin generator, Solana-based Pump.fun, by number of token launches. A day earlier, it had soared above Pump.fun by daily revenue.
Source: Dune.com
Although SunPump retreated from its late August highs by early September, 2024, it remains one of the most trending meme coin crypto platforms, with over 80,000 tokens launched as of Sep 16, 2024.
How Does SunPump Work?
Launching meme coins on SunPump is easy, quick and affordable. Token issuers pay a creation fee of just 20 TRX ($3). The convenient user interface allows issuers to provide basic token details, such as the tokenās name, ticker, description and logo. There are also options to block automated bot-based pre-purchases in order to ensure the security of the launch process. All tokens must conform to the fair launch system (i.e., no team allocations and no presale rounds).
Users interested in buying tokens on SunPump can browse through the platform's website, evaluate the meme coins and easily place orders. There's a 1% transaction fee on all trades. Newly created tokens are subject to a bonding curve mechanism thatās intended to increase the tokensā value as more people buy them.Ā
When the token reaches its 100% bonding curve, typically at a market cap level of around $69,420, $12,000 worth of it in TRX coins is deposited to SunSwap and burned.
SunPump is fully integrated with TRON and the SunSwap platform, allowing meme coin traders to conduct buy and sell operations through SunPump.
Top Meme Coins on SunPump
Some of the more popular SunPump meme coins have reached tens of millions of dollars in market capitalization, with two coins having crossed into triple-digit millions of dollars as of Sep 16, 2024. Below are the top seven SunPump meme coins by market cap as of that date.
Source: CoinGecko
The current absolute leader in rankings is Sundog (SUNDOG), a dog-themed meme coin whose issuer assures us that this canine will "take us to the Sun." Given that TRON founder Justin Sun is a highly popular personality within the blockchain's ecosystem, the proliferation of SunPump meme coins with the word "Sun" in it is rather unsurprising.
A distant runner-up in the rankings is Tron Bull (BULL). With a $107 million market cap, this is the only other meme coin on the platform to breach the $100 million barrier.
The next few coins in the rankings have market caps of roughly $6 million to $19 million. Rounding off the list of the top seven are two more sun-worshiping coins ā SunWukong (SUNWUKONG) and SUNCAT (SUNCAT).Ā
At the moment, SumPump looks to be a truly sunny place!
SunPump vs. Pump.fun
Since the early days of its market presence, SunPump has been compared to the Solana-based meme generator Pump.fun. Both platforms have a strikingly similar functional setup. Similarly to SunPump, Pump.fun features a fair-launch mechanism, a bonding curveābased token buying process, and the ability to sell at any time tokens that have been bought previously. The two platforms have become the most popular meme coin generators, and have been in fierce competition with each other since late August 2024.
On Aug 20, 2024, just a week after its launch, SunPump overtook Pump.fun by daily revenue for the first time, registering a 24-hour revenue of $2,768,648 TRX (around $396,000 at that time) vs. Pump.fun's $170,237 (per data from Dune.com). The next day, SunPump was reported to have overtaken its rival by number of daily token launches as well.
SunPump remained ahead of Pump.fun as measured by daily revenue, until Aug 31, 2024, when the latter regained the lead. Despite retreating from its late August highs, SunPump remains one of the two most popular meme coin generators as of mid-September 2024.
Getting Started With SunPump
In order to start trading or issuing tokens on SunPump, youāll first need to connect a crypto wallet compatible with the TRON ecosystem, such as TronLink or TokenPocket. Upon connecting the wallet, youāll be issued a personal profile. On the Personal Profile page, you can view all of your token(s) and transaction information.
Meme coin traders can explore the plethora of available assets on the platform, viewing detailed information for each token on its dedicated page. Besides the token name, ticker, logo and basic description, key details include the overview of token distribution, its trading price, market cap, creator address, launch date, trading volume and the current bonding curve percentage thatās been completed. When you choose your preferred meme coin, you can buy it on its bonding curve using TRX coins. Naturally, youāre also advised to do your own research via external sources as well before investing in any meme coin on the platform.
The bonding curve model might lead to the token's significant price appreciation as more investors choose the asset. Naturally, this isnāt a guaranteed outcome. You may also sell the asset at any time in order to lock in profits or cut your losses.
Closing Thoughts
The meme coin mania that originally began on Ethereum and proceeded to infect Solana has now reached TRON. SunPump is the first major endeavor by Justin Sun's platform to become a key player in the fast-growing and potentially lucrative market focused on these digital assets. The meme coin app has not only made a name for itself, but also lifted the fortunes of TRON's TRX coin as well. It took Solana's Pump.fun several months after its launch to become truly popular, but SunPump has done it within a matter of days ā and it continues to power on. As of the time of this writing (Sep 16, 2024), hundreds of new meme coins are being launched on the platform every day.
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