SUN coin is a blockchain project created to support one of the popular blockchain networks, Tron, in the field of decentralized finance (DeFi).
The founder of Sun coin is not fully disclosed, but is stated as a voluntary project. Though not officially confirmed, it is thought to be Tron founder Justin SUN. The project first started in September 2020 and was renamed with the bifurcation on May 26, 2021. In this direction, old SUN Coins were replaced with new ones and took their place in the sector as the new SUN.
SUN Coin is a token that provides voting and governance rights to its users, providing the functionality of the reward system of the ecosystem. SUN coin is fully community operated with open source smart contracts.
The usage areas of SUN coin, which was developed for the purpose of using in the field of voting and governance, are as follows:
- It is necessary to have SUN coins in order to benefit from in-community rights and rewards such as value capture and rewards.
- SUN coin holders get voting and governance rights.
- SUN coin can be traded, traded or used in any payment or money transfer from crypto currency exchanges.
The DEFI project aims to use the SUN coin in all of its various services. Working for the growth of the Tron ecosystem, the project aims to reach both its own users and Tron’s users.
SUN coin is listed by many major and reliable crypto exchanges. SUN coin; It is supported by crypto exchanges such as Binance, KuCoin, Bithumb, Bitfinex. Interested investors can purchase SUN coins by signing up for one of these exchanges and depositing money in their wallets.
What are the Advantages and Disadvantages of SUN Coin?
If we talk about the advantages and disadvantages of SUN coin after its development and name change:
Advantages
- It gives the user the chance to earn passive income through staking.
- The native token is supported by encouraging the use of SUN coin to gain some rights as well as governance within its ecosystem.
- Due to its designation as a social experiment, it is closely watched by the cryptocurrency community and supported to succeed.
- It is listed on all major cryptocurrency exchanges.
Disadvantages
- Due to the excessive fluctuation in prices, SUN Coin does not appeal to some investor groups due to high risk.
- The fact that it is supported in certain areas within the ecosystem supports the suspicions that this coin is used in a relatively limited area.
- The high total supply raises inflationary concerns in SUN Coin, making it difficult to predict the expected market value.
