Tron’s Sun.io Unveils $10M Memecoin Platform to Rival Solana’s Pump.fun

Sun.io, a decentralized finance project built on the Tron blockchain, has rolled out SunPump, a protocol enabling anyone to create and launch memecoins on the Tron mainnet. The Tron and SunPump teams will inject $10 million into the latest initiative to provide resources for tokens created on the protocol.

What is SunPump?

SunPump rivals the Solana-based project Pump.fun, which has the same functionality. Since its inception in January 2024, Pump.fun has allowed users to create memecoins on the Solana mainnet with a $2 charge. However, the project’s developers recently removed the $2 fee, triggering a significant spike in the number of tokens generated and revenue fees.

While SunPump and Pump.fun ease the creation of meme tokens, it also raises the question of these memecoins’ credibility. Many crypto community members believe that bad actors can exploit the easy token creation process to deploy malicious tokens and eventually rugpull suspecting users.

Addressing how SunPump aims to tackle the challenge, Justin Sun, the founder of the Tron blockchain, stated:

“To address this, the Sun team is committed to enhancing our review processes, introducing community oversight, and promoting transparency to ensure the safety and trust of our users. SunPump conducts a thorough vetting of creators and projects before they are allowed to launch on the platform, helping to ensure that they meet specific standards of integrity.”

Sun also discouraged bad actors by revealing that memecoins who maintain $1 million in trading volume for three consecutive days will qualify for listing on Poloniex, a Seychelles-based crypto exchange partnering with the Sun.io and Tron teams.

SunPump Soaks Nearly $200K TVL

Despite its nascency, SunPump has captured the attention of many users across the Tron ecosystem. When writing, the memecoin generator has recorded over $192,000 in total value locked (TVL), as revealed on the blockchain analytics platform DeFiLlama.

This metric will likely increase as the project prepares to debut on the blockchain platform DexScreener next week. In preparation for a surge in engagement, the Tron founder noted that SunPump has increased its server capacity by ten.