What is Sun Token? How To Buy SUN In India?

The crypto space is composed of a variety of tokens that handle diverse use cases. Traditional crypto like Bitcoin was built to offer a parallel financial system, while Ethereum was designed to cover the loopholes of Bitcoin. In the meantime, the crypto space evolved from these tokens to DeFi, NFTs, AI-based, and more importantly stablecoin. 

What is Sun Token?

While in the times when multiple blockchains are working together, numerous bridges also offer to swap the tokens between them. Sun.io is one such platform that supports the swap of stablecoins along with token mining and self-governance. SUN is the native token of the Sun ecosystem that also includes SunSwap, a decentralized platform supporting TRC-20 swaps. 

SUN token can also be staked for veSUN which is the staking token for SunSwap’s yield farms. Moreover, SUN can also be used as a governance to vote on the liquidity pools. 

Who Are the Founders of Sun?

The founder of the SUN token is the founder of the Tron Ecosystem, Justin Sun. In fact, the name Sun ecosystem or SUN crypto has been derived from his name. He is a Chinese diplomat, crypto entrepreneur, and business executive. Tron is a leading DAO ecosystem and a global advisor to Huobi, a popular crypto exchange. 

Tron under Sun acquired the BitTorrent platform and also launched their own algorithmic stablecoin USDD. Justin Sun has received the title of ‘His Excellency’, accepting Grenada’s appointment to become their ambassador and Permanent Representative to the World Trade Organization. In October 2022, he was named to the Global Advisory Board of Huobi.

How Does Sun Work?

The Sun network’s main aim is to support the TRON chain aiming to create a decentralized internet ecosystem. It focuses on DeFi, aiding its uptake and infiltration on the Tron chain. The working of the SUN token is much similar to that of the native token of the other DeFi platforms. The holders here get rewarded for staking other coins and they can also participate in governance. 

In the beginning, during the launch the SUN token was not pre-mined and hence mining became the only way to earn it. This is done by staking TRX token or other token’s issued under Tron chain or TRC-20 standard. There were two phases of mining, Genesis mining and regular mining. The Genesis mining lasted began with the launch and lasted for a couple of weeks and produced 9.34% of SUN’s total supply. 

What Makes Sun Unique-Uses Cases?

SUN User Distribution

The user distribution depends on the amount of the bet they made and duration of its use. The users can also stop betting anytime and also claim back their tokens.

Security 

The SUN chain is secured with Proof-of-Stake algorithm that rely on community consensus and a financial incentive to secure network. 

High Adoption

The Sun network has spread across wide range of exchanges in a very short time, paired with other cryptos or stablecoins. Huobi, Binance and OKEx are some of the liquidity providers while OKEx also offers US dollar derivatives. 

SUN Tokenomics

The SUN is a digital token based on TRC-20 with a total supply of the token being 19,900,730. The distribution is completely decentralized through mining but based on smart contracts. The only way to mine SUN is to stake TRX

Sun Price Analysis

Source: Tradingview

• The Sun token price has been largely trading stagnantly after facing massive rejection during the first half of 2022
• However, the trend appears to have elevated since 2023 and hence the price is recording giant moves in recent times
• The Bollinger bands had squeezed and the recent break down compelled the price to test the lower support of the band
• The bands may now trigger a minor rebound that may help the price to recover finely

How to Buy Sun in India?

To buy Sun token in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration
• Complete KYC
• After your profile is verified, fund your wallet and buy a SUN token.