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SunPump Transaction Costs to Drop Following New Initiative
SunPump and OKX Wallet collaborated to expand the trading of Tron blockchain’s meme coins. The initiative adds to the list of Justin Sun’s commitments to increase adoption.
The advent of SunPump initiated competition with Solana’s Pump.fun, positioning the two launchpads at the center of the colloquial ‘meme coin wars’.
SunPump Partners With OKX Wallet
SunPump meme coins consumers will realize energy subsidies on OKX Wallet, meaning reduced on-chain transfer charges. The collaboration will enhance adoption for both parties.
“OKX Wallet has launched the energy subsidies for meme coin trading on the TRON ecosystem, reducing on-chain transaction costs for TRON users. You can now easily trade memes on SunPump through OKX Wallet,” read the announcement.
It adds to the list of ticked checkboxes on Tron founder Justin Sun’s recent commitments to scale the network without affecting profitability. Mentionable strides include reducing TRON fees, implementing a 100% buyback and burn process, and energy cap enhancements. With these, Tron’s meme coins and the entirety of its ecosystem may become even more alluring.
Notwithstanding, Justin Sun says more network transaction fees are coming, citing a proposal from TRON community Super Representatives. This indicates continuous efforts to increase network activity.
Read more: What Is TRON (TRX) and How Does It Work?
Despite these efforts, there are concerns about the network losing steam. BeInCrypto reported Solana’s Pump.fun outpacing SunPump in token deployment and revenue. Data on Dune Analytics shows Solana’s token launchpad is unrelenting despite SunPump’s recent buzz.
In the last 24 hours, only 1,027 tokens were deployed on SunPump against Pump.fun’s 7,168 deployments.
On revenue metrics, Pump.fun has generated almost nine times as much revenue as SunPump in the same period. Similarly, Solana’s meme coin generator has achieved ten times more revenue than its Tron blockchain counterpart between Thursday and Friday.
John Brown, a user on X, slams SunPump for making the Tron blockchain more expensive compared to Ethereum Layer 1 (L1).
TRON became popular for low-cost stablecoin transfers. Now, with sunpump, TRON is more expensive to use than Ethereum L1. A strategic blunder for a flash in the pan, Brown wrote.
Meanwhile, the reduced hype can also be ascribed to fears concerning Justin Sun after several transparency and operational problems. Among them, he covertly bought TUSD stablecoin and the concentration of staked USDT in Huobi Global’s reserves after the launch of the stUSDT yield investments in 2023.
Based on these concerns, BitGo’s recent Wrapped Bitcoin (WBTC) custody plan drew scrutiny because of Sun’s involvement. Users were concerned about Sun having a significant influence over WBTC. Knowledgeable about the FUD (fear, uncertainty, and doubt) that crypto markets cling to, Justin Sun announced the launch of a detailed protocol revenue dashboard to track the protocol’s performance.
“Tronscan has launched a more detailed protocol revenue dashboard to help the community better understand our protocol’s performance. You can see that over the past 365 days, the Tron protocol has generated $1.57 billion in revenue, marking a 115% year-on-year increase. In the last 30 days, revenue reached $226 million, representing a 48% increase compared to the previous month,” Justin Sun shared.
Based on the tracker, he anticipates a $2 billion revenue score, or higher, this year as Tron strives to become the highest revenue-generating blockchain globally.
Despite the record of accomplishments, Tron’s TRX token’s performance does not reflect the optimism. BeInCrypto data shows TRX is trading for $0.149 at the time of writing, down 0.7% since Friday’s session’s opening.
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