An Open Letter to the Community: About SUN Genesis Mining
Updated: Apr 26
After extensive planning and deliberation, we are making a major announcement today: we have decided to launch SUN Genesis Mining.
Designed as the quintessential Bitcoin equivalent on the TRON network, SUN features zero venture capital (VC) investments, zero private equity investments, no pre-mining or reserves for the team, and is wholly operated by the community through its open-source smart contracts. We want to build SUN into a grand social experiment while paying tribute to the spirit of decentralization as advocated by Satoshi Nakamoto.
SUN, manifesting total community self-governance, is not merely TRON’s first ‘meme’ coin yet a living demonstration of the coalescence of encryption with artistic expression. We respect and appreciate crypto culture featuring humor and self-mockery, which is a critical source of power that continuously drives the spirited adoption of cryptocurrency.
SUN, being completely community-driven, focuses on the decentralized finance (DeFi) potential of TRON. We understand that a series of self-governance communities such as MakerDAO, Compound, AAVE, YFI, etc. have emerged on Ethereum. We hope to use SUN to promote the vigorous development and possibilities of TRON’s DeFi self-governance community.
SUN is the product of TRON’s booming DeFi business, but its role will go far beyond that. SUN will evolve into a lasting, decentralized, and self-governed space. I hope the entire crypto community may judge its success, not by its price or profitability, but instead by finding understanding in the symbolic, indomitable spirit that underpins the SUN: its community!
From my perspective, SUN is an experiment centered around community governance. I hope such a radical experiment of social self-governance will encourage the SUN community to propose, discuss, vote, and even implement many more bold and revolutionary proposals. In a genuine effort to allow a community to govern itself, I initiate this grand social experiment, where everyone participating in Genesis mining will become part of the community and help guide its future. I hope that from its inception, regardless of its success, this social experiment will provide valuable experience related to blockchain governance for TRON and the blockchain industry as a whole.
While inheriting Bitcoin’s trait of absolute fair distribution, SUN improves on how governance is carried out in a bid to fully achieve self-governance of the SUN community.
As an ordinary member of the community, I will also participate in community discussion and governance to contribute my fair share to the growth of SUN’s community. The community has been at the core of the cryptocurrency industry. I believe SUN will become a nexus for sincere community-builders to collaborate on the TRON ecosystem.
SUN Genesis mining will formally kick off on September 2, 2020. On September 16th, we will celebrate the official launch of SUN by naming that day ‘SUN Day.’ The total supply of SUN will be 19,900,730.
To participate in Genesis Mining, simply deposit your TRX in your TronLink wallet and log in to the Official website SUN.Market or sun.io using TronLink. This is how users can take part in the initial mining of SUN. In 14 days, the smart contract will refund all assets back to users’ accounts, charging no handling fees. DON’T SEND TRX OR ANY TOKEN DIRECTLY TO SMART CONTRACT! THIS WILL LEAD TO THE LOSS OF ALL FUNDS!
On September 16, we will distribute the rewards for Genesis mining and officially launch SUN mining. Genesis mining, in its early stage, will offer 10% more SUN tokens for mining than during regular mining periods.
Regular mining of SUN will add TRX, BTT, JST, WIN, and TRON ecosystem stablecoins such as USDT, USDJ, etc. After the official mining has launched, SUN will distribute part of the mining rewards to JustSwap’s TRX, BTT, JST, WIN, etc. liquidity providers. SUN will also continue to increase the liquidity mining pools of other tokens in the TRON ecosystem. Through the SUN community, the unlocked assets may be used as never before imagined; connecting the entire TRON ecosystem’s suite of services from lending, staking, and wealth management to trading, liquidity, stablecoins, and more.
I believe that the imagination of the SUN community will crystallize the infinite possibilities of the TRON ecosystem’s future. The future is here, let’s realize it together!