Main to remember
- Sunperp, a perpetual Dex on a tron, will spend 100% of the revenue of protocol buying $ sun tokens.
- This reproduces similar redemption and burning initiatives by Tron project like Sunpump.
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Sunperp, a decentralized exchange for perpetual contracts on the Tron network, announced today that it would allocate 100% of its protocol income to buy $ Sun Tokens.
This decision reflects similar initiatives through projects related to Tron. Sunpump has implemented a comparable income buy -back mechanism, using all the profits of the protocol to buy and burn tokens in order to reduce the offer.
Justin Sun, founder of the Blockchain Tron, previously launched token buyback programs. In 2021, billions of Sun $ tokens were allocated as mining awards to stimulate liquidity and participation in the Tron DEFI ecosystem.
$ Sun serves as a governance and indigenous utility token for the Sun.io on Tron decentralized financing platform. The Tron network deals with more than 50% of all USDT transactions worldwide, daily transaction volumes often exceeding billions of dollars.
The redemption strategy aims to reduce the supply of tokens and potentially increase the value of holders by creating a coherent demand thanks to reinvestment of income.
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