SunPump Token Adopts 100% On-Chain Buyback And Burn, Outpaces Solana Rival Pumpfun
In a bold move, Tron founder Justin Sun announced that the SunPump meme token will adopt a 100% on-chain buyback and burn mechanism, marking a significant shift in the tokens strategy.
Moving away from traditional LP token burns, SunPump will now focus entirely on its on-chain buyback and burn process, starting immediately.
BREAKING: JUSTIN SUN LAUNCHES 100% ONCHAIN BUYBACK FOR SUNPUMP
Justin Sun, founder of Tron, replaces the initial LP token burn with a full onchain buyback and burn process for SunPump, ensuring transparency and simplicity.$SUN pic.twitter.com/BOIQvzcuKr
JAKE (@JakeGagain) September 3, 2024
This new approach is designed to enhance transparency, as all burns will be recorded directly on the blockchain, making them easy to verify and track. Suns decision to flip the script for SunPump emphasizes the importance of on-chain transparency, setting a new standard for how buyback and burn mechanisms can operate in the DeFi space.
Meanwhile, SunPump has been making waves in the market, outperforming its Solana-based rival, Pumpfun. Over the past 24 hours, SunPump launched 7,351 new tokens and generated an impressive $585,000 in revenue. In comparison, Pumpfun lagged behind, issuing 6,701 tokens and pulling in $366,000.
Pump.Fun Fee Account Sold 10,300 SOL, Valued At $1.38 Million
Adding to the competitive atmosphere, the Pumpfun Fee Account recently sold 10,300 SOL, valued at $1.38 million, at a price of $134.46 each. This sale is part of a larger trend for Pumpfun, which has offloaded a total of 264,373 SOL, amounting to $41.64 million, at an average price of $157.5.
The https://t.co/DrKlYnPPqY Fee Account sold 10,300 $SOL($1.38M) at $134.46 again 40 mins ago!https://t.co/DrKlYnPPqY has sold 264,373 $SOL($41.64M) at an average price of $157.5.https://t.co/dZDKPfB4vU pic.twitter.com/mRLYK100zl
Lookonchain (@lookonchain) September 3, 2024
As SunPump continues to gain traction with its innovative on-chain strategy, its clear that Justin Suns vision is positioning the token as a formidable contender in the meme token arena. With its commitment to transparency and a strong market performance, SunPump is setting itself apart from competitors like Pumpfun, signaling a promising future for the token in the ever-evolving world of crypto.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: maximusnd/123RF // Image Effects by Colorcinch
Read more: https://nulltx.com/sunpump-token-adopts-100-on-chain-buyback-and-burn-outpaces-solana-rival-pumpfun/
Text source: NullTX
