SunPerp commits full revenue to $SUN token buyback
SunPerp will use all protocol revenue to buy back $SUN tokens, aiming to boost value and reduce supply for holders.
Key Takeaways
- SunPerp, a perpetual DEX on TRON, will spend 100% of protocol revenue buying back $SUN tokens.
- This replicates similar buyback-and-burn initiatives by TRON projects like SunPump.
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SunPerp, a decentralized exchange for perpetual contracts on the TRON network, announced today it will allocate 100% of its protocol revenue toward buying back $SUN tokens.
The move mirrors similar initiatives across TRON-related projects. SunPump implemented a comparable revenue buyback mechanism, using all protocol earnings to purchase and burn tokens with the goal of reducing supply.
Justin Sun, founder of the TRON blockchain, has previously launched token buyback programs. In 2021, billions of $SUN tokens were allocated as mining rewards to boost liquidity and participation in TRON’s DeFi ecosystem.
$SUN serves as the native governance and utility token for the Sun.io decentralized finance platform on TRON. The TRON network processes over 50% of all USDT transactions globally, with daily transaction volumes often exceeding billions of dollars.
The buyback strategy aims to reduce token supply and potentially increase value for holders by creating consistent demand through revenue reinvestment.
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