Bitrabo Editorial
The Tron ecosystem has witnessed increased adoption, leading the community to reach a consensus on the revenue allocation strategy proposed by Justin Sun for the Sun Pump Protocol.
This agreement marks a crucial milestone for the Tron network as members have agreed on how to distribute funds generated, ensuring the project’s growth and fostering better community relations.
Tron Community Decides on Sun Pump Revenue Allocation
Justin Sun sought the community’s input on Monday regarding the allocation of revenue from the SunPump protocol, a meme coin deployer on the Tron network.
The community deliberated on various areas where the revenue could be utilized, including SUN token repurchasing, enhancing liquidity on the SUN/TRX pool, completing liquidity donations, and burning of LP tokens. Today, the community has united on a decision, showcasing increased cooperation within the Tron ecosystem.
Following discussions, the community opted for a 100% on-chain buyback and burn process for the generated revenue. This method allows for transparent verification as all fund burn records will be on-chain without the need for justifications.
The decision to burn LP tokens was influenced by the successful utilization of this approach by mainstream meme tokens like Shiba Inu (SHIB). Justin Sun endorsed this decision, emphasizing its implementation for its potential benefits.
The approach is perceived as regulator-friendly, enhances token liquidity depth, and enables the utilization of the burned liquidity. Despite its advantages, Sun acknowledged potential risks associated with the approach, citing complexity as a possible challenge for community members.
Tron Network’s Gas Revenue Sees Significant Growth in August
Tron’s strong industry position was reaffirmed by a notable increase in gas revenue in August. Data from leading on-chain tracker Lookonchain revealed a remarkable 46% rise in the network’s gas revenue.
Tron outperformed major networks like Ethereum, Solana, and Bitcoin, which experienced declines of over 33%, 16%, and 48%, respectively. This surge underscores Tron’s growing prominence in the blockchain space.