I. Overview of SUN.io
SUN.io is a social experiment dedicated to advancing TRON’s DeFi ecosystem. It leverages the community and open-source smart contracts to forge ties with other TRON-based DeFi projects by allowing them to participate in decentralized liquidity mining. As of now, SUN.io has gone through several iterations and brought JustSwap under its umbrella. The upgraded SUN.io incorporates TRON’s on-chain token exchange, liquidity mining, stablecoin swap, and self-governance, giving a solid impetus to TRON’s DeFi ecosystem underpinned by DEX. As a utility token native to SUN.io, SUN is used to govern the platform, buy back and burn rewards, and incentivize liquidity providers, manifesting TRON’s aspiration to extend benefits to the broader public.
SUN.io is the first integrated platform for token exchange, liquidity mining, stablecoin swap, staking, and self-governance on TRON, offering a wide spectrum of services:
● Quick and secure exchange between any two tokens at an optimal price — SunSwap
● Efficient stablecoin swap at lower slippage and fees — stablecoin pools
● User-governed liquidity mining that can be boosted — Governance Mining
● Lock SUN for multiple benefits — voting rights (veSUN)
II. SUN.io Governance Mining
Under the market-making mechanism of SunSwap, the depth of an LP pool is primarily contributed by liquidity providers (LPs). Users are encouraged to offer liquidity in return for a stabler price for swaps in stablecoin pools. To that end, Governance Mining on SUN.io allows users to stake LP tokens on SunSwap and in stablecoin pools to mine rewards. In the meantime, they can vote to decide on the weights of mining pools, or stake SUN for veSUN and use them to boost the mining rate. By offering diverse benefits, SUN.io incentives users to hold SUN in the long run and join the rank of liquidity providers.
Then, how do liquidity providers (LPs) choose the LP pools that suit them best and get steady returns from Governance Mining?
1. Holders of stablecoins (USDD/TUSD/USDT)
SUN has recently rolled out a new 3pool LP mining pool. As is shown in the figure above, this pool offers an APY of as high as 47.83%, making it absolutely an ideal choice for stablecoin (USDD/TUSD/USDT) holders.
There is also a stablecoin LP pool in Governance Mining of SunSwap V2. How do we choose between the 3pool LP Pool and the USDD-USDT LP Pool? We strongly recommend the former as 3pool offers fast, low-slippage, and low-fee stablecoin swapping as well as a higher APY.
Different from SunSwap, SUN adopts the StableSwap model for its stablecoin swap. As stablecoins evolve, the popular TRC20-USDT is no longer alone on TRON. TRON’s expanding stablecoin family has welcomed USDD, TUSD, and other new members. The growing, diversifying stablecoin market has given rise to strong and complex demand for approaches to swap one stablecoin for another, and the unique StableSwap model wins the market’s favor with its minimal fees and low slippage.
The 3pool deposits in the figure show that the liquidity of 3pool (USDD+TUSD+USDT) now totals $108,945,970.02
Its daily trading volume reaches $42,972,902.10, with a fund utilization rate peaking at 40%. It can be deduced from the metrics that the high fund utilization rate at present can be attributed to traders’ enthusiasm about 3pool. Only a few days into the launch, 3pool, with its low handling fees and slippage, has already become the go-to stablecoin swap choice.
2. Holders of non-stablecoins
The SUN platform has recently revamped its structure to deliver a smoother user experience. There is now a section of best-performing yield farming pools on the homepage of SUN.io, among which the USDD-TRX LP Pool offers a 89.49% APY, and the APY of the USDT-SUN LP Pool is as much as 41.45%. All TRON community members are welcome to take part in Governance Mining on SUN.io and earn generous rewards.
III. How to Participate in Governance Mining on SUN?
1. How to participate in Governance Mining?
Users need to hold LP tokens to take part in liquidity mining, and mining pools only accept their respective LP tokens. For example, the USDD-TRX LP mining pool only accepts USDD-TRX LP tokens.
LP token holders may visit the Liquidity Mining page on the SUN.io website, find the mining pool they want to participate in, enter the amount of the token they want to stake, and then wait to harvest their mining rewards when the staking begins.
2. How to earn more from mining?
1. Click on “Lock SUN to get veSUN” for the following benefits:
- Earn trading fees from stablecoin pools
- Enjoy boosted LP mining returns
- Vote to decide the weights of liquidity pools
The period for locking SUN lasts from 26 weeks (6 months) to 4 years (365 days*4). All locked SUN will be unlocked at the same time, and the maximum locking period is 4 years. veSUN calculation: Quantity of veSUN = Quantity of locked SUN * (Expiry date — Current date)/4 years. Users who lock SUN for 4 years (365 days * 4) can receive the same amount of veSUN as the SUN locked.
2. Join “Governance” and vote with your veSUN to increase the weight of a pool.
3. Already voted and want to know how much a pool can be boosted with your veSUN?
SUN.io strives to be a decentralized autonomous community with long-term vitality, and we will keep paying back our community users with rewarding mining projects. Users are welcome to try out the brand-new mining pools on SUN.io, and our door is always open to high-quality project teams. We will keep coming up with more exciting plans, so please stay tuned!
