In Brief
The Tron blockchain has cut gas fees on SunPump by 50%. Justin Sun is encouraging users to take advantage of these lower transaction costs. He’s also hinted at more developments to boost daily transactions and grow market share.
SunPump has quickly gained traction. It offers a platform for token generation that’s starting to outshine Solana’s Pump.fun.
Tron Reduces Gas Fees By 50% on SunPump
Justin Sun shared this news in a Tuesday announcement. This follows up on his promise from last week to lower fees and increase the energy cap without hurting profitability. As of August 22, the transaction fee for SunPump on the TRON network was 0.76 TRX per transaction. That’s about 0.118 USD per transaction. With the 50% reduction, SunPump’s fees are now very competitive.
“We’ve just reduced the gas fee for SunPump trading on Tron by 50%. Happy trading! If you thought the fees were too high before, it’s time to come back! We’ll keep working on lowering the fees for trading meme tokens on Tron,” Sun stated.
This announcement comes right after the Tron blockchain raised its energy cap to 120 billion. The community approved this move to attract more TRX token stakers. These steps fit into Justin Sun’s ambitious plan to reach over 20 million daily transactions in the next three months.
Sun promotes SunPump as “the kingdom of memes.” He’s tapping into the latest trend of Tron meme coins. According to CoinGecko, Tron meme coins have a market cap of over $362 million. The top three meme coins on Tron by market cap are Sundog (SUNDOG), Dragon Sun (DRGN), and SunWukong (SUNWUKONG).
This growth has put Tron’s SunPump in a competitive position against Solana’s Pump.fun. Sun believes that this competition could lead to a better experience for users.
“I love competition. It enhances user experience, provides better services, and delivers better outcomes for everyone. Let’s compete and create something great,” Sun wrote.
Sun expressed confidence in the sustainability of the current hype. He attributes it to TRON’s competitive advantages, including a deep liquidity pool of over $60 billion and a rapidly growing user base.
With TRON’s extensive liquidity, Sun expects more developers and traders to invest in new and promising meme coins on the platform. The recent changes to fees and energy caps are likely to enhance TRON’s appeal. Dune Analytics shows that nearly 52,000 tokens have been created on TRON’s SunPump platform. That’s a more than 50% increase since August 22.
Even as SunPump rises, traders are being cautious. This is partly due to Justin Sun’s controversial reputation from past interactions with various projects. Some users are understandably worried.
“Chinese crypto chat channels continue to warn about Justin Sun rug pulling them. This isn’t surprising for anyone who has followed HUSD, USDD, TRX, or any other issues associated with him,” one user shared on X.
Experts also question whether SunPump can dethrone Solana’s Pump.fun, given the latter’s established presence in the market. Pump.fun has had many more projects launched on its platform due to its longevity.
“While touted as a competitor to pump.fun, SunPump still falls short of pump.fun’s activity. Since launching on August 9, SunPump has facilitated the launch of over 46,000 tokens. That’s 77% less than pump.fun’s 193,000 launches in the same timeframe,” analysts noted.