SINGAPORE – Media OutReach Newswire – February 26, 2024 – On February 25, SUN.io, the largest DeFi platform in the TRON ecosystem, announced a strategic partnership with HTX DAO. As stated by SUN.io, this alliance is expected to increase its total value locked (TVL) by an additional $100 million, strengthening its ability to leverage blockchain and cryptocurrency technology. This advancement will help provide accessible, secure and flexible decentralized financial services to 8 billion people around the world, fueling TRON’s vision of building a metaverse freeport for Web3.
Justin Sun, founder of TRON and member of the HTX Global Advisory Board, said on social media that this partnership will significantly boost the vitality and growth momentum of SUN and HTX DAO.
It is estimated that through this partnership, HTX DAO will contribute 50% of its quarterly liquidity donations received to the HTX-TRX Liquidity Pool (LP), with a minimum of 80% allocated to SUN.io. Based on the HTX exchange’s projected revenue for 2022 and 2023, this year HTX DAO will add at least $100 million in liquidity to the total value locked on SUN.io, representing more than 20% of the total TVL from SUN.io.
As a thank you to HTX holders, SUN.io is launching various campaigns allowing participants to receive SUN tokens in proportion to their HTX holdings (token value cap subject to actual LP contributions), allowing them to engage in the governance of the SUN platform. During the campaign, HTX users who wish to opt out of the campaign can return the SUN tokens they hold.
Additionally, SUN.io will introduce various initiatives, including fee reductions, listing new trading pairs, and providing free energy, to continuously support HTX DAO and HTX holders.
SUN.io stands out as the first platform on TRON to integrate stablecoin trading, yield farming, and self-governance. It also supports trading in Dominica’s authorized digital currencies. As of February 25, SUN.io’s total TVL reached $453 million, including $429 million in its SUNSwap pools. Earlier, on February 3, SUN.io rolled out the HTX-TRX liquidity pool, which offers an annual percentage yield (APY) of up to 28.78%.
Built on the secure and reliable TRON network and leveraging its global user base of 213 million, SUN.io has become a comprehensive platform for yield farming, staking and stablecoin trading. It provides a diverse range of DeFi services and a decentralized governance mechanism. SUN.io aims to merge the strengths of various trading protocols to create an efficient, profitable and secure decentralized exchange ecosystem. The platform focuses on maximizing investor returns through incentives such as liquidity provider fee rewards, yield farming, and SUN token staking rewards. Additionally, the SUN token’s burning mechanism and the voting rights of its holders contribute to a sustainable ecosystem for the token.
The SUN.io team invites developers of all types to collaborate and build on the TRON blockchain. SUN.io will expand its reach by integrating more high-quality decentralized applications (dApps) and providing them with financial and technical support through means such as IDO, fund investment and project incubation . This expansion is poised to enrich the DeFi landscape, providing accessible and secure decentralized financial services to 8 billion users worldwide.
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The issuer is solely responsible for the content of this announcement.
