SUN is the first comprehensive platform in the TRON ecosystem that integrates stablecoin exchange, token mining and autonomy. Since Genesis Mining (V1) was officially launched on June 2, 2021, the SUN project has experienced multiple stages of development. Today, governance mining (V2) has entered its second phase, bringing more opportunities and innovations. This article will introduce in detail the mining mechanism, reward distribution and governance structure of SUN tokens.
1. Mining time and reward distribution
In order to ensure that SUN’s overall mining volume, release ratio and speed remain unchanged, the project team has adjusted SUN’s mining plan. The genesis mining lasted for 42 days, from June 2, 2021 to July 14, 2021, Singapore time, while the governance mining was set as a five-year cycle, starting on July 14, 2021.
2. The second stage of governance mining (V2)
The second phase of governance mining provides users with greater space for participation, especially the veSUN (voting rights) obtained by locking SUN will play a more important role.
SUN locking and veSUN acquisition: Users can obtain veSUN by locking SUN. Locking periods range from 26 weeks (6 months) to 4 years, and all locked SUN will expire at the same time. The calculation formula for obtaining veSUN is:
Number of veSUN = Number of locked SUN * (Expiration time - Current time) / 4 years
By holding veSUN, users can enjoy multiple benefits, including:
A snapshot of veSUN is taken every week and 50% of the stablecoin pool handling fee is distributed to users based on their holding ratio.
When mining in the liquidity pool, the mining speed is accelerated up to 2.5 times.
Vote on the mining of liquidity pools to determine the mining weight of each liquidity pool.
3. Liquidity pool LP token mining
The SUN platform currently has 18 liquidity pools online, 13 of which are dual-currency rewards. Users can participate in mining by adding liquidity and obtaining liquidity tokens.
Voting rights and community governance: The weight of liquidity pool mining is determined by user voting. Users can participate in voting with veSUN obtained by locking SUN. A voting snapshot will be taken every Thursday at 08:00 to determine the mining weight of each liquidity pool.
4. Summary
As an important part of the TRON ecosystem, SUN tokens provide users with a wealth of participation opportunities through innovative mining mechanisms and governance structures. With the advancement of governance mining (V2), users can not only gain income through mining, but also participate in the governance of the platform and enjoy more rights and interests. In the future, the SUN platform will continue to develop and strive to create greater value and better experience for users.