DeFi
SUN.io Launches SUN DAO to Improve Decentralized Governance and Drive Ecosystem Innovation
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Singapore, July 30, 2024, 12:00 p.m. – SUN.io, a leading DeFi platform built on the TRON blockchain, is excited to announce the launch of SUN DAO. This strategic initiative aims to enhance SUN.io’s decentralized governance and community autonomy. By expanding the real-world use cases of the SUN token, SUN DAO will support the long-term development and governance of the SUN.io protocol.
At its core, SUN DAO relies on its protocol functions and the SUN token for security. These functions, which include community engagement, incentives, self-regulation, and policy management, are governed by on-chain proposals. The SUN token will be an integral part of this governance process, integrating and digitizing various forms of capital, such as monetary and human resources, and encouraging active participation of community members in governance and proposals.
With the introduction of SUN DAO, SUN.io will transition to a fully decentralized governance model, allowing community members to actively participate in the platform’s voting and decision-making processes. Industry experts believe that SUN DAO will redefine decentralized governance, setting new benchmarks in the DeFi ecosystem for transparency, fairness, and innovation.
Explore new horizons in decentralized governance with SUN DAO
SUN DAO leverages innovative incentive mechanisms and a multi-tiered governance structure to establish a future-proof governance model, ensuring the long-term success of the SUN.io protocol. This approach is designed to foster continued growth and improvement, keeping the platform relevant and effective for decades to come.
In the current system, SUN holders can collectively govern the protocol and vote on proposals by converting their tokens into veSUN. Community members with a specified amount of veSUN can submit proposals. For a proposal to be executed, it must receive a minimum number of positive votes and have more positive votes than negative votes.
This mechanism ensures effective governance without third-party intervention, allowing the protocol to operate, manage, and grow autonomously according to predefined rules, thereby maximizing efficiency. The SUN token plays a crucial role in this process, digitizing and tokenizing all organizational elements, integrating both monetary and human capital, and significantly improving overall efficiency. According to the SUN.io team, the SUN token economy is designed to foster the healthy development and growth of the SUN.io ecosystem in the long term, ultimately benefiting all stakeholders under a robust protocol.
SUN.io has introduced trust-based economic incentives established by SUN DAO, including mutual trust between SUN token holders, the market, liquidity providers, and integrators. These liquidity-based governance approaches aim to maintain active participation in the voting process and expand pools as the ecosystem grows and attracts more participants.
Driving innovation on SUN.io to unlock diverse veSUN use cases
The official launch of SUN DAO will significantly expand the use cases of its voting deposit mechanism, veSUN, encouraging greater participation from community users and further driving innovation and development across the SUN.io ecosystem.
Users can lock up SUN tokens to receive veSUN, the voting certificate that gives them a say in the platform’s governance. Those who hold a certain amount of veSUN can submit governance proposals to support new markets, add features to the protocol, and more. Other veSUN holders can vote on the proposals while also enjoying benefits such as liquidity mining boosts, votes to determine the weight of liquidity pools, and 50% of transaction fees in stablecoin pools.
Industry experts believe that adopting autonomous governance will revitalize the SUN.io ecosystem. By decentralizing community governance, users have greater flexibility in resource allocation and can provide valuable feedback for development and improvement. This approach unifies community efforts to drive product iteration and fosters a stronger sense of ownership and accountability among members.
By introducing a multi-tiered decentralized governance framework powered by an incentive system, SUN DAO incentivizes community members to propose innovative ideas and solutions, ensuring active participation in the voting process. By attracting new users and investments, SUN DAO fosters growth and innovation within the platform and the broader DeFi sector.
As a crucial component of the TRON ecosystem, SUN.io’s implementation of the DAO model is intended to attract a broader community of users and developers, helping TRON maintain a healthy and self-reinforcing DeFi ecosystem.
SUN.io, the pioneering integrated platform of the TRON network, offers a full suite of decentralized financial services including stablecoin exchanges, liquidity mining, and conversion of Dominica’s permissioned digital currency while enabling self-governance. As of July 2024, SUN.io has accumulated a total value locked (TVL) of $431 million. The creation of SUN DAO will further cement its leadership role in the DeFi ecosystem by expanding premium decentralized financial services globally, fostering sustainable innovation and growth in the sector.
About SUN DAO
SUN DAO is a platform that aims to achieve true community autonomy and open collaboration through blockchain technology and smart contracts. As a Decentralized Autonomous Organization (DAO), we provide a fair, transparent, and efficient decision-making framework for community members, allowing everyone to participate equally in the development and governance of the project.
About SUN.io
SUN.io is the first decentralized autonomous platform on the TRON network that integrates a stablecoin and a full token exchange while supporting liquidity mining. Its goal is to provide optimal trading liquidity and asset yields for the TRON ecosystem. Users can stake SUN to obtain veSUN, allowing them to enjoy multiple benefits of the platform.
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