The lovers and decentralized finance (DeFi) participants on TRON blockchain may no longer have to wait until Wednesday to receive the Sun token, following a recent update made by Justin Sun, the CEO of TRON. The Sun protocol was recently launched on TRON’s blockchain to also enable yield farming for DeFi traders on the blockchain. For a long time, TRON has been rivalling the success of Ethereum.
DeFi traders on TRON can expect Sun token sooner
In a recent tweet, Justin Sun disclosed that the waiting period for Sun token distribution has been shortened. Although the new date for the token distribution was not revealed at the time, he did mention that the community members will receive the token earlier than planned. Precisely, the update reads:
“We will distribute $SUN to the community earlier than planned…When $SUN? When Moon? to be announced soon!”
Perhaps, the TRON community was thrilled with the announcement from Justin Sun, as they have been waiting for the initial mining reward of the Sun token. Initially, the token distribution was scheduled to hold on September 16. The reason behind the CEO’s announcement remains unknown, however, one can always predict that it is in the best interest for the DeFi token and TRON’s DeFi sector.
TRON community locks up TRX
The TRON community is optimistic about the Sun DeFi protocol which was announced on August 31. As earlier mentioned, the project intends to enable yield farming on the TRON blockchain, as traders lock up their TRX token to receive a high interest on their capital through the Sun token. As a result, the project has been gaining traction despite the fact that the DeFi token is yet to be distributed.
For context, there were only 6.7 billion TRX staked on sun.market for the mining of the token as of September 7, however, the number has increased by up to 600 million in just three days. Currently, the platform shows that 7.3 billion of TRX tokens have been staked so far.
Meanwhile, only 1,860,602 SUN will be minted in this initial mining phase known as Genesis Mining. The token’s total supply is meant to cap at a total supply of 19,900,730.