Justin Sun Launches PumpFun Rival SunPump

The Tron ecosystem is looking to get in on the rampant memecoin action ignited by PumpFun with the launch of its own meme token launchpad, SunPump.

On Aug. 13, Sun.io, a DeFi platform linked to Justin Sun, the founder of Tron, launched SunPump. Like PumpFun, SunPump allows users to create their own memecoins in just a few clicks and without requiring any coding. SunPump claims to be the first memecoin launchpad on Tron. PumpFun recently raked in a record of $5.3 million in daily fees.

According to its documentation, SunPump requires a creation fee of approximately 20 TRX ($2.60 at current prices) and imposes a 1% trading fee. When a project hits 100% of the bonding curve for $69,420, the smart contract will automatically deposit around 100,000 TRX and the remaining 200 million tokens into the SunSwap V2 liquidity pool. To cover the fee to add liquidity, the contract will deduct about 3,000 TRX from the bonding curve.

First Memecoin Launches

Memecoin creators are already flocking to the platform.

Sundog (SUNDOG) soared to a $53.4 million market cap just eight hours after launching, according to CoinGecko. Suncat (SUNCAT) gre to a $2.2 million market cap since launching earlier today.

Sun tweeted that SunPump has started upgrading its server capacity tenfold to manage maximum traffic efficiently.

Meanwhile, Tron and SunPump are launching a $10 million meme-focused incentive program for tokens launched on the platform.

“Users buy tokens using SunPump’s Bonding Curve mechanism, which offers them a user-friendly purchasing process and easy entry into the meme coin market,” the announcement read. “SunPump also offers flexible trading options for users to sell their tokens at any time, whether to lock in profits or cut losses.”

A bonding curve is a pricing mechanism where the token price increases with each purchase based on a predefined formula, aiming to ensure continuous liquidity.

Pump.fun also uses this model, however, it hasn’t prevented sudden rug pulls on the platform. Malicious actors sometimes create tokens, buy a large portion of the supply, and then sell off their holdings once the price is pumped by other users.

The price of TRX, Tron’s native cryptocurrency, is up 0.1% in the past 24 hours to last change hands for $0.13, according to The Defiant’s crypto price feeds.

On Aug. 5, the Tron network recorded 8 million daily transactions to post a new year-to-date high, according to data from TokenTerminal.