Justin Sun, the relentless marketer and CEO of Tron, has decided to get into the DeFi Meme Coin hype and is therefore launching his own $SUN coin shortly. As from 2 September, mining for his new coin $SUN will start.
The official launch of the cryptocoin itself will then follow on September 16. Justin hopes that it will be possible to name that day SUNday. The value of $SUN will be seen in a SUN finance DeFi smart contract and should run on the TRON blockchain.
Justin is eager to get in on the yield farming hype with this new DeFi coin and knowing him, he will certainly create a lot of buzz around it. More details are set to be announced soon.
Meanwhile his former friend over at Ethereum, Vitalik Buterin, has once again expressed his skepticism for the yield farming craze that has swept the world of DeFi, stating on Twitter that:
The sheer volume of coins that needs to be printed nonstop to pay liquidity providers in these 50-100%/year yield farming regimes makes major national central banks look like they’re all run by Ron Paul.
Not sure whether Vitalik’s reference to the retired US politician with some crazy economic proposals will be understood by all though. Ethereum meanwhile doesn’t seem to mind, with the coin climbing 7% to $456.
Justin’s own original coin, $Tron, is also on a run as today upon hearing the news as the TRX price climbs 14% to $0,030141.
Tron was in dire need of some good news, as just last week Binance moved a massive 1 billion USDT (Tether) from the Tron blockchain to Ethereum.
Justin Sun’s coins aren’t always considered the best in the crypto market, but this young CEO knows very well how to promote both himself and his products. So expect quite a few social media posts about $ SUN the following week.