Dear community members,
To accommodate the requirements of the SUN project and infrastructure upgrade, starting from May 26, 2021 (SGT), SUN will implement a token redenomination and platform upgrade plan.
While maintaining its current market cap, the old SUN tokens will be redenominated and swapped with the new SUN tokens at a ratio of 1:1000. After the redenomination, SUN.io will undergo a significant upgrade and introduce a new service - decentralized stablecoin swap. The SUN platform will be upgraded into TRON's first one-stop platform that supports stablecoin swap, token mining and self-governance. After the redenomination, the new SUN token, as a multifunctional governance token on the SUN platform (similar to the CRV token of Curve DAO and the EPS token of Ellipsis), will grant token holders various rights and benefits such as the voting and governance right in the community, value capture, staking rewards, etc..
I.SUN Token Redenomination Plan
The SUN redenomination plan aims to lower the entry barrier of holding SUN tokens and facilitate the growth of the SUN ecosystem. The total supply of SUN tokens will be increased from 19,900,730 to 19,900,730,000 at a ratio of 1:1000, while the market cap of SUN remains unchanged. The volume of holding tokens in all addresses will be scaled in the same ratio accordingly. Details are as follows:
- After the upgrade, to differentiate between new and old SUN tokens, old SUN tokens will be renamed as SUNOLD (hereinafter old SUN tokens will be referred to as SUNOLD); the new SUN tokens will assume the SUN ticker with a brand-new logo;
- The SUNOLD contract address is TKkeiboTkxXKJpbmVFbv4a8ov5rAfRDMf9; upgraded SUN contract address is TSSMHYeV2uE9qYH95DqyoCuNCzEL1NvU3S;
- SUNOLD swap channel will be opened on May 26, 2021 (SGT). You can swap for the new SUN by depositing your tokens on exchanges or by yourself on-chain. For details, please refer to "SUN Token Swap" below.
II. SUN Platform Upgrade Plan
SUN.io will be upgraded into TRON's first one-stop platform that supports stablecoin swap, token mining and self-governance.
In the initial phase, the SUN platform will first launch 3pool swap pool to enable the swap between USDT, USDJ and TUSD. The platform also has many other edges like lower handling fees, low transaction slippage, and low impermanent loss while offering greater swap efficiency and security. Going forward, the SUN platform will shortly launch plans such as token mining and platform self-governing so as to offer more rights and benefits to the community. As a governance token for the platform, the new SUN token grants community users various rights and benefits, including platform governance, value capture and staking rewards, etc.
- May 27, 2021 (SGT): enable stablecoin swap service;
- June 2, 2021 (SGT): initiate new mining models of 3pool LP, SUN-TRX LP, SUN Stake and SUN Stake&Lock;
- June 2, 2021 (SGT): start the airdrop to veCRV holders;
- The community governance plan will be launched in the future, and the specific time will be notified separately.
III. SUN Token Swap
There are two ways to swap your SUNOLD for SUN depending on where you hold SUN tokens.
1. SUN token swap on exchanges
If your SUN is held on centralized exchanges, please closely follow their announcements on whether they support SUNOLD-SUN redenomination as well as deposit, withdrawal, and trading of the new SUN. You may check the latest announcements from exchanges for this information.
- Users who hold SUNOLD on any exchange that supports the SUNOLD-SUN redenomination do not need any action as the exchange will autoswap for you. You will be able to trade, deposit and withdraw SUN directly after the exchange completes SUN redenomination. For more information, please refer to the exchange's announcement on SUN redenomination.(To help users swap their new SUN smoothly, who will then be able to enjoy rights and benefits like mining rewards and governance on the new SUN platform, exchanges are advised to support the SUN redenomination plan as soon as possible. For any questions, please contact us via the SUN partnership email for details.)
- You may withdraw SUNOLD to any decentralized wallet (like TronLink Chrome) and complete SUN token swap on JustSwap's "SUN Swap" page if the exchange hasn't yet supported the SUN redenomination plan.
2. SUN token swap via the "SUN Swap" page on JustSwap
If your SUN token is stored in a decentralized wallet (e.g. TronLink Chrome wallet)), please follow the "Step-by-Step Guide" below to swap your SUN token. This service will be enabled on May 26, 2021 (SGT), at which time users will be able to swap their SUNOLD tokens in their wallets for the new SUN tokens.
1) Visit JustSwap official website and click on "SUN Swap" on the left navigation panel.
2) Enter the amount of SUNOLD you would like to swap in the "Amount to swap" field and click on the "Confirm Swap" button (please make sure you have installed and connected your TronLink Chrome wallet).
3) Sign and approve the action in your TronLink Chrome wallet.
4) Your swap request has been submitted. The swap will be successful once the transaction is confirmed on-chain.
5) After your swap has been completed, you can add the new SUN to your asset list by clicking on the "+" icon in your TronLink wallet. (If there is no prompt coming up, then you can add the asset by searching the SUN contract address on the TronLink "Assets" page: TSSMSHYeV2uE9qYH95DqyoCuNCzEL1NvU3S)
1. At this moment, SUNOLD can only be swapped for SUN through the "SUN Swap" feature on JustSwap official website (users need to connect to their TronLink Wallet and swap manually) and certain exchanges that support SUNOLD-SUN redenomination (no user action required). Please do not use other channels for the swap to prevent financial losses;
2. After the redenomination, SUN (the old token) will assume the SUNOLD ticker, and the new token will be named SUN. The two tokens will assume different logos. Please distinguish the old token from the new one according to their names, logos and contract addresses to prevent financial losses;
3. After the denomination, the new SUN token will grant holders various rights and benefits such as governance right of the upgraded SUN platform, value capture and staking rewards, while the old token SUNOLD will only be used as mining rewards for previous mining pools in "Century Mining"("Century Mining" event is expected to end at 20:59 on June 7, 2021, click to view details). Please stay alert of any frauds;
4. The "SUN Swap" feature on JustSwap only supports swap from SUNOLD to SUN, and not the other way round;
5. When depositing SUN tokens in an exchange, please make sure that the symbol and name of the SUN token supported by the exchange match the one you are depositing. If there's a mismatch, please do not proceed with your deposit. If you deposit an asset that is not supported by the exchange by accident, please contact the customer service of the exchange as soon as possible.
Thank you for supporting SUN!
May 26, 2021