Justin Solar Proclaims Main SUN Token Burn Progress

• SUN token burn reaches $8M milestone with $4M pending, boosting market confidence.
• SUN tokens embrace transparency with a 100% on-chain buyback and burn course of.
• Solar opts for a less complicated burn technique over LP tokens to keep away from group confusion.

Justin Solar introduced on X that the continued SUN token burn has hit a big milestone. The entire burn quantity now totals $8 million, with a further $4 million but to be accomplished. This replace demonstrates the continued effort to scale back the full provide of SUN tokens, with the purpose of strengthening the token’s market place.

The SUN token burn has seen constant and substantial exercise in current days. A complete of 279 million SUN tokens have already been burned, equal to roughly $8 million. The newest burning data present that on September 4, 2024, at 08:26 SGT, round 3 million SUN tokens have been burned. Different burns on the identical day included a complete of over 3 million SUN tokens, reflecting a continued dedication to lowering the general token provide. 

Furthermore, roughly 9 million SUN tokens, estimated to be value round $269,000, are slated to be burned quickly. The continuing course of highlights the group’s determination to make use of a clear and verifiable token burn technique.

This strategy has been chosen over the extra advanced Liquidity Pool (LP) token burning technique, generally utilized by different tokens like Shiba Inu (SHIB). In line with Solar, whereas LP token burning may improve liquidity and appeal to bigger buyers, its complexity typically causes confusion amongst group members.

Moreover, Coin Version lately famous that SunPump, a meme coin platform on the Tron community, has applied a 100% on-chain buyback and burn course of for its SUN token, efficient September third. This transition to a totally on-chain course of is designed to reinforce transparency, guaranteeing that each one burn data are verifiable on the blockchain.

Solar additional defined that including liquidity by way of LP tokens may enhance market depth and appeal to bigger buyers, often known as ‘whales,’ who favor tokens with excessive liquidity to keep away from slippage and volatility.