SINGAPORE - Media OutReach Newswire - 26 February 2024 - On February 25, SUN.io, the largest DeFi platform in the TRON ecosystem, announced a strategic partnership with HTX DAO. As stated by SUN.io, this alliance is set to increase its total value locked (TVL) by an extra $100 million, enhancing its capacity to leverage blockchain and cryptocurrency technology. This advancement will enable the provision of accessible, secure, and flexible decentralized financial services to 8 billion people worldwide, fueling TRON's vision of building a metaverse free port for Web3.
Justin Sun, founder of TRON and a member of the HTX Global Advisory Board, shared on social media that this partnership will significantly boost the vitality and growth momentum of SUN and HTX DAO.
It is estimated that through this partnership, HTX DAO will contribute 50% of its quarterly liquidity donations received to the HTX-TRX Liquidity Pool (LP), with a minimum of 80% allocated to SUN.io. Based on projected revenues of the HTX exchange for 2022 and 2023, this year, HTX DAO will add at least $100 million in liquidity to the total value locked on SUN.io, representing over 20% of SUN.io's total TVL.
As a token of appreciation to HTX holders, SUN.io is launching various campaigns allowing participants the ability to receive SUN tokens proportionate to their HTX holdings (token value cap subject to actual LP contributions), enabling them to engage with the SUN platform governance. During the campaign, HTX users who wish to opt out of the campaign can return the SUN tokens they hold.
Additionally, SUN.io will introduce a variety of initiatives, including fee reductions, listing of new trading pairs, and supplying free Energy, to continuously support HTX DAO and HTX holders.
SUN.io stands out as the first platform on TRON to integrate stablecoin swap, yield farming, and self-governance. It also supports the trading of authorized digital currencies of Dominica. As of February 25, SUN.io's total TVL reached $453 million, with $429 million in its SUNSwap pools. Earlier, on February 3, SUN.io rolled out the HTX-TRX Liquidity Pool, which boasts an annual percentage yield (APY) of up to 28.78%.
Built on the secure and reliable TRON network and leveraging its global user base of 213 million, SUN.io has evolved into a comprehensive platform for yield farming, staking, and stablecoin swap. It provides a diverse range of DeFi services and a decentralized governance mechanism. SUN.io aims to merge the strengths of various trading protocols to create a decentralized exchange ecosystem that is efficient, cost-effective, and secure. The platform focuses on maximizing investors' returns through incentives such as liquidity provider fee rewards, yield farming, and staking rewards in SUN tokens. Additionally, the SUN token's burning mechanism and the voting rights of its holders contribute to a sustainable ecosystem for the token.
The SUN.io team invites developers of all kinds to collaborate and build on the TRON blockchain. SUN.io will expand its reach by integrating more high-quality decentralized applications (dApps) and providing financial and technical support to them through means such as IDO, fund investment, and project incubation. This expansion is poised to enrich the DeFi landscape, offering accessible and secure decentralized financial services to 8 billion users worldwide.
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The issuer is solely responsible for the content of this announcement.