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TRON (TRX): First SUN token distribution will be on September 11th

  • SUN tokens will be withdrawable on September 11 and locked TRX token will be withdrawable on September 16.
  • SUN token generated from September 11 to September 16 will be available for daily withdrawal at 12:00 pm Hong Kong time.

Following the obvious success of TRON’s latest DeFi protocol, sun.market, users will be able to reap the benefits earlier than expected. TRON CEO Justin Sun announced this a few days ago and has now revealed the details of an early distribution of the SUN token.

Justin Sun confirmed that the platform has exceeded the 7.2 billion TRX allocation and informed the community that the SUN tokens will therefore be available and withdrawable as of September 11 this year. The distribution will start between 11:00 and 12:00 Hong Kong time. It will be the first distribution of the “mined” SUN token as part of the Genesis mining phase, which will include a total of 19,900,730 SUN.

Additionally, the CEO of TRON informed users that the SUN token generated from September 11 to September 16 will be available for daily withdrawal at 12:00 pm. During this period, users have to wait 24 hours from the mining of the SUN token each day. Furthermore, in a separate publication, the TRON Foundation made a more detailed explanation of the above:

For instance, starting from September 11 2020, 12:00, users may withdraw the SUN tokens generated since the start of Genesis mining till September 10 2020, 12:00; likewise, SUN tokens produced between September 10, 12:00 and September 11, 12:00 can be withdrawn after 12:00 on September 12, 2020, so on and so forth.

After September 16, all SUN tokens generated will be available for withdrawal.

TRON rewards community participation

The TRON Foundation’s publication celebrated the participation of users and their response to the sun.market protocol. The TRON Foundation notes that token holders can receive the SUN token by logging onto the sun.market website and using their TronLink wallet. The amount of SUN tokens miners can receive is determined by how long they’ve staked their TRX and how much TRX they staked.

The TRON Foundation further indicated that the TRX used in the Genesis mining phase may be removed along with the SUN token as of September 16. Users can check the SUN address by clicking on the following link. About the DeFi protocol token, the TRON Foundation explained the following:

SUN token is a social experiment dedicated to the development of TRON’s DeFi ecosystem. Designed as the quintessential Bitcoin equivalent on TRON, SUN features zero VC investments, zero PE investments, no pre-mining or reserve for the team, and is fully operated by the community through its open-source smart contracts.

The DeFi protocol token has started to be listed on some exchanges. At the time of publication, Poloniex and KuCoin announced their support for SUN. The most recent exchange that will add SUN is TronTrade. However, the platform has yet to provide an exact date on the availability of the token on its exchange.

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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