Justin Sun Proposes Burning SUN PUMP Revenue
CryptoNewsTerminal Staff02 Sep, 2024
Justin Sun Proposes Burning SUN PUMP Revenue
TRON founder Justin Sun has announced his intention to propose a governance mechanism through which the revenue generated by the TRON (TRX)-based meme-coin platform SUN PUMP will be burned. This proposal would involve sending the revenue from SUN PUMP to a black hole address, effectively removing it from circulation. Sun's proposal aims to reduce the overall supply of SUN PUMP tokens, potentially increasing their value in the long run. The burning mechanism would also likely make SUN PUMP more scarce, increasing its attractiveness to investors and traders. The proposal will be put to a vote by the TRON community, and if approved, will be implemented on the TRON blockchain.
