What is SunPump And How to Create Memecoin?
The TRON network has launched its own memecoin creation platform similar to the notorious Pump.fun. Justin Sun's new endeavor is called SunPump. How to create memecoin on the TRON network using SunPump?
What is SunPump?
SunPump is an analog of the popular platform for launching memecoins on Solana, Pump.fun. Only unlike its Solana counterpart, SunPump runs on the Tron network. And it already shows signs of being called a worthy and favorable platform for launching memecoins.
Except that Pump.fun has not only become a wildly popular platform, but has also earned a reputation as a place for fraudulent schemes with memecoins. Meanwhile, SunPump from the very start described itself as the first specialized platform for honest launching and trading of memecoins.
Otherwise, SunPump is not different from Pump.fun. The same simplified operational mechanism for launching tokens, the same bonding curve pricing model and the same trading mechanism. Simply put, same functioning principle, only the name and network are different.
And yet, people appreciated Justin Sun's new endeavor. Within 12 days of its launch, 18,000 memecoins were created, the platform generated $1 million, transactions in the TRON network grew by 124%, which allowed TRX to overtake Cardano and enter the top ten coins by market capitalization.
How to create your memecoin on SunPump?
Step 1: Connect Wallet
Go to https://sunpump.meme/home and click Connect Wallet in the top right corner. Follow the prompts and make sure you have enough funds in your wallet to pay the memecoin creation fee.
Source and Copyright © SunPump
Step 2: Create a memecoin
At https://sunpump.meme/home, click on Launch. Fill in the blank spaces: name, ticker, and description. Don't forget to add a picture of your memecoin. Optionally, you can add the website, Telegram and X links of your project. It's better not to exclude these fields, as social networks will help you promote your project better. On the same page, enter the number of tokens you need and then confirm the transaction.
Source and Copyright © SunPump
Step 3: Promote your project
Over 18,000 memecoins have already been created in the 12 days of the platform's existence. In order not to get lost among all this variety, think in advance how you will promote your project to make it successful.
Source and Copyright © SunPump
Fees for creating memecoin on SunPump
To create a memecoin on SunPump, you need to pay a one-time fee of 20 TRX. For trading other memecoins on SunPump, the platform charges a 1% fee.
It's not enough to create a memecoin on SunPump. You also need to make sure that your memecoin reaches 100% of the binding curve so that the liquidity of the token hits DEX on Tron. Once your token reaches this mark, the platform will automatically add about 100,000 TRX and the remaining 200 million tokens to the SunSwap V2 liquidity pool. SunPump adds liquidity to Sunswap, as indicated on the platform. However, SunPump already has partnerships with Poloniex and HTX exchanges. So some memecoins will appear there as well.
DYOR: what is important to pay attention to?
The frenzied popularity of Pump.fun has led to the emergence of many similar platforms on different networks for instant and easy memecoin generation. SunPump was created as a competitor to Pump.fun. Even though Justin Sun claims in the transparency and security of his platform, risks still remain.
Memecoins are inherently even more volatile than other cryptocurrencies. One hour they can skyrocket and fetch Xs, and the next they can rapidly lose value. In addition, the risk of fraud can await users at any stage of a memecoin project's existence. Considering how many memecoins enter the market on a daily basis, it is impossible to keep track of each one of them. So keep in mind the importance of DYOR. And if you are a memecoin creator, stay honest with your community.
