SUN Genesis mining is officially drawing to an end at 21:00, September 16, 2020 (HKT). Following the Genesis mining, SUN token official mining will kick off at 23:00, September 16, 2020 (HKT), where we will team up with Justswap.org to launch a 14-day liquidity mining for SUN/TRX LP, JST/TRX LP and USDT/TRX LP.
Breakdown of Liquidity Pool:
Please follow our upcoming announcements for information on new mining pools and schedules for mining.
What happens following the announcement:
1. SUN harvest shrinks upon official mining: as official mining starts, fewer SUN will be mined. This time, daily SUN output across mining pools will drop by 10% from Genesis mining (down from 132000 to 117000 per day), which is expected to have a positive effect on SUN token.
2. On SUN LP mining: the launch of SUN/TRX, JST/TRX and USDT/TRX LP mining will push higher the demand for SUN/JST/TRX, which will help boost the three markets. Among the three, SUN will benefit most because of its currently small circulation and the fact that most SUN are mined from the SUN/TRX LP pool.
3. On TRX staking: as SUN currently trades at $20 with a 100% APR, LP mining pools are expected to lock up over $864 million, 3.6 times higher than the total amount of TRX staked so far during Genesis mining (8,711,688,582.305 TRX). This indicates a bullish TRX market after Genesis mining ends on September 16, as instead of a big sell-off, more lock-up funds are expected to come.
About LP Liquidity Mining:
Liquidity mining refers to the process where users deposit or lend designated token assets as per the requirement in a mining-featured DeFi product to provide liquidity to the fund pool in order to earn revenue. The revenue earned may be in the form of the project’s in-house token or the right of governance it represents.
In a narrow sense, liquidity mining injects liquidity into various projects; more broadly from the decentralization perspective, it effectively connects the isolated islands of value, facilitates value exchange and ultimately fuels value discovery. In liquidity mining, miners are serving both as an LP (liquidity provider) and an Oracle.
Tutorial on LP mining: https://justswap.zendesk.com/hc/zh-cn/articles/360047260732-%E5%A6%82%E4%BD%95%E5%A2%9E%E5%8A%A0%E6%B5%81%E5%8A%A8%E6%80%A7-
Website: Sun.io
SUN Foundation
2020/9/13
