Memecoins have been one of the biggest stories of this bull run, with Solana-based tokens leading the charge. Their massive popularity led to the creation of platforms that facilitated the creation of these tokens. Following the success of Solana’s Pump.fun, Justin Sun introduced the first memecoin launcher on the Tron Blockchain.

Justin Sun Introduces Tron-Based Memecoin Launcher

After the memecoin craze, Solana’s launchpad Pump.fun has been in the spotlight since its inception in January 2024. The platform is designed to “prevent carpets” and ensure that all created tokens are safe. It also allows the community to launch tokens for less than $2 without pre-sales and team token allocation.

Its popularity grew earlier this year among influencers and users who wanted to easily create tokens without the high costs or complexity of launching a project. Since then, famous celebrities have used the memecoin launcher to start their crypto journey.

Nevertheless, Pump.fun has been heavily criticized for facilitating pump-and-dump schemes. Recent data shows that the platform’s popularity has declined significantly in recent weeks, with the number of addresses created dropping by over 84%.

Amid the criticism, DeFi protocol SUN.io introduced a Tron-based competitor to rival Pump.fun. Earlier this week, Justin Sun announced the beta version of SunPump, the first memecoin launcher on the Tron Blockchain.

SunPump is a launch platform that “aims to provide all users with the most user-friendly and convenient meme trading experiences within the Tron network.” According to the announcement, the platform will provide creators “a convenient and cost-effective solution for issuing tokens.”

In addition, creators can be part of the “888 TRX” Airdrop Event. The initiative offers an 888 TRX airdrop to all memecoin creators whose Bonding Curve reaches 100%.

Today, the platform announced the launch of a $10 million Meme Ecosystem Boost Incentive Program alongside Tron DAO. The initiative, exclusive to tokens launched by SunPump, “is designed to provide projects with resources and support to reach new heights.”

Sun also reported that transaction fees on the launch pad have been reduced by another 90% today, bringing the price to just 0.352 TRX, which is $0.04576 per transaction.

Finally, the project revealed that 100% of the protocol’s revenues would be used to buy back and burn SUN tokens to “support the sustainable development of the SUN ecosystem.”

SunPump faces backlash

Several community members expressed mixed feelings about the news. Some X users felt that Sun was late to the memecoin party, while others called the project “the end of the memecoin era.”

Many criticized the launchpad’s similarity to its Solana counterpart and Sun’s “lack of originality”. Furthermore, users accused Sun of “just” promoting the platform, suggesting that he was promoting a memecoin launched by Tron because “there aren’t enough people to make money”.

Some community members also suggested that the project only wanted to make profit from fees after seeing Pump.fun’s revenue. As Bitcoinist recently reported, the Solana launch platform surpassed blockchains like Ethereum and Tron in fees generated, with over $5.3 million.

Despite the criticism, two tokens recently launched on SunPump have reportedly surged above the $1 million market cap. According to online reports, two animal-themed memecoins, SUNDOG and SUNCAT, saw a 50,000% and 25,000% surge within hours of their launch.

The dog-themed Tron memecoin reached a market cap of $33 million on Thursday night, making it eligible to be listed on cryptocurrency exchanges Poloniex and HTX. According to CoinGecko data, SUNDOG’s market cap hit $60 million on Friday morning, currently sitting at $57 million.

Tron (TRX) is trading at $0.1313 in the weekly chart. Source: TRXUSDT on TradingView

Main image from Unsplash.com, chart from TradingView.com