SUN.io, a prominent DeFi platform on the TRON (CRYPTO:TRX) blockchain, has introduced SUN DAO.
This strategic move aims to boost decentralised governance and community autonomy while expanding the real-world use cases of the SUN (CRYPTO:SUN) token.
SUN DAO will facilitate the development and long-term governance of the SUN.io protocol.
It relies on protocol functions and the SUN token for security, with governance conducted through on-chain proposals.
The SUN token will integrate and digitise various forms of capital, encouraging active governance participation.
With SUN DAO, SUN.io will shift to a fully decentralised governance model, empowering community members in voting and decision-making processes.
Experts believe SUN DAO will set new standards in transparency, fairness, and innovation within the DeFi ecosystem.
SUN DAO employs innovative incentive mechanisms and a tiered governance structure to ensure long-term success for SUN.io.
Under this system, SUN holders can manage the protocol and vote on proposals by converting their tokens into veSUN.
Proposals need a minimum number of yes votes to be executed, ensuring efficient governance without third-party involvement.
The SUN token is crucial to this process, enhancing efficiency by integrating monetary and human capital.
Economic incentives based on trust among SUN token holders, the market, liquidity providers, and integrators aim to sustain active participation and expand the ecosystem.
The official launch of SUN DAO will significantly expand the use cases of its vote escrow mechanism, veSUN, encouraging greater participation and innovation.
Users can lock SUN tokens to receive veSUN, granting them a voice in platform governance.
veSUN holders can submit and vote on governance proposals, enjoying benefits such as liquidity mining boosts, votes to determine liquidity pool weights, and 50% of transaction fees in stablecoin pools.
SUN DAO’s decentralised governance framework, supported by an incentivised system, motivates community members to propose innovative ideas and solutions.
This approach unites community efforts to drive product iteration and fosters a sense of belonging and responsibility among members.
As a crucial component of the TRON ecosystem, SUN.io’s DAO model is set to attract a broader community of users and developers.
SUN.io offers a comprehensive suite of DeFi services, including stablecoin swaps, liquidity mining, and the conversion of Dominica’s authorised digital currency while enabling self-governance.
As of July 2024, SUN.io has a total value locked (TVL) of $431 million.
The establishment of SUN DAO will further solidify its leading role in the DeFi ecosystem by extending premium decentralised financial services globally, fostering sustained innovation and growth in the industry.
SUN DAO aims to achieve genuine community autonomy and open collaboration through blockchain technology and smart contracts, providing a fair, transparent, and efficient decision-making framework for community members to participate equally in project development and governance.