SunPump Announces Dogwifhat’s Extension To Tron
In Brief
SunPump unveils the transfer of Dogwifhat from Solana to the Tron Network, marking a milestone in blockchain interoperability.
Platform for launching and trading memecoins, SunPump announced the transfer of the popular memecoin Dogwifhat (WIF) from the Solana (SOL) blockchain to the Tron Network (TRX). This transition utilized the Omnichain Fungible Token (OFT) technology from LayerZero, with deployment assistance from Ambient.
The OFT Standard enables the transfer of fungible tokens across different blockchains without the need for asset wrapping or intermediary chains.
The Tron ecosystem has been recently gaining attention as its memecoins gain traction. As one of the leading Layer 1 networks in the sector, Tron is adopting strategies from competitors like Solana, which has seen success in the memecoin space with projects such as BONK and Dogwifhat.
According to data from DeFiLlama, the TRX decentralized finance (DeFi) ecosystem has a Total Value Locked (TVL) of $8.079 billion, indicating substantial liquidity that is competitive with Solana’s TVL of $5.162 billion. This figure suggests that the Justin Sun-backed network has the capacity to support a sustainable season for memecoins.
Notably, several memecoins have already emerged within the Tron ecosystem and are achieving milestones. One such token, Sundog, is gaining recognition as a key player in the space, showing potential for growth similar to that of Dogwifhat.
Since its launch in August, the token has attracted notable attention on social media platform X as the network’s first popular memecoin. As of the writing time, its market capitalization has reached $319 million and continues to grow, according to data from DeFiLlama.
SunPump To Bolster Fair Memecoin Launches
The world of memecoins is often associated with fraud, as projects sometimes fail shortly after launch. The recently introduced SunPump platform is specifically tailored for fair memecoin launches on Tron. This initiative is Tron’s response to Solana’s PumpFun platform, with both aiming to combat fraud while promoting decentralized participation across their ecosystems.
Presently, Sun Pump’s novelty might be giving it an edge over Solana’s PumpFun in terms of user adoption. As SunPump has already surpassed PumpFun in earnings, its founder, cryptocurrency entrepreneur Justin Sun, anticipates that this new strategy could lead to a revenue peak of $4 billion.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
