SUN is now TRON’s first one-stop platform that incorporates stablecoin swap, token mining, and self-governance. The mining project consists of two phases, Genesis Mining and Governance Mining. Following the conclusion of Genesis Mining (V1), Governance Mining (V2) has started. SUN will launch the second phase of Governance Mining (V2) on September 15, 2021 (SGT).
I. Mining Duration and Reward Distribution
To ensure consistent SUN mining supply, output, and rate, we have adjusted the mining durations for different phases of the SUN mining scheme accordingly:
- Genesis Mining: 42 days, from June 2, 2021 to July 14, 2021 (SGT).
- Governance Mining: 5 years, starting from July 14, 2021 (i.e. after Genesis Mining concludes) (SGT). (The mining duration for the first month has been shortened from 30 days to 18 days, with the mining rate left unchanged.)
Phase 1 started on July 14, 2021, and will conclude on September 15, 2021 (SGT);
Phase 2 will start on September 15, 2021, and conclude on June 6, 2026 (SGT).
Details on mining rates are as follows:
Mining phase Duration Proportion for mining (%) Amount of SUN rewards (SUN)
Genesis Mining (V1) 1 month 3.00% 597,021,900
12 days 1.20% 238,808,760
Governance Mining (V2) Phase 1 1st month (18 days) 1.80% 358,213,140
2nd month 2.00% 398,014,600
First 15 days in the 3rd month 0.50% 99,503,650
Phase 2 Last 15 days in the 3rd month 0.50% 99,503,650
4th-12th month (monthly) 0.50% 99,503,650
2nd year 5.20% 1,034,837,960
3rd year 2.60% 517,418,980
4th year 1.30% 258,709,490
5th year 0.65% 129,354,745
II Governance Mining (V2) Phase 2
The SUN platform has already entered the second phase of Governance Mining, where the role veSUN (namely the voting rights users obtain after locking their SUN) plays on the platform is extended. Details are as follows:
1. SUN locking
By locking SUN, users can get veSUN (which is consistent with the veSUN in Phase 1).
Rules of locking SUN and obtaining veSUN are as follows:
- Locking period: The period for locking SUN in V2 lasts from 26 weeks (6 months) to 4 years (365 days*4). All locked SUN will be unlocked at the same time, and the maximum locking period is 4 years. The user can choose a time between “26 weeks (6 months) to 4 years from the day when his/her last lock expires” for his/her latest lock. Once a time is chosen, all locked SUN will be unlocked at this time. All locks will expire at the same time.
- veSUN calculation : Quantity of veSUN = Quantity of locked SUN * (Expiry date - Current date)/4 years. Users who lock SUN for 4 years (365 days * 4) can receive the same amount of veSUN as the SUN locked.
Users are entitled to multiple benefits when they hold veSUN .
Specific benefits are as follows:
- Earn TUSD rewards
A snapshot of users’ veSUN balance will be taken each week, upon which 50% of fees from stablecoin pools in the week will be rewarded to users in proportion to their veSUN holdings;
- Accelerate liquidity pool mining
Users who hold veSUN can raise their mining speed in liquidity pools to as high as 2.5x. Users can calculate their boost using the calculator on the webpage;
- Vote to decide the weights of liquidity pools
Users can vote for the mining in liquidity pools with veSUN. The voting snapshot at 08:00 every Thursday (SGT) determines the mining weight of each liquidity pool from 08:00 of the day to 08:00 next Thursday (SGT).
Meanwhile, users can also lock SUN for SUN rewards, which come from the penalties for early exits from vesting in Phase 1. The conclusion of Phase 1 will lead to a drop in SUN rewards, and users can check and claim their rewards in the SUN staking pool of Governance Mining Phase 1.
2. LP token mining in liquidity pools
As of now, we have launched 18 liquidity pools, of which 13 offer dual token rewards. Details are as follows:
| Pool | Type | Reward Token 1 | Daily Rewards Distributed in Token 1 | Reward Token 2 | Daily Rewards Distributed in Token 2 |
|---|---|---|---|---|---|
| Old 3pool | SUN.io | SUN | Based on the liquidity pool’s weight | - | - |
| USDC | - | - | |||
| SUN-TRX | SunSwap V1 | - | - | ||
| USDT-TRX | WTRX | 509,234 | |||
| USDJ-TRX | WTRX | 169,744 | |||
| TUSD-TRX | WTRX | 169,744 | |||
| USDC-TRX | WTRX | 169,744 | |||
| WBTT-TRX | WBTT | 4,354,389 | |||
| BTT-TRX | BTT | 4,354,389,224 | |||
| NFT-TRX | NFT | 7,496,002,132 | |||
| WIN-TRX | WIN | 16,338,445 | |||
| JST-TRX | JST | 244,905 | |||
| SUN-USDT V2 | SunSwap V2 | - | - | ||
| BTT-USDT V2 | - | - | |||
| USDT-TRX V2 | WTRX | 339,489 | |||
| NFT-USDT V2 | NFT | 7,496,002,132 | |||
| WIN-USDT V2 | WIN | 16,338,445 | |||
| JST-USDT V2 | JST | 244,905 |
You may log into SUN.io with wallets supporting TRON (e.g. TronLink, TokenPocket, imToken, or BitKeep) to participate in mining.
To participate in Old 3pool and USDC liquidity mining, you need to select Old 3pool or USDC pool on SUN.io, provide liquidity to earn respective LP tokens, and then stake these tokens to mine rewards. To participate in other liquidity mining, you need to first add liquidity on SunSwap.com for LP tokens, and then stake these tokens on SUN.io to mine rewards.
- Users can choose a corresponding pool to stake LP tokens from the liquidity pools of Governance Mining (V2) Phase 2. The pool’s mining rewards can be boosted when users hold a certain amount of veSUN;
- Users can claim their SUN and project token rewards earned from staking LP tokens directly to their wallets;
- The weight of each liquidity pool is decided by the proportion of veSUN in this pool to total veSUN voted in all pools. Please refer to the following “Voting Rights and Community Governance” to find out how to obtain voting rights and participate in governance.
3. Voting rights and community governance
Weights of liquidity pools are determined by voting. Users can obtain voting rights veSUN by locking their SUN. The voting snapshot at 08:00 every Thursday (SGT) determines the mining weight of each liquidity pool from 08:00 of the day to 08:00 next Thursday (SGT).
- Voting right calculation: Quantity of veSUN = Quantity of locked SUN * (Expiry date - Current date)/4 years. Users who lock SUN for 4 years (365 days * 4) can receive the same amount veSUN as the SUN locked;
- Votes are cast on a percentage basis: the number of votes is calculated in real time based on the percentage to be cast and the locked volume and unlock time at the time of voting. While votes are not able to be withdrawn once cast, the percentage can be changed;
- Previous votes will not be affected by newly locked SUN and time of new locking actions. Therefore, the absolute quantity and unlock time of votes for each mining pool will remain unchanged unless the percentage is reallocated. The contract will only ensure that the sum of percentages for all pools does not exceed 100%, rather than verify the quantity of veSUN for each pool.
- The weight of each liquidity pool comes to effect simultaneously at Phase 1 and 2.
Ⅲ Governance Mining (V2) Phase 1
Governance Mining Phase 1 has now ended.
Detailed mining rules are as follows:
1. LP token mining in liquidity pools
Three LP pools, namely Old 3pool LP pool, USDC LP pool, and SUN-TRX LP pool, are launched in Governance Mining Phase 1.
- You can choose a pool to stake LP tokens from the liquidity pools offered in Governance Mining (V2) Phase 1. Your SUN rewards earned from staking LP tokens will need to be “vested” first before they are credited to your wallet. Vests in the same cycle will expire at the same time;
- An early exit will result in a 50% penalty, which will be distributed to users who stake and lock SUN;
- If your vested SUN rewards are not immediately withdrawn, then they will count towards SUN mining for TUSD vesting rewards;
- The weight of each liquidity pool will be decided by the proportion of users’ votes. Please refer to the following description of “Voting Rights and Community Governance” to find out how to claim voting rights and participate in governance.
2. SUN stake-mining
SUN staking pool (V2) is an integrated mining pool that allows users to claim the SUN tokens they have vested while earning TUSD rewards (which come from 50% of the platform’s trading fees) and penalty fees in SUN by staking and locking SUN. Currently, the platform supports Stake SUN Pool (no locking period) and Lock SUN Pool (SUN needs to be locked for a specified period). Details are as follows:
2-1. Stake SUN
- Supply: SUN (can be withdrawn at any time);
- Rewards: TUSD (can be claimed at any time). TUSD rewards come from 50% of the platform’s stablecoin swap fee.
2-2 Lock SUN
- Supply: SUN (cannot be withdrawn in advance);
- Rewards: TUSD and SUN (can be claimed at any time). TUSD rewards come from 50% of the platform’s stablecoin swap fee, and SUN rewards come from the penalty incurred on users’ early withdrawal of their vested tokens;
- Staking period: The period for locking SUN in V2 lasts from 26 weeks (6 months) to 4 years (365 days*4). All locked SUN will be unlocked at the same time, and the maximum locking period is 4 years. The user can choose a time between “26 weeks (6 months) to 4 years from the day when his/her last lock expires” for his/her latest lock. Once a time is chosen, all locked SUN will be unlocked at this time. All locks will expire at the same time;
- Voting rights: The number of votes you can get will be calculated by the system when the SUN lock pool confirms the amount and expiry date of the lock.
2-3 Notes
Vests in the same cycle will expire at the same time. A cycle is defined as seven days starting from every Thursday at 08:00:00 to the next Thursday at 07:59:59 (SGT).
3. Voting rights and community governance
Weights of liquidity pools are determined by voting. Users can obtain voting rights veSUN by locking their SUN. The voting snapshot at 08:00 every Thursday (SGT) determines the mining weight of each liquidity pool from 08:00 of the day to 08:00 next Thursday (SGT).
- Voting right calculation: Quantity of veSUN = Quantity of locked SUN * (Expiry date - Current date)/4 years. Users who lock SUN for 4 years (365 days * 4) can receive the same amount veSUN as the SUN locked;
- Votes are cast on a percentage basis: the number of votes is calculated in real time based on the percentage to be cast and the locked volume and unlock time at the time of voting. While votes are not able to be withdrawn once cast, the percentage can be changed;
- Previous votes will not be affected by newly locked SUN and time of new locking actions. Therefore, the absolute quantity and unlock time of votes for each mining pool will remain unchanged unless the percentage is reallocated. The contract will only ensure that the sum of percentages for all pools does not exceed 100%, rather than verify the quantity of veSUN for each pool.
- The weight of each liquidity pool comes to effect simultaneously at Phase 1 and 2.
4. Notes:
After Governance Mining (V1) ends on September 15, 2021 (SGT), you may choose to withdraw your LP tokens and SUN in Phase 1 and deposit them into Phase 2 pools for more rewards. Details for the Phase 1 pools are as follows:
- Staked LP tokens shall no longer generate rewards after September 15;
- Vested, staked, and locked SUN tokens shall no longer generate TUSD rewards after September 15;
- Locked SUN tokens can be withdrawn upon expiration. The tokens, if still locked, will not generate any TUSD rewards after September 15, but can still bring in SUN penalty rewards if there are any.
Ⅳ. Genesis Mining (V1)
The previously launched Genesis Mining (V1) has ended.
Genesis Mining consists of two LP pools, namely Old 3pool LP and SUN-TRX LP mining pool, which contain 80% and 20% of the SUN rewards dedicated for Genesis Mining respectively.
| Type | Proportion of rewards (%) | Quantity of daily SUN output |
|---|---|---|
| Old 3pool LP | 80 | 15,920,584 |
| SUN-TRX LP | 20 | 3,980,146 |
1. Claim LP mining rewards
- Your SUN rewards earned from staking LP tokens need to be “vested” before they are credited to your wallet;
- There will be a two-month vesting period for vested SUN tokens. An early exit will result in a 50% penalty, which will be distributed to users who stake and lock SUN;
- If your vested SUN rewards are not immediately withdrawn, they will count towards SUN mining for TUSD vesting rewards;
2. SUN staking-mining rules
Currently, the platform supports SUN staking pool and SUN lock pool.
- Staking pool: Users can stake SUN for TUSD rewards. Deposits and withdrawals are allowed anytime.
- Lock pool: Lock SUN for TUSD rewards and SUN penalty rewards, which need to be locked for two months.
3. Notes:
After Genesis Mining (V1) ends on July 14, 2021 (SGT), you may choose to withdraw your LP tokens and SUN from V1 and deposit them into V2 pools for more rewards. Details for V1 pools are as follows:
- Staked LP tokens shall no longer generate rewards after July 14;
- Vested SUN tokens and staked SUN tokens shall no longer generate TUSD rewards after July 14;
- Locked SUN tokens can be withdrawn upon expiration. The tokens, if still locked, will not generate any TUSD rewards after July 14, but can still bring in SUN penalty rewards if there are any.