Tron founder Justin Sun predicts $4 billion revenue boost with meme strategy News ▸ TRON ▸ Stablecoins
Tron founder Justin Sun predicts $4 billion revenue boost with meme strategy
The Tron founder also revealed plans to make the network's decentralized USDD stablecoin competitive in the market.
2 min read
Updated: Aug. 22, 2024 at 3:16 pm UTC
MelfarraTron / CC BY-SA 4.0 DEED / Wikimedia. Remixed by CryptoSlate
Tron founder Justin Sun believes the blockchain’s revenue could soar to $4 billion within the next year if its current meme strategy proves successful.
In an Aug. 21 post on X, Sun projected that TRON’s total revenue might hit $3 billion over the next 12 months, with $1 billion burned and $2 billion distributed as rewards to stakers and for transaction subsidies. He added that revenue could rise to $4 billion if the meme strategy succeeds.
Notably, Sun reported that the network’s daily revenue reached an all-time high of $5.33 million, surpassing competitors like Ethereum and Solana during the same period.
Analysts have attributed Tron’s fee surge to the recent launch of the SunPump memecoin deployer on the network.
Interestingly, the Tron network deployer outperformed its Solana-based counterpart, Pump.fun, in daily activity and revenue. According to Dune Analytics, SunPump launched 7,351 tokens and generated $585,000 in revenue within 24 hours. In comparison, Pump.fun saw 6,701 new tokens created, generating $366,000 in the same timeframe.
USDD plans
In parallel, Sun shared plans to enhance USDD, a decentralized stablecoin on the Tron blockchain, to make it more competitive in the market.
Sun’s statement followed reports that the TRON DAO had quietly removed about 12,000 BTC from the stablecoin’s collateral without the DAO’s approval.
Although Sun did not address these allegations directly, he explained that USDD operates similarly to MakerDAO’s DAI. He noted that when collateral exceeds the system’s specified amount—typically between 120% and 150%—collateral holders can withdraw freely without approval. However, if collateral drops below a certain threshold—usually under 110%—it must be topped up, or it could trigger liquidation.
Sun also mentioned that USDD currently has a long-term collateralization rate exceeding 300%, indicating limited efficiency in capital utilization. As a result, the TRON DAO Reserve plans to upgrade USDD to better compete with other decentralized stablecoins like MakerDAO’s DAI.
According to its website, USDD has a total supply of around $744 million, backed by 10.9 billion TRX tokens valued at over $1.7 billion and $18.3 million USDT.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
TRON is one of the largest blockchain-based operating systems.
Solana
$195.701
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Ethereum
$3,485.48
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
USDD
$0.99805
USDD is a cryptocurrency issued by the TRON DAO Reserve with a stable price and diverse use cases.
Justin Sun has carved a name for himself as a leading figure in the blockchain sector.
