Tron founder Justin Sun predicts $4 billion revenue boost with meme strategy
Aug. 22, 2024, 3 p.m.
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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 predicted that TRON’s total revenue might hit $3 billion within the next 12 months. He stated that $1 billion would be burned and $2 billion would be distributed as rewards to stakers and for transaction subsidies. He further added that if the meme strategy achieves its goals, revenue could potentially climb to $4 billion.
Significantly, Sun reported that the network’s daily revenue attained an all-time high of $5.33 million, exceeding competitors like Ethereum and Solana during the same period.
Experts have attributed the recent increase in fees on Tron to the recent launch of the SunPump memecoin deployer on the network.
Interestingly, the Tron network deployer surpassed its Solana-based counterpart, Pump.fun , in daily activity and revenue. Based on 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
Simultaneously, Sun shared plans to improve 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 discreetly removed about 12,000 BTC from the stablecoin’s collateral without the DAO’s authorization.
While Sun did not directly address these allegations, he explained that USDD functions similarly to MakerDAO’s DAI. He highlighted that when collateral surpasses the system’s specified amount—typically between 120% and 150%—collateral holders can withdraw their funds freely without requiring approval. However, if collateral falls below a certain threshold—usually under 110%—it needs to be replenished, 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 about $744 million, backed by 10.9 billion TRX tokens valued at over $1.7 billion and $18.3 million USDT.