Justin Sun Pledges $1 Million Support for Meme Coin Developers By CoinEdition

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Justin Sun Pledges $1 Million Support for Meme Coin Developers

Published May 08, 2023 11:03AM ET Updated May 08, 2023 11:30AM ET

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Justin Sun Pledges $1 Million Support for Meme Coin Developers

Justin Sun has invited meme coin developers to build on his Tron network.
The Tron founder offered funding support of up to $1 million, along with a prioritized listing on Huobi.
Sun’s Huobi exchange recently reached an agreement with Tron to launch a memeverse carnival.

Justin Sun, the crypto entrepreneur behind BitTorrent and Tron, has announced funding support of up to $1 million to meme coin developers in order to encourage them to build on his Tron network. In addition to the monetary support, the Tron founder also offered a prioritized listing of participating meme coins on Huobi and Poloniex.

Attention meme coin developers! Join #TRON and #BitTorrent with your meme coins, and benefit from our funding support of up to $1 million to reimburse your trading gas fees. Furthermore, top exchanges like @HuobiGlobal and @Poloniex will prioritize the listing of your meme coins. https://t.co/gISRGYEUv3
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 7, 2023

Sun took to Twitter recently to announce the new promotional campaign, which is part of a broader strategy aimed at increasing the adoption of Tron. According to the crypto entrepreneur, meme coin devs who join Tron and BitTorrent will be rewarded with the funding support of up to $1 million to reimburse them for the trading gas fees.

Meme coin developers who choose to build on Tron will also get a prioritized listing of their meme coins on leading crypto exchanges like Huobi Global and Poloniex. Justin Sun is rumored to be the owner of Huobi. He currently serves on the exchange’s Global Advisory Board. Sun also highlighted a recent partnership between Huobi and Tron.

According to a recent tweet from Huobi Global, the crypto exchange reached a strategic cooperation agreement with Tron and BitTorrent to launch a memeverse carnival. Tron and BitTorrent will reportedly support the development and ecological development of memecoins. The partnership was reportedly established last year.

As per the partnership, upon reaching an on-chain trading volume of $1 million on Tron and BitTorrent, the gas fees will be fully refunded to the meme token issuers. Additionally, the TronDAO Ecosystem Fund will establish the Memeverse fund, which will contain 20 million TRX ($1.36 million). This fund will reward the most popular meme token projects in the Tron ecosystem.

The post Justin Sun Pledges $1 Million Support for Meme Coin Developers appeared first on Coin Edition.

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