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Why are some nations wealthy while others struggle with poverty? This question has intrigued economists for decades, and recent [Nobel-winning research](https://www.nobelprize.org/prizes/economic-sciences/2024/press-release/) highlights the role of public institutions as a key factor in prosperity. According to the study, inclusive institutions that encourage participation and growth can drive economic success, while extractive ones may hinder progress, regardless of individual efforts.

These insights into economic structures come at a time when technology is rapidly reshaping how economies operate and evolve. In an era of fast-paced digital transformation, blockchain, in particular, offers a new approach — enabling quick experimentation and near-instant results that would be unthinkable in traditional economic systems. So, what cutting-edge innovations has blockchain brought to the world? Let’s summarize the key advancements in today’s article.

### Bitcoin

Bitcoin stands out as a prime example of blockchain technology’s potential, functioning as a decentralized store of value that offers individuals an alternative to traditional currencies and investment assets. Often referred to as "digital gold," Bitcoin shares similar qualities, such as a limited supply and the ability to serve as a hedge against inflation and economic instability. Its robust network further enhances its appeal, making it increasingly popular for long-term savings and wealth preservation.

However, this innovative currency presents challenges, particularly concerning privacy. The transparency inherent in the Bitcoin network means that, while transactions can be pseudonymous, they remain publicly visible on the blockchain. This openness creates a paradox: many users are attracted to the idea of financial autonomy, yet the lack of privacy may deter those wishing to keep their financial activities confidential. Consequently, there is increasing anticipation for new protocols that could enhance privacy without compromising the decentralized nature that makes Bitcoin so revolutionary.

### Ethereum

Ethereum revolutionized the blockchain landscape by introducing the principle that "code is law," establishing a framework where developers can create decentralized applications and smart contracts. This innovative platform led to the emergence of standardized tokens like ERC-20, which facilitated a new wave of digital assets. The rapid adoption of these standards resulted in an explosion of token creation, including everything from utility tokens to memecoins, showcasing the platform’s versatility and accessibility.

Ethereum also exemplifies the boundless potential of blockchain technology: the ability to create virtually anything without limitations. This environment fostered the development of "right institutions," paving the way for groundbreaking innovations such as Initial Coin Offerings (ICOs), Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), and Play-to-Earn games. These advancements have reshaped various industries, driven by two foundational pillars: robust code standards and the freedom to innovate without constraint.

### Binance Smart Chain

Building on Ethereum's foundational principles, Binance Smart Chain (BSC) emerged as a platform that offers cheaper and faster transactions, attracting developers and users alike. This accessibility sparked a significant surge in decentralized applications and services, catalyzing the creation of Web3 games and other innovative projects. The success of BSC's model not only expanded the ecosystem but also led to the proliferation of over 200 Ethereum clones, as developers sought to replicate its achievements. By lowering barriers to entry, BSC democratized access to blockchain technology, enabling a wider audience to engage with decentralized finance and other digital experiences.

### Polygon

Taking the evolution of blockchain scalability a step further, Polygon (previously known as Matic Network) introduced solutions that allowed for near-instant transactions with minimal fees. Initially, this resulted in a flourishing ecosystem of decentralized applications and economic bots, demonstrating the potential for a high-volume, low-cost environment. However, this rapid growth revealed inherent challenges, as the influx of activity underscored the unsustainability of completely free transactions. In response, Polygon's developers implemented a strategy to introduce minimal fees, striking a balance between accessibility and sustainability.

### Web3 Gaming

As blockchain technology continues to reshape traditional economic models, its impact extends significantly into the gaming industry. The rise of Play-to-Earn (P2E) games represents a significant shift in the blockchain and Web3 economy, redefining player engagement in digital environments. By leveraging blockchain technology, these games allow players to earn real-world value through in-game activities, fundamentally altering gaming dynamics. Unlike traditional games that limit ownership and confine value to centralized systems, P2E games foster fully on-chain economies where digital assets can be owned, traded, and monetized, granting players true ownership and agency over their virtual assets.

However, creating sustainable economies within these games poses unique challenges. In a decentralized landscape, even minor disturbances in the in-game economy can trigger significant sell-offs, leading to instability reminiscent of financial panics. To tackle this, developers are innovating economic models that prioritize balance and resilience. These advancements not only enhance player engagement but also cultivate community-driven ecosystems where players can influence the direction of their favorite games. As the P2E model evolves, the potential for blockchain to transform the gaming landscape remains immense, paving the way for new forms of interaction and economic participation.

### Final Thoughts

In conclusion, the transformative potential of blockchain technology extends beyond innovative financial instruments and decentralized applications; it also emphasizes the importance of establishing robust governance structures that foster inclusivity and resilience. By learning from the successes of nations with effective economic models and integrating these insights into blockchain initiatives, stakeholders can create the right institutions needed to support sustainable growth in virtual economies. As we advance into this digital era, focusing on sound governance will be crucial for harnessing blockchain's capabilities and driving meaningful economic participation, ultimately paving the way for a more equitable and prosperous future.


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Blockchain Evolution

In a recent interview with Cointelegraph, Alex, a developer from Sundog, discussed the meteoric rise of this memecoin. The conversation also explored Sun Pump and the broader memecoin market, offering valuable insights into their dynamics and future potential.

Sundog, a dog-themed memecoin built on the Tron blockchain, has gained significant traction, now boasting over 500k holders.

### Sun Pump

Sun Pump is a platform for launching and trading memecoins on Tron. The team markets Sun Pump as a platform with “no rug pulls and no team allocation.”

To quote Alex from Sundog, “Where Solana was a crowded marketplace that was hard to stand out in, Tron was a blue sky and we felt that we wanted to be in an ecosystem where we could make a difference and put in the work and creativity to launch a chain-leading meme.”

If you want to learn more about Sun Pump, take a look [at this article](https://whattofarm.io/blog/degen-news/meet-sun-pump).

### How Sundog Rose to Prominence

Sundog rapidly rose to a $300 million market cap and is now aiming at $5 billion.

According to Alex, the price has risen rapidly due to the fact that Sundog managed to tap into the untapped Tron community and persuade a lot of other memecoin holders from Solana to migrate to SUNDOG. The trust was built, and it showed.

They demonstrated strong resilience in terms of pricing, leading new participants to join our project at all stages of our development. Additionally, they distributed a substantial $2 million worth of SUNDOG tokens to the Tron community through an airdrop.

Sundog's global presence is evident from trending on X in various countries, including the United Kingdom, Germany, Brazil, and the United States.

### Why Memecoins Have Better Staying Power than NFTs

To quote Alex directly: Memes, unlike non-fungible tokens (NFTs), are able to cut across both Web2 and Web3. They are a social currency — a way for friends and communities to come together and have fun, discover and (hopefully) make gains. Many in the Sundog community have made profits, and this is important to us."

Memecoins incorporate the cultural and social aspects of NFTs, such as memes and inside jokes, and spread it across a large supply of interchangeable units, merging NFT culture with the rapid pace of altcoin trading.

### The Future for Memecoins in 2024 and Beyond

Memes will remain a fixture. They have demonstrated themselves as a primary catalyst for generating interest in the market at this moment, encapsulating the spirit of people coming together for enjoyment and collective speculation. Platforms like Robinhood and eToro have included memes, attracting a conventional retail audience, thus showcasing their appeal beyond just Web3.

Memecoins stress-test blockchain technology, mirror market sentiment, and foster dynamic communities beyond the typical crypto audience. They validate the reliability and scalability of technology, serving as indicators of broader market trends. Memecoins challenge blockchain technologies to exhibit resilience in the face of new obstacles.

**Please note, the views expressed in this article are not financial advice. It is essential to conduct your own research before making any investment decisions*

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Sundog's Journey

Sun Pump, a memecoin generator based on Tron, launched less than two weeks ago and already overtook Pump Fun. So, how did this happen?

### What is Sun Pump

Introduced in mid-August by Justin Sun, the well-known founder of Tron, Sun Pump is a token generator branding itself as the “first meme fair launch platform” on the Tron network. It stands in direct opposition to Pump Fun. The team markets Sun Pump as a platform with “no rug pulls and no team allocation.”

“When every dev can build a community through a fair launch, gain everyone’s support, and foster enthusiasm and loyalty, the community can share in the success of the cryptocurrency,” said Justin Sun.

But how is it different to Pump Fun?

### Sun Pump vs Pump Fun

After debuting on Solana in January, Pump Fun has allowed users to create and launch their own meme coins without technical skills, using a bonding curve pricing model that adjusts token prices based on supply and demand. Originally exclusive to Solana, Pump Fun has expanded to Base and Blast, removed user token deployment costs, and rewards creators with 0.5 SOL when their tokens exceed the bonding curve.

Sun Pump, on the other hand, is not just an alternative platform on a different chain for issuing tokens. The platform boasts a higher rate of token success, with nearly 2% of its tokens transitioning to the Tron’s decentralized exchange, Sunswap, after reaching sufficient trading volumes. In comparison, Pump Fun sees only 1.26% of its tokens move to the Solana exchange, Raydium. This difference suggests that Sun Pump might be more effective at ensuring a higher proportion of tokens achieve long-term value, which is crucial for maintaining trader interest.

According to Dune Analytics, Sun Pump has launched 7,351 tokens and generated $585,000 in revenue on August 21st, while Pump Fun saw 6,701 new tokens created and $366,000 in revenue during the same period.

### Sun Pump Ecosystem

Now, let’s take a look at some of the tokens:

🐶 **SUNDOG**: Currently one of the standout tokens on Sun Pump, SUNDOG has emerged as the de facto mascot of the platform. At the time of writing, it boasts a significant market cap of $191 million, reflecting its prominence and the strong community support it has garnered.

🐷 **FoFar**: Drawing inspiration from Matt Furie’s Boys’ Club, which includes the iconic Pepe character, FoFar features a distinctive red pig design. Despite its more niche appeal, FoFar has made an impression with a market cap of $16.7 million, showcasing its unique place within the ecosystem.

🐱 **SUNCAT**: Where there’s a SUNDOG, you’ll find a SUNCAT! Launched just a week ago, this token has quickly made its mark with a market cap of over $7 million, adding its own touch of excitement to the Sun Pump lineup.

However, the most captivating token to date is SunWukong.

### SunWukong

An anonymous trader on the Tron network invested $1,000 to buy 43.8 million SunWukong tokens. The token’s value surged dramatically after Tron founder Justin Sun updated his profile picture to Sun Wukong, a character from the newly released game *Black Myth: Wukong*, which drew inspiration from the classic *Journey To The West*. This surge pushed the trader’s investment to over $750,000.

The price of SunWukong jumped from around $3,000 to $17 million in less than 12 hours. Although the value has since dropped, the token still holds a market cap of $9.4 million. As of now, the trader hasn’t sold any of their SunWukong tokens, and their holdings are currently worth about $329,000.

### Summary

Sun Pump, a memecoin generator on the Tron network, has rapidly gained popularity since its launch, quickly surpassing Pump Fun. In just under two weeks, Sun Pump has significantly boosted activity on Tron, with active wallets on the network rising to over 2.35 million addresses. While critics argue that memecoins are detrimental to the crypto space, there is significant enthusiasm surrounding them, and they can bring substantial interest and engagement to the market.

The upcoming weeks will be crucial in determining whether Sun Pump can maintain its momentum or if Pump Fun will reclaim its leading position. As always, investors should approach this highly speculative market with caution and conduct thorough research before engaging with these volatile assets.

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Meet Sun Pump

**Messi and Ronaldinho Endorse Solana-Based WATER Coin**

Recently, football legends Lionel Messi and Ronaldinho made waves in the crypto world by endorsing WATER Coin, a Solana-based memecoin. Messi’s Instagram story, shared with his 504 million followers, and Ronaldinho’s similar post to his 76.6 million followers, spotlighted the token, causing its value to surge nearly 400% before dropping and stabilizing. This sudden interest highlighted the power of celebrity influence in the volatile cryptocurrency market.

WATER Coin claims to address global water-related issues through sustainable projects. Its roadmap includes phases from presale to becoming a charity-focused environmental token. Despite its noble intentions, critics have raised concerns. For instance, YouTuber Ajay Kashyap and crypto commentator Ponga have questioned the legitimacy of WATER Coin’s mission and warned potential investors to be cautious.

The crypto market’s reaction to Messi and Ronaldinho’s endorsements underscores the influence celebrities wield, but also the inherent risks. Historical trends show that while celebrity endorsements can boost short-term interest and value, they don’t guarantee long-term success. From the ICO boom in 2017 to the NFT craze in 2021, and now the meme token hype, it's crucial for investors to conduct thorough research.

Our DeFi aggregator provides comprehensive data to help analyze tokens effectively, offering a unique advantage with its own data sources and robust tools to assess DeFi metrics. This enables investors to make informed decisions based on solid research. While celebrity endorsements might catch your eye, it's crucial to rely on thorough analysis to navigate the crypto landscape successfully.


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Messi and Ronaldinho Endorse Solana-Based WATER Coin

Cadenas de bloques	22
DEXes	830
Pools	3.682.746
Tokens	2.359.324
Granjas	4778
NFTs	Pronto...

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