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Sony, a global leader in technology and entertainment, is now expanding into the Web3 space. Its Singapore-based subsidiary, Sony Block Solutions Labs, is developing Soneium, an Ethereum Layer-2 blockchain that is designed to bridge the gap between Web2 and Web3, making decentralized technology more accessible and user-friendly. By leveraging Sony’s vast global network of technology, entertainment, and media partnerships, along with launching new initiatives, Soneium aims to drive mainstream adoption and help everyday users easily transition into decentralized tech without hurdles.
### History
Sony’s venture into blockchain officially began in September 2023 when Sony Network Communications and Startale Labs formed a joint venture, establishing Sony Network Communications Labs, with the goal of developing a blockchain that could serve as the foundation for a global Web3 infrastructure. By pooling their combined expertise and leveraging a wide network of partners, they aimed to unlock the full potential of blockchain technology to drive broader adoption and lay the groundwork for decentralized solutions to become mainstream.

By August 2024, the company had rebranded from Sony Network Communications Labs to Sony Block Solutions Labs, signaling its renewed focus on blockchain development. Later that month, the launch of Soneium was officially announced. Positioned as a key player in the Web3 ecosystem, Soneium seeks to bring Web3 use cases into everyday life, advancing the venture’s mission to make decentralized technologies easily accessible to all.
### Technical Foundation
Soneium is a public blockchain designed for open participation, leveraging Ethereum’s layer 1 infrastructure to provide faster and more affordable transactions. By building on the OP Stack and Superchain from Optimism, Soneium offers a scalable and EVM-compatible network tailored for developers. Its fully-featured testnet mimics mainnet conditions, enabling thorough testing of projects. The platform supports advanced smart contracts and is built to handle high-volume applications, offering scalability without limits. Additionally, Soneium has a cross-chain bridge, facilitating interoperability, and currently boasts 123 projects within its ecosystem, spanning DeFi, NFTs, and gaming.
### Soneium Spark
In addition to leveraging Sony's global network and Startale's blockchain expertise, the team behind Soneium launched the Soneium Spark Incubation Program ("Soneium Spark") to foster a community of creators and builders shaping the future of decentralized technology. The program aims to support innovation and help projects that can drive long-term growth within the Soneium ecosystem. By offering a space for developers and innovators to succeed, Soneium Spark focuses on sustainable growth in areas like decentralized finance (DeFi), gaming, and entertainment.

Soneium Spark invites submissions in categories such as DeFi (including decentralized exchanges, lending, stablecoins, and derivatives) and Web3 Experiences (spanning NFT, gaming, social, and entertainment). The program’s goal is to spark innovative solutions that contribute to a healthy, thriving ecosystem for Soneium. After an orientation week held from September 10-14, 2024, applications were closed on September 30. The selected winners were announced on October 14, 2024, and will showcase their projects on Demo Day, scheduled for November 15, 2024.

The winners of the Soneium Spark program will receive tailored marketing, technical, and business support, depending on whether they earn Gold or Silver awards. This support will be provided at the discretion of Sony Block Solutions Labs (SBSL), ensuring that the projects have the tools and guidance needed to scale and succeed. Through Soneium Spark, the team aims to build a robust ecosystem of innovation that will lead the way for mainstream Web3 adoption.
### The Road Ahead
As Soneium develops, its ambition is to position itself as a significant player in the Web3 landscape by integrating blockchain technology into everyday life. With its foundation built on Ethereum and Optimism, and initiatives like Soneium Spark encouraging innovation, the platform has the potential to drive broader adoption of decentralized technologies.

However, as with any emerging technology, the path ahead is not without its challenges. While Soneium is well-equipped to support a growing ecosystem, it remains to be seen how effectively it can meet the demands of scalability, security, and usability as the Web3 space continues to evolve. Success will depend on its ability to deliver on its promises and to adapt to the fast-changing blockchain environment.

Looking forward, Soneium aims to attract more projects and developers while contributing to the broader adoption of Web3 technologies. With its focus on innovation, scalability, and ease of use, it is well-positioned to play a pivotal role in shaping the future of decentralized solutions. Soneium's commitment to fostering a thriving ecosystem and addressing real-world challenges offers a promising path toward long-term success.


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Soneium

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*

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

Blockchainy	22
DEXy	827
Pule	3 648 794
Tokeny	2 326 311
Farms	4777
NFTs	Wkrótce...

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