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What is Sunny (SUNNY)? Everything you need to know about SUNNY Token

Publish by Charlie at 10 October 2021

The Solana ecosystem has been blooming since the beginning of 2021. Every DeFi component of Solana has been completed and is ready to take off. Inside the ecosystem, Sunny is acting as an aggregator that had incredible growth in just one month. The TVL was at the bottom and rocketed to nearly $3.4B.

Sunny's TVL

The article below will provide all the detailed information about Sunny, including:

  • What is Sunny? How does it work?
  • What is Sunny Token (SUNNY)? All detailed information about its Tokenomics.
  • How to get and buy SUNNY tokens?
  • Roadmap and updates.
  • Details about the team, investors, and partners.
  • Is Sunny a good investment?

Let's explore the potential of Sunny!

What is Sunny?

Sunny is a DeFi yield aggregator built on the Solana blockchain that allows other developers to build protocols and applications on top of the platform. It simplifies the management of all yield farming positions and enables compounding strategies for additional profits.

The core feature of Sunny is composability. This composability means the interoperability, connection, and interaction among DeFi protocols.

Sunny Website: https://app.sunny.ag/

How does Sunny work?

Sunny is placed at a higher layer than other layer-2 yield farming projects since it is a yield farming aggregator, optimizing the position management and maximizing the profit from yield farming.

Basically, Sunny replicated the successful model of an Ethereum-based yield aggregator - Yearn Finance. The Sunny platform provides a composable building block for other Solana-based projects.

When users deposit their SPL tokens into Sunny pools, in return, they receive SPL-standard agTokens representing the proportional share of the pool. The token can be used for various services from other protocols on Solana.

For example, a Sunny pool has $1000 USDC and 1000 agUSDC tokens. Therefore, 1 agUSDC is worth $1 USDC. Whenever users deposit $1 USDC, they will receive 1 agUSDC. The number of agUSDC tokens users receive depends on the ratio of the two tokens in the pool.

Sunny Pools

What is SUNNY Token?

SUNNY is the SPL governance token of the Sunny aggregator. SUNNY holders can govern the decentralized Sunny protocol through the voting process.

Detailed information about SUNNY Token

SUNNY Price Today

Currently, you can track the price of SUNNY on Coin98 Markets: https://markets.coin98.com/currencies/sunny-aggregator

Coin98 Markets is a website that helps users to get updates of the real-time prices, as well as view the detailed information of a Token Metric from any project. More specifically, you can access the home page or the community page of a project or filter the coins/tokens by Market Cap, Trading Volume, etc.

SUNNY price is updated currently on Coin98 Markets (updated: October 10th, 2021)

SUNNY Key Metrics

  • Token Name: Sunny.
  • Ticker: SUNNY.
  • Blockchain: Solana.
  • Token Standard: SPL.
  • Contract: SUNNYWgPQmFxe9wTZzNK7iPnJ3vYDrkgnxJRJm1s3ag.
  • Token Type: Governance.
  • Max Supply: 19,884,700,000 SUNNY.
  • Circulating Supply: Updating...

SUNNY Token Allocation

The SUNNY Token has the total max supply of 20,000,000,000 tokens distributed as follows:

  • 22% Initial Sunny Contributors (2-year linear vesting)
  • 26% Sunny DAO Treasury
  • 52% Mining Reserve & Airdrops
SUNNY Token Allocation

SUNNY Token Sale

Updating...

SUNNY Token Release Schedule

  • 22% Initial Sunny Contributors (2-year linear vesting)
  • 26% Sunny DAO Treasury
  • 52% Mining Reserve & Airdrops

SUNNY Token Use Case

Governance: The SUNNY DAO governance is distributed to Sunny users. It is used to decide the future of the Sunny protocol.

How to get SUNNY Token

You can get SUNNY by staking LP tokens in the Sunny pool or buying on exchanges.

How to buy SUNNY tokens

You can use Coin98 Exchange to swap other tokens for SUNNY following these simple steps on: exchange.coin98.com

Step 1: Connect to the Coin98 Extension Wallet.

Step 2: Select the Coin98 Exchange Solana.

Step 3: Choose coins/tokens for trading:

  • Search SUNNY.
  • If the result does not come up, you can paste the contract of SUNNY into the search box: SUNNYWgPQmFxe9wTZzNK7iPnJ3vYDrkgnxJRJm1s3ag;

Step 4: Adjust the amount you want to swap.

Step 5: Adjust the gas fee, then click Approve.

How to buy SUNNY using Coin98 Exchange

How to store SUNNY Token

You can store, send, receive SUNNY Tokens on Coin98 Wallet with a few single steps. The guides on how to make transactions with SUNNY on Coin98 Wallet are as follows.

Step 1: Open Coin98 Wallet & click Receive on the home screen.

Step 2: Search SUNNY Token.

Step 3: Click on the correct result, copy the wallet address and send SUNNY to this address.

How to receive SUNNY tokens on Coin98 Wallet

Roadmap & Updates

The Sunny team has not published any plan or roadmap yet. They just released a few updates and the most recent one is the pool migration.

Pool Migration

Currently, it’s common for any DeFi projects to release the roadmap. The roadmap is not compulsory but investors should be informed about what will be the next targets/milestones.

Team, Investors, and Partners

Team

Surya Khosla is the founder of the Sunny protocol. The Sunny official Twitter account sometimes retweets his posts. All members of Sunny remain anonymous to the public.

@SuryaKhosla

Investors

Updating...

Partners

Saber has the most influence on the Sunny platform since Saber LP tokens can be staked in most Sunny pools. This means Sunny is the side-kick product of Saber.

Is Sunny a good investment?

DeFi users have to use many separate yield farming platforms, resulting in inconvenience. The problem is apparent on Solana and Sunny can solve it with a yield aggregator. There are some key highlights from Coin98 for investment decisions.

Sunny has no clear roadmap and poor documentation. While collecting information about Sunny, it’s not easy to synthesize the data to understand what Sunny is about. Furthermore, Sunny hasn’t disclosed any information about the team and investors (the initial Sunny contributors).

The SUNNY token is only used for the platform governance that is yet to be completed. Due to few token use cases, it cannot capture much value. As a result, the SUNNY token price is in a narrow range and has little trading volume.

The SUNNY Token Price

The Sunny team applied the yield aggregator model of Yearn Finance. They have gained initial success since the TVL has been drastically growing. And Sunny is ranked in the top 3, only behind two Ethereum-based projects in terms of yield TVL. This indicates the size of Sunny and the Solana ecosystem as well.

Yield TVL Rankings

The APR for yield farming on Sunny is comparatively higher than that on other platforms. Users are charged with no withdrawal fee, and the performance fee is currently 16% on non-SUNNY yields. The fee is transferred to the Sunny DAO for future decisions driven by the community.

Farming APYs

From my perspective, Sunny had a good start after being the first and only yield aggregator in the Solana ecosystem. However, besides earning yields, investors can buy SUNNY tokens and sell them at a higher price. The token price is slow-moving since the limited utility is only for the platform governance.

And as usual, whether it is worth investing or not, Do Your Own Research before buying and be responsible for your investment.

Similar Projects

Sunny is the first yield aggregator project on Solana. However, it replicated other DeFi models on other blockchain platforms such as Yearn Finance and Alchemix.

Conclusion

Sunny is the pioneer and the dominator of the Solana ecosystem that aggregates yield farming rewards from other DeFi protocols.

That is all you need to know about Sunny and its SUNNY token. I hope you’ve gained helpful insights to understand the potential behind Sunny.

If you want to know further about Sunny, please leave a comment below and join Coin98 Community for further discussions about Crypto.

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Charlie

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