TRON based decentralized financial network SUN.IO announced that it has established the Community Governance Committee for SUN. In the official Twitter thread, SUN mentioned features of the SUN DAO, which includes a committee comprising of SUN holders, transparency and self-governance, coordination for global events, etc. The network also added that the first SUN DAO committee would comprise of 10 volunteer representatives.
— SUN.IO (@defi_sunio) September 29, 2020
SUN has been TRON’s answer for growing competition in the DeFi segment within the crypto-blockchain industry. The demand for DeFi products has witnessed an exponential rise within the last few months, and this has compelled most crypto companies to strengthen their efforts in the DeFi segment. Commenting on establishing the SUN DAO, TRON CEO Justin Sun tweeted that setting of the governing committee is a small step for the SUN, but a milestone for community governance at large.
🚀A small step for $SUN 🌞, a huge milestone for community governance! 🙌
— H.E. Justin Sun🌞🇬🇩🇩🇲🔥₮ (@justinsuntron) September 29, 2020
In the official announcement on Medium, SUN Foundation stated that the first committee for ten members will coordinate the Vote-for-Listing campaign commencing in October on SUN.IO and will also plan the strategic roadmap for the SUN community. SUN also added that it would establish global communities on various social networks like Weibo, Discord, Twitter, and Telegram, to push growth prospects.
Commenting on the community developments, Justin further said that TRON Foundation desperately needs SUN, which has zero VC or PE investments or pre-mining reserves for the mining team. He further added,