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- SunSwap has reduced transaction fees by 99%, with some transactions costing as little as $0.10.
- The fee reduction has been confirmed by over 200 blocks and key TRON Super Representatives.
- Lower fees could make SunSwap more accessible for frequent trading and smaller transactions.
The latest update in the TRON ecosystem has also caused a drop in the transaction fees for users of SunSwap V2 and V3. SunSwap DEX, which is built on the TRON network, has lowered its fees to 0.30% of the transaction volume. This means that users can now carry out transactions at less than 2 TRX that is less than $0.30per transaction. The other transactions within the platform are slightly cheaper with the cost reducing to as low as $0.10 per transaction.
All SunSwap V2 and V3 transaction fees have now dropped by 99%. Completing a transaction on SunSwap V2 or V3 now costs less than 2 TRX, which is under $0.30 per transaction. Other transaction fees are even lower, down to $0.10 per transaction. Time to come back! pic.twitter.com/QGfGjC0JXY
— H.E. Justin Sun🌞(hiring) (@justinsuntron) September 18, 2024
Lumina reduction of fees is considered as a potential positive signal for the TRON community and SunSwap users. Finally, transaction costs on decentralized exchanges were thought to be a problem when it came to normal trading, or low-value transactions in specific, and liquidity provision. Previously it was too costly with the fees being above $4 per transaction while now it is cheaper with fees ranging from less than $0.30.
The reduction comes after the verification of SunSwap in the block number 65311823 which occurred over 14 hours ago. This decision has been approved by more than 200 blocks which is a plus to the TRON Super Representatives (SRs).
Confirmation by TRON Super Representatives
This fee reduction has also been supported by key SRs such as StakedTron, CryptoGuyInZA, Google Cloud, and OKCoinJapan. These SRs assist in the validation and confirmation of transactions in the network, thus enhancing the integrity of TRON for users.
Even though the fees are lower by an order of magnitude, the consumption of the TRON network resources is still moderate. In the case of the generic transaction under consideration, the fee was 227016 TRX while the bandwidth used was 1116 and the energy was 2.274703.
This fee reduction is likely to impact traders and DeFi users of Binance, who rely on low cost and fast transactions on SunSwap V2 and V3. In the case of TRON’s ecosystem, this signifies a significant development owing to the support from specific key SRs and resource synergy.