Justin Sun Wants More TradFi on Tron, Dogs Over Cats for Memecoins
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Justin Sun speaks with CoinDesk at Chainlink's SmartCon event in Hong Kong (Tron)
Getting a sit-down interview with Justin Sun is a difficult process. Logistics are coordinated at the same scale as if he were a head of state, and Sun's schedule at a conference is organized down to the minute.
Booking Sun requires a secure room; there were visits by advance teams to walk through it and a sweep from security.
CoinDesk got 20 minutes with Sun on the sidelines of Chainlink's SmartCon during Hong Kong Fintech week to talk about everything from why memecoins are more fair than VC-backed tokens, as well as why Chainlink is bringing more TradFi to Tron.
On the fairness of memecoins
Sun: Fair launch is one of the biggest advantages of meme coins. Everyone can track the tokens, and if anyone moves large amounts of assets without the community knowing, the price will drop significantly.
We’ve seen instances called "rug pulls" when this happens. Fair distribution and fair launches are key. I tell memecoin developers on Tron that if they want to be at the top, they need to ensure fair launch and distribution.
CoinDesk: There has been a shift in market structure with major cryptocurrencies and tokens like bitcoin, Ethereum and Tron, as well as memecoins and VC coins. Do you see this trend continuing over the next two years, with a focus shifting back to the community?
Sun: I definitely see people focusing back on the community. It’s very impressive.
Recently, HTX has launched memecoins on our platform, and most have had great returns – around 100% or more.
If you look at Binance, their coin returns are actually very low, even though Binance has a stricter listing strategy compared to Tron.
For Binance, you need to prepare for about half a year just to get listed. The main tokens listed there are VC-backed, and their performance has been disappointing, often declining by 50% or more. If you bought a VC-backed coin at launch on Binance, you probably lost a lot of your investment.
But with HTX, there are no listing fees, and we list tokens we believe have a strong community. New coins on HTX can see returns up to 500x.
HTX is focused on meme tokens, and you can see the trend difference. Speed is also crucial. Meme coins can capture attention quickly, and I study memecoin trends daily.
The narratives change constantly, keeping things exciting and never boring. One day it might be a new Elon Musk meme coin, the next an a16z coin, or even religious, AI or art-themed memecoins. New meme concepts are always emerging.
CoinDesk: With memecoins, are you a dog or a cat person?
Sun: I'd say like 60% dog.
