TLDR
- Wormhole Labs launched Sunrise, a new platform that allows tokens to launch on Solana with immediate liquidity on day one
- Monad’s MON token is the first asset to use Sunrise, going live on Nov. 24 with trading against USDC and SOL
- The platform uses Wormhole’s Native Token Transfer framework to move tokens from other chains to Solana without wrapped versions
- Sunrise integrates with Jupiter DEX and Orb block explorer for immediate trading and portfolio tracking
- The platform aims to become the standard entry point for new tokens launching on Solana
Wormhole Labs announced the launch of Sunrise on Nov. 23, a new platform designed to bring tokens onto Solana with day-one liquidity. The platform aims to solve a problem where new assets often launched on other chains first, delaying their arrival on Solana.
Monad’s MON token became the first asset to use Sunrise. The token went live on Monday, Nov. 24, coinciding with Monad’s mainnet launch.
Sunrise uses Wormhole’s Native Token Transfer framework to move assets from other chains directly to Solana. This approach eliminates the need for wrapped tokens or multiple bridging steps that previously complicated cross-chain transfers.
How the Platform Works
The platform operates as a unified gateway for token issuers and users. Projects can push their tokens into Solana with a single action while liquidity providers can prepare pools in advance.
Tokens arrive on Solana in their native form rather than as wrapped versions. This makes integration with existing Solana DeFi applications simpler and more direct.
Users can access Sunrise through its dedicated dashboard or through integrated tools. Jupiter DEX and Orb block explorer both support Sunrise, allowing immediate trading and portfolio tracking for incoming tokens.
MON token holders can deposit their tokens from Monad to Solana and trade them against USDC, SOL, and other Solana assets. Trading began on the first day of Monad’s mainnet activation.
Platform Targets Multiple Asset Types
Sunrise plans to support various asset types beyond standard cryptocurrencies. The platform will accommodate layer-2 tokens, institutional assets, commodities, and tokenized equities.
The Solana Foundation’s growth lead Kuleen Nimkar stated that products like Sunrise help enable Solana’s vision for internet capital markets. He noted the platform gives new assets a seamless path into the network from launch day.
Before Sunrise, Solana users often faced fragmented liquidity when new tokens launched. Multi-step bridging processes created friction for users trying to access new assets quickly.
The platform addresses these issues by creating a single standardized route. This approach reduces complexity for both token issuers and end users.
Sunrise establishes a predictable environment for liquidity migration from other chains. The standardized pathway lowers barriers for projects considering a Solana launch.
The platform builds on Wormhole’s existing cross-chain infrastructure. Wormhole already supports token transfers across multiple blockchain networks.
The post Wormhole Launches Sunrise Platform for Day-One Solana Token Listings appeared first on Blockonomi.
Source: https://blockonomi.com/wormhole-launches-sunrise-platform-for-day-one-solana-token-listings/