TRON The record marked May and reached several major milestones in a few short weeks. Contain USDDCollateralized decentralized stablecoin on TRON, Top 100 of CoinMarketCap Just 16 days after the May 5 launch. As of Wednesday, June 1, USDD has reached a new milestone. circulating supply of $667 million on fire 8 billion TRX along the road.
According to data provided by TRON, it ranks third among all public chains by TVL with $6.17 billion, right after Ethereum and BNB Chain. defecation, one of the biggest TVL aggregators for DeFi. As of Thursday, May 26, TRX surpassed AVAX to reach #13 in overall market cap, at approximately $8 billion. CoinMarketCap.
By CoinMetrics Compared to TRON, BTC, ETH, XRP, LINK, XLM, BNB, DOGE, MANA, ADA, QNT, LTC, DOT, ZEC, EOS, NEO, 1INCH, on Sunday, May 29, it also ranked first in the number of active addresses. , AAVE and QNT.
TRX has been receiving significant support from major asset management companies recently. fire blocksNET, a leading global digital asset and crypto infrastructure platform, that announced support for all TRC-20 tokens of the TRX and TRON blockchain on the enterprise-focused digital asset platform last week. This announcement is as follows Crypto FinanceA subsidiary of Deutsche Börse, TRX has announced its support for storage, custody and trading, making TRX available to the entire Deutsche Börse network.
In terms of stablecoin development, TRON DAO Reserve Joined multiple leading blockchain institutions such as Alameda Research, Amber Group, poloniex, Ankara, Mirana, multi-chain, FalconXand as soon as possible TPS Capital USDD will print as Members and Whitelisted Institutions, with more names to be announced in the coming weeks.
TPS Capital, the official OTC desk Three Arrows Capitaloffers a full range of digital asset solutions for institutional investors, funds, protocols and crypto-based organizations. They strengthen new and existing relationships with 24/7 service. The main focuses include but are not limited to providing OTC liquidity in various asset classes, market making, lending and borrowing.
USDD is currently traded on popular lending platforms, decentralized exchanges and centralized exchanges such as: JustLend, SunSwap, PancakesSwap, three points, change, curve, poloniex, Huobi Global, KuCoin, door.io, lBank, bibox, Bitget Globaland KyberSwap. On Thursday, May 26 at 10:00 UTC, BybitOne of the fastest growing cryptocurrency exchanges with over 6 million registered users has listed USDD under a special launch. As part of the launch, Bybit announced a two-part event with a prize pool of 400,000 USDD. designated mining platforms such as SUN.io It currently offers over 30% promotional returns in USDD, appropriately incentivizing DeFi users and strengthening TRON’s DeFi ecosystem. TRON is proud to have supported 122 million USDD in liquidity pools as of May 25.
“TRON’s rapid ascent to the world’s top three public chains by TVL can be attributed to its continued efforts to foster growth across the entire ecosystem,” said HE Justin Sun, Founder of TRON. “USDD reaches 667 million in circulation, Season 2 TRON Big Hackathon 2022 continues with leading partners and judges from across the industry and explosive growth across the entire ecosystem. Since becoming a DAO, the TRON community continues to BUIDLing!”
Stablecoins have long been a key component of the DeFi market, and TRON has been dedicating substantial resources to it for several years. establishing strong relationships with export platforms such as rope and Apartment to the establishment TRON DAO Reserve and throw USDD Based on the TRON platform, TRON has built a solid armada of stablecoins that includes USDT, USDJ, TUSD, USDC, and USDD. USDD quote pairs are now available on Huobi Global with zero transaction fees. This includes TRX/USDD, BTT/USDD, NFT/USDD, JST/USDD, SUN/USDD, WIN/USDD, USDD/USDT and USDD/USDC.
TRON also recently celebrated the highly anticipated Season 2 of TRON Grand Hackathon 2022 with a wave of submissions on Monday, May 16. That same week, TRON DAO was a $10 million incentive fund program taking into account recent events to support soil Developers migrating to the TRON ecosystem. TRX also confirmed to be listed DMM Bitcoin coming soon, top 2 crypto exchanges in Japan.
Since migrating to a DAO in December 2021, TRON has grown into one of the largest blockchain ecosystems in the world. With an on-chain asset value of $54.4 billion, TRON is currently one of the most active settlement tiers with an outstanding range in DeFi, NFT, GameFi, cross-chain link and stablecoins, and is home to over 3.2 to 95 million on-chain users. billions of transactions processed on its network. Even in declining market conditions, TRON continued to see bullish growth while most of the market was worried about the future of the industry; During the week ending May 9, TRON was the only green in a sea of red.
Integration of USDD with more ecosystems in the future – as promised BitTorrent Chain‘s cross-chain solution – will propel TRON’s DeFi ecosystem, and perhaps the entire DeFi industry, into the next phase of growth.
About TRON DAO
TRON is committed to accelerating the decentralization of the internet through blockchain technology and decentralized applications (dApps). Founded by HE Justin Sun in September 2017, the TRON network has continued to deliver impressive success since MainNet’s launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services with over 100 million monthly active users.
this TRON network It has gained incredible traction in recent years. As of May 2022, it has over 95 million total user accounts on the blockchain, over 3.2 billion total transactions, and over $12 billion in total locked value (TVL). TRONSCAN. Additionally, TRON is hosting the largest circulating supply of USD Tether stablecoins worldwide, surpassing USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-run DAO. Recently, the over-collateralized stablecoin USDD was announced on the TRON blockchain, backed by the first crypto reserve for the blockchain industry – TRON DAO ReserveIt marks TRON’s official entry into decentralized stablecoins.
Disclaimer: This is a paid post and should not be considered news/advice.