A comprehensive analysis of the DeFi ecosystem of TRON.

CN
5 hours ago

TRON has established a significant position in the public chain sector, with ecological data showing a strong and continuous growth trend.

With its comprehensive ecosystem, active user base, and substantial asset scale, TRON has firmly secured a core position among mainstream public chains.

Especially in this round of the crypto bull market, TRON's achievements are remarkable: it is not only the public chain network with the highest issuance of USDT but also the preferred settlement layer for stablecoins, handling about 60% of stablecoin trading volume; its monthly revenue in May exceeded $350 million, making it the second most profitable product in the crypto market, among other accomplishments.

According to DeFiLlama data, as of June 16, the total locked value (TVL) of DeFi applications within the TRON ecosystem reached $4.84 billion, with active addresses exceeding 2.3 million and stablecoin assets approaching $80 billion, consistently ranking among the top five in the entire public chain market.

These impressive figures not only showcase TRON's solid user base and strong asset strength but also serve as powerful evidence of its ecological prosperity.

The "Three Driving Forces" Behind Data Growth: Daily New Addresses of Over 200,000, Asset Volume Exceeding Trillions, and a Rich and Diverse Ecosystem of Protocols

In the past year, TRON's on-chain data has shown explosive growth, and the vitality of its ecosystem is at an all-time high. "Daily new addresses exceeding 200,000, on-chain circulating assets exceeding trillions, and a rich and diverse ecosystem of protocols" are the "three driving forces" behind TRON's data growth. A series of impressive data results highlight TRON's strong development potential and leading market competitiveness.

In terms of user scale and growth, the user base of the TRON network is steadily expanding, with both the total number of on-chain accounts and new addresses maintaining strong growth momentum, further solidifying the user base. According to TRONScan browser data, as of June 13, the total number of on-chain accounts has exceeded 313 million, with over 200,000 new addresses added daily, and the number of daily on-chain transactions exceeding 8.67 million, with a total transfer asset value of up to $25 billion daily.

It is worth mentioning that the growth trend of TRON's on-chain address accounts shows a stable linear trajectory. Looking back to the same day a year ago, the total number of on-chain accounts was about 237 million, and now it has achieved a leap of over 32%, with an average of about 210,000 new accounts added daily. This data not only strongly confirms the continuous expansion of TRON's network user base but also highlights the broad appeal and strong market penetration of its ecosystem globally, successfully attracting a vast number of users and laying a solid foundation for the continued prosperity of the ecosystem.

In terms of transaction data processing, the TRON network also performs excellently, with on-chain transactions being extremely active, with daily transaction counts ranging from millions to over a billion. The average daily total transfer value has maintained above $23 billion over the past 30 days. Such large-scale, high-frequency transaction data not only reflects TRON's strong capability in capital circulation but also indicates that its network possesses relatively stable and secure characteristics.

In terms of asset volume, TRON has shown a strong growth trend. From the perspective of the total locked value (TVC) of circulating assets on the TRON network, it has increased by over 40% this year, and the assets exhibit a diversified ecosystem.

According to TRONScan browser data, as of June 13, the total circulating asset value (TVC) on the TRON network is approximately $115.5 trillion, achieving a significant 40% increase compared to $82 billion during the same period last year. Among them, the top three assets by circulating value on the TRON network are USDT (approximately $78.8 billion), TRX (approximately $25.9 billion), and WBT (approximately $2.66 billion), followed closely by BTC and ETH. Additionally, there are assets from TRON ecosystem projects such as WBT, HTX, USDD, BTT, NFT, and TUSD, covering a wide range of fields, collectively building a rich and multi-layered value system that is increasingly diversified.

Regarding network activity, the Gas fee consumption situation provides a glimpse. In the TRON network, the Gas fee mechanism is presented in the form of a combination of Energy and Bandwidth. Users need to consume Gas fees to pay costs when performing operations such as transfers and withdrawals.

Official browser data shows that over the past year, Energy consumption has surged from an initial 80 billion to 190 billion, an increase of 240%. This soaring data not only visually demonstrates the explosive growth of network transaction activity but also indirectly confirms a strong positive correlation between energy consumption and users' real transaction needs. Higher energy demand means more frequent on-chain transactions, contract calls, and other trading activities, highlighting the prosperous state of the TRON network ecosystem and the depth and breadth of user participation.

From the distribution of energy consumption accounts, leading cryptocurrency exchanges such as OKX, Bybit, and Binance occupy the top 10 positions. The high-frequency energy consumption intuitively reflects their deep reliance on and substantial demand for the TRON network, highlighting TRON's excellent performance in supporting large-scale commercial applications and its key strategic position as the underlying infrastructure for leading exchanges, becoming a bridge connecting digital asset trading and Web3 technology.

In terms of ecological development, the TRON ecosystem applications have covered core protocols and products such as the trading hub SUN.io, the MEME asset issuance platform SunPump, the one-stop DeFi solution JUST's lending system JustLend DAO, the liquid staking protocol Staked TRX, and the energy rental platform, as well as the stablecoin USDD, enriching the DeFi ecological development of TRON and providing users with a wide variety of choices.

As of June 16, the TVL on the TRON chain has exceeded $22 billion, remaining stable at around $20 billion over the past year. Among them, the TVL for staking TRX has exceeded $11.8 billion, accounting for the largest share; the TVL for lending JustLend DAO is about $5.5 billion, ranking second; the TVL for cross-chain Just Cryptos is $3.3 billion; the TVL for the trading platform SUN.io is $700 million; and the TVL for the stablecoin USDD is $458 million. These data fully demonstrate the prosperity and vitality of the TRON ecosystem, indicating its broad development prospects in the future.

Overview of Mainstream DApps in the TRON Ecosystem

1. JUST One-Stop DeFi Solution

JUST focuses on developing DeFi protocols based on TRON, aiming to create a one-stop financial solution for users. Its product matrix includes various components such as JustLendDAO, USDD, sTRX, Energy Rental, JustCrypto, and JustStable, providing users with a one-stop diversified financial experience to meet the diverse needs of different users in the DeFi field.

According to official data, as of June 16, the total TVL of the JUST protocol is close to $9.3 billion.

JustLendDAO is the first official lending platform on TRON, where users can not only engage in collateralized lending but also deposit idle assets into the platform to earn stable interest, achieving flexible asset appreciation.

USDD is a fully decentralized stablecoin pegged 1:1 to the US dollar, supporting over-collateralized minting with various high-quality crypto assets such as TRX and USDT.

sTRX (Stake TRX) is a liquid staking product based on TRON, providing users with higher yield returns while offering more flexible unstaking options, allowing users to adjust their asset allocation flexibly according to their needs while enjoying staking rewards.

Energy Rental is a unique energy rental platform within the TRON ecosystem, providing energy rental services for different addresses. By renting energy, on-chain transaction users do not need to directly consume TRX to exchange for resources, similar to using an "energy coupon," significantly reducing transaction payment Gas fee costs and improving capital efficiency, making transactions more economical.

● JustCrypto is a cross-chain token supported by the JUST ecosystem, allowing cross-chain assets such as BTC, ETH, DOGE, and LTC to maintain price stability across different networks, with its cross-chain mechanism provided by quality platforms such as Poloniex and BitTorrent Chain.

2. Lending Ecosystem JustLendDAO

JustLend DAO is an efficient and flexible lending service platform based on TRON. Here, users can invest idle funds to easily earn interest; at the same time, they can borrow other crypto assets, cleverly utilizing leverage to amplify investment returns. The lending and borrowing parties operate automatically based on smart contracts, with the system automatically setting floating interest rates through algorithms based on the supply and demand conditions of specific assets on JustLend DAO, ensuring dynamic balance and rationality of assets.

Currently, the lending assets primarily supported by the JustLend platform include TRX, USDT, USDD, SUN, JST, BTC, ETH, TUSD, BTT, and others.

According to DeFiLama data, as of June 16, the TVL on the JustLend platform reached approximately $3.4 billion, ranking among the top three in the entire lending sector market.

In addition to the lending product JustLend, JustLend DAO also offers Staked TRX staking and Energy Rental services.

Among them, the Staked TRX service provides users with a convenient staking method. Users can easily convert TRX into sTRX with a one-click operation. The staked TRX will be used for voting governance and energy rental, allowing users to easily earn staking rewards just by holding sTRX. As of June 16, the amount of TRX staked on the platform has reached 8.166 billion, with over 4,600 participating addresses, and the current annualized yield is 8.67%.

However, according to on-chain data from TRONScan, as of June 16, the number of TRX holding addresses has exceeded 182 million, with a market value of over $25.6 billion, indicating a very large user base. Currently, the staking market penetration rate is only 8.6%, which means there is still significant growth potential for staking participation.

Energy Rental is another thoughtful feature provided by JustLend DAO, allowing users to directly rent energy to offset Gas fee consumption without burning TRX as Gas fees. This feature helps users save on on-chain transaction costs. Analysis of on-chain data from TRON shows that the number of user holding addresses and transaction frequency are steadily increasing, and the energy rental feature can better serve TRON ecosystem users. As of June 16, the JustLendDAO platform has 37 billion energy available for users to rent, with over 65,000 addresses having participated in energy rental, fully reflecting the popularity of the energy rental feature.

In addition, users on the JustLend DAO platform can earn additional rewards by storing USDD, in addition to earning interest by providing assets. USDD is a decentralized stablecoin jointly initiated by JustLend DAO's sub-DAO—GrantsDAO and the TRON DAO Reserve. In January of this year, USDD was upgraded to version 2.0. At the same time, JustLendDAO launched the USDD lending service, allowing users to earn returns by storing USDD, with the current yield at approximately 6%. As of June 16, the fund pool has reached as high as 264 million USDD.

3. Decentralized Stablecoin USDD

USDD is a decentralized stablecoin based on TRON. Currently, users can obtain USDD in two ways. One is by over-collateralizing high-quality assets such as "TRX, sTRX, USDT" to mint USDD; the other is through the stablecoin exchange tool PSM, which allows direct 1:1 exchange of USDT for USDD, with zero GAS fees and zero transaction fees throughout the process.

According to official data, as of June 16, the total supply of USDD is approximately 430 million.

Currently, USDD has seamlessly integrated with DeFi platforms such as JustLend DAO and SUN.io, and has established close partnerships with compliant exchanges such as Kraken, HTX, Bybit, Gate.io, and Poloniex. On these platforms, users can stake USDD to earn high returns. This extensive ecological integration provides ample space for the circulation and application of USDD, allowing it to better integrate into various aspects of the cryptocurrency market, bringing more value and convenience to users.

4. One-Stop Trading Platform SUN.io

SUN.io is a one-stop trading platform based on the TRON public chain, integrating functions such as asset exchange, meme asset issuance, liquidity mining, and DAO governance, aiming to provide efficient and secure asset trading services for the TRON ecosystem.

Currently, the product function matrix of SUN.io mainly includes the following sections:

SunSwap (Core Trading Engine): A trading platform based on the AMM mechanism, which has undergone three versions of upgrades: V1, V2, and V3, with current trading primarily occurring in the V3 section.

SunCurve and PSM mainly focus on stablecoin asset trading, with PSM being a stablecoin exchange swap tool specifically launched for the stablecoin USDD, supporting users to exchange USDD with stablecoins such as USDT/USDC/TUSD at a fixed 1:1 ratio, with zero slippage and zero transaction fees.

SunPump is the latest product launched by Sun.io, positioned as the first platform dedicated to the fair launch of meme coins within the TRON ecosystem.

SunBoost (Liquidity Incentive Center): This is the platform's LP staking mining module, where users can stake SunSwap's LP Tokens to earn token rewards, serving as the core mechanism for liquidity incentives.

DAO Governance System: Supports users in participating in governance and incentive distribution decisions on the SUN.io platform through the veSUN model, establishing a community-led governance structure.

From a data perspective, SUN.io has performed exceptionally well. According to DeFiLlama data, as of June 16, the total value locked (TVL) of crypto assets on the SUN.io platform exceeds $952 million, consistently ranking among the top three on the TRON network and within the top six in the entire DEX sector.

At the same time, according to data from the official SunScan browser, SUN.io's trading activity is also impressive. In the past seven days, SunSwap has processed approximately 120,000 transactions, with a trading volume exceeding $770 million. In the past week, the number of active addresses on the platform has exceeded 15,000, and the current cumulative number of trading pools has surpassed 25,000, covering a wide asset structure from stablecoin assets and mainstream assets to meme long-tail assets, forming a diversified and inclusive financial ecosystem.

In addition, the SUN platform token has also shown a good development trend. Its circulating market value is approximately $341 million, and over 500 million tokens have been burned, with a clear deflationary path. The token model is closely linked to the platform's value growth, and as the platform continues to develop and grow, the value of the SUN platform token is expected to continue to rise, bringing more returns and rewards to users.

5. Fair Issuance Platform for MEME Assets SunPump

SunPump is a fair issuance platform for MEME assets carefully crafted by Sun.io. Relying on the strong technical infrastructure and large user base of TRON, SunPump quickly gained popularity after its launch in August 2024, consistently ranking among the top three in the competitive MEME issuance sector.

In its first month online, SunPump demonstrated astonishing explosive power, with a record-breaking issuance of 7,351 memes in a single day, and daily earnings reaching as high as $560,000, at one point surpassing the industry leader PumpFun.

According to Dune data, as of June 16, the number of tokens created on the SunPump platform has exceeded 98,000, with approximately 1,850 tokens launched on Sunswap. Since the protocol went live, the cumulative earnings captured have surpassed $10 million. This series of impressive data undoubtedly serves as strong evidence of the vigorous development of the SunPump platform.

In terms of ecological performance, there are currently four MEME tokens with a market value exceeding $10 million, such as SUNdog and PePe.

In terms of product functionality, the SunPump platform continues to iterate and upgrade around three core areas: token creation, trading growth, and community interaction. The platform has successively launched a series of new features, including Sunflare (which helps users discover potential projects in a timely manner), Ranking System (which ranks tokens in real-time based on key indicators such as trading volume and number of holders, providing clear investment references for users), and CEX Listing Apply (where project parties can directly submit applications for centralized exchange listings through SunPump, broadening channels for project development), greatly enhancing user experience and further expanding the platform's ecological boundaries, making it a more complete and diverse MEME asset issuance and trading ecosystem.

In terms of product innovation, SunPump is also actively advancing and breaking through. Last year, the Sun Agent Launch introduced the smart assistant Sun Agent, optimizing AI-driven tools and services to provide creators and traders with a more convenient content generation and management experience. In March of this year, the platform innovatively launched AI Agent @SunGenX, supporting the lightweight token creation feature of "tweet to mint." Users can easily complete the issuance of MEME tokens with just one tweet, greatly simplifying the token issuance process.

Conclusion

Today, TRON occupies a pivotal position in the public chain sector, with ecological data showing a strong and continuous growth trend, driven by multiple factors working in synergy.

The outstanding achievements TRON has made in the three key areas of user scale, asset volume, and ecological protocol development have formed the "three driving forces" propelling its ecological growth, leading TRON to race forward in the crypto sector, unstoppable.

A series of core protocols and modules such as Sun.io, SunPump, JustLend DAO, and USDD provide users with a rich variety of financial products and services, meeting different investment and trading needs. These core product matrices are not only the solid pillars of the TRON ecosystem but also the key forces maintaining its leading position in the DeFi field. They continuously drive the entire ecosystem towards a more prosperous, diversified, and innovative direction.

Looking ahead, TRON is expected to continue writing brilliant chapters in the cryptocurrency market, leveraging its deep technical foundation, large user base, and strong ecological synergy, to create a more open, efficient, transparent, and inclusive financial ecosystem for global users, truly becoming a key infrastructure that illuminates every corner of the world in promoting decentralized finance.

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