Reconstructing the Aggregation Logic of Crypto Assets to Build a Multi-layered DeFi Ecosystem
In the turbulent cryptocurrency market, TRON is rapidly reshaping the industry landscape, with its dominance in the stablecoin sector becoming a crucial anchor point in the crypto economy.
Data from June 11 shows that the issuance of the stablecoin USDT on TRON has exceeded 78.7 billion, occupying more than half of the global stablecoin market, far surpassing the second-ranked Ethereum (with USDT issuance at 73 billion). This data not only confirms TRON's status as the preferred network for stablecoin issuance but also reveals its core value in the field of crypto financial infrastructure.
The "Stablecoin Payment Report" recently released by the crypto data analysis company Artemis in collaboration with Dragonfly and Castle Island Ventures further supports this trend: in the stablecoin payment transaction volume, USDT dominates the market with an absolute advantage of 90%, with TRON serving as its preferred settlement network, accounting for about 60% of the transaction flow.
From a business value perspective, TRON's profitability is equally impressive. According to TokenTerminal, the revenue of the TRON network protocol has surpassed $350 million in the past 30 days, exceeding all crypto projects except for the stablecoin issuer Tether (with $432 million), making it the second-largest earning crypto product in the entire crypto market. This achievement validates the business logic behind its "stablecoin king" status—transforming traffic advantages into sustainable revenue growth through an efficient settlement network and ecological synergy.
As an important infrastructure of the crypto economy, stablecoins are not only a bridge connecting traditional finance and the Web3 world but also the cornerstone of a thriving DeFi ecosystem. With TRON's current stablecoin circulation exceeding $78 billion as a fulcrum, its DeFi ecosystem is expected to leverage market increments worth hundreds of billions of dollars. As the ecological synergy brought by the scale effect of stablecoins and the continuous expansion of application scenarios develop, the TRON network is accelerating its evolution from "stablecoin king" to "DeFi value hub," making its future growth potential worth anticipating.
The DeFi Ecosystem Engine Behind the "Stablecoin King"
TRON firmly sits on the "throne" of the stablecoin sector, which is essentially a dual victory of its underlying technical architecture and the synergy of its on-chain ecosystem. This "king" status not only confirms the network's low-cost and high-efficiency performance advantages but also reveals the prosperous landscape of its on-chain ecosystem.
The prosperity of the TRON ecosystem is primarily attributed to the powerful scale effect of its stablecoins, which injects continuous vitality and liquidity into DeFi protocols, forming a unique virtuous cycle of "stablecoin-DeFi." Whenever Tether (USDT) issues more tokens, the TVL on the TRON chain also synchronously increases. This "stablecoin-DeFi" symbiotic relationship is essentially a result of the resonance between technical efficiency and ecological prosperity.
According to DeFiLlama data, as of June 12, the total locked value (TVL) of crypto assets in DeFi applications on the TRON network has exceeded $5 billion, consistently ranking among the top five public chains globally. Behind this massive figure is a complex and efficient DeFi ecosystem, functioning like a precise financial machine, reshaping the liquidity patterns and value creation logic of crypto assets.
TRON has built a comprehensive and advanced DeFi ecosystem matrix for stablecoins, allowing stablecoins like USDT to circulate freely on-chain while maximizing returns. Its product system can be simply summarized as: through the mutual collaboration of DeFi applications, it has constructed a "three-layer progressive" value circulation system.
● At the basic circulation layer, the one-stop asset trading and issuance platform Sun.io supports USDT to be directly exchanged for hundreds of crypto assets; the cross-chain protocol BTTC connects mainstream networks like BNBChain and Ethereum with TRON, expanding the usage scenarios and circulation range of stablecoins.
● At the value-added application layer, the JustLend DAO lending protocol provides diverse pathways for asset appreciation of stablecoins, supporting USDT as a base asset to participate in staking, lending, liquidity mining, and other full-scenario applications, thereby improving asset utilization while generating returns.
● At the yield enhancement layer, the innovative RWA product stUSDT builds a bridge for users to access traditional financial yields, allowing users to deposit USDT to enjoy yields equivalent to U.S. Treasury bonds (annualized 4.5%+), merging the returns of digital assets with traditional high-quality assets; the decentralized stablecoin USDD supports direct 1:1 exchange with USDT, with zero fees and zero gas fees, and holding USDD allows participation in various DeFi staking yields.
Through the progressive layers of DeFi ecological applications, the TRON ecosystem not only serves as the preferred settlement network in the stablecoin sector but also provides circulation and appreciation space for stablecoins through a complete ecological system, offering users diversified choices while promoting the development of crypto finance.
Flagship of the DeFi Ecosystem Matrix: Comprehensive Trading Hub Sun.io, Lending JustLend DAO, Stablecoin USDD
1. Trading Hub SUN.io: Building a Diversified One-stop Asset Issuance and Trading Platform
SUN.io is the flagship DEX platform of the TRON ecosystem. According to DeFiLlama data, as of June 11, the value of crypto assets locked on the SUN.io platform (TVL) exceeded $991 million, consistently ranking among the top three in the TRON network and within the top six in the entire DEX sector.
As the trading hub of the TRON DeFi ecosystem, the Sun.io platform differs from DEXs like Uniswap that only support asset exchanges; it not only supports asset swapping and liquidity mining but also integrates stablecoin exchanges, meme asset issuance, and other functions, creating a "one-stop diversified asset issuance and trading service" encompassing "asset issuance-trading-appreciation."
Currently, the Sun.io product series includes several key components such as the mainstream DEX platform SunSwap, the stablecoin trading-focused SunCurve, the stablecoin anchoring mechanism PSM, and the meme asset issuance platform SunPump.
● SunSwap is the mainstream DEX on TRON, primarily providing asset exchange services and attracting a large number of users and assets due to its high liquidity and fast transaction confirmations. According to data from the SunScan official browser on June 11, over 110,000 transactions were processed on SunSwap in the past week, with more than 14,000 unique addresses participating, and a trading volume exceeding $800 million.
As of June 11, SunSwap has undergone three version upgrades: V1, V2, and V3, with the V3 version introducing a "dynamic fee model" that allows liquidity providers (LPs) to choose to provide funds within specific price ranges and set different fee rates for different price ranges to support the creation of corresponding token trading pools for tokens with varying risk levels. Currently, trading on SunSwap is primarily based on the V3 version.
● SunCurve focuses on stablecoin trading, operating similarly to "Curve," providing users with lower fees (only 0.04% of the transaction amount per transaction) and low slippage for stablecoin exchanges. Currently, SunCurve supports the mutual exchange of stablecoins such as USDD, USDT, TUSD, and USDC.
● lPSM (Peg Stability Module) is a stablecoin exchange swap tool specifically launched by TRON DAO Reserve (TDR) for the stablecoin USDD, supporting users to exchange USDD with USDT/USDC/TUSD at a fixed 1:1 ratio, providing an excellent trading experience with zero slippage and zero fees. It is also the main venue for exchanging USDD for stablecoins.
● SunPump is the fair issuance platform for meme assets launched by Sun.io, allowing users to create and issue their own meme coins with a single click.
From the product layout perspective, the three core products of the Sun.io platform—SunSwap, SunCurve, and SunPump—complement each other, collectively providing users with a convenient and comprehensive one-stop DeFi service experience, enabling users to perform asset trading, stablecoin exchanges, and asset issuance all within a single DeFi product without needing to switch between products, enhancing its value potential.
2. Innovative Representative: Meme Asset Issuance Platform SunPump
SunPump, as the latest product of the Sun.io ecosystem, is positioned as the first meme coin issuance platform within the TRON ecosystem, allowing users to create and issue their own exclusive meme coins with just one click, with a creation fee of approximately 20 TRX (about $5) for each issuance.
SunPump adopts a community-driven model with zero pre-mining and zero team reserves, introducing a fair launch mechanism that effectively prevents whale manipulation at launch, safeguarding the interests of a wide range of users.
With TRON's large user base, SunPump has experienced rapid growth since its launch in August 2024. In its first month, the platform set a record by issuing 7,351 meme coins in a single day, with daily earnings reaching $560,000. Its performance data once surpassed the leading PumpFun, becoming a rising star in the meme coin issuance sector and successfully incubating several new meme assets with market capitalizations exceeding $100 million, such as SunDog and SZN.
According to Dune data, as of June 11, the number of tokens created on the SunPump platform has exceeded 98,000, with over 1,800 tokens successfully graduating (launched on SunSwap), and the cumulative earnings captured have surpassed $10 million (calculated at the current TRX price of $0.275), making SunPump the preferred platform for meme token issuance and trading.
In terms of product innovation, SunPump is actively integrating AI technology to continuously expand its ecological boundaries. By the end of 2024, SunPump launched the AI Agent robot SunAgent; in March of this year, it introduced the AI tool SunGenX for the X platform, providing users with a more convenient way to generate meme coins, achieving "tweet to issue coins." Users only need to @Agent_SunGenX on the social platform X and attach token information (such as name, symbol, description, image) or a creative idea, and they can quickly and freely create and deploy meme coins to SunPump using AI technology. This innovative application not only offers users an intelligent interactive experience but also further highlights SunPump's leading position in the integration of blockchain and AI.
3. Lending JustLend DAO Creates Multiple Revenue Streams to Improve Capital Utilization
JustLend DAO is the first native lending protocol in the TRON ecosystem. As an evolving DeFi ecosystem, its business has expanded into various fields including collateralized lending, staking TRX (i.e., Staked TRX), energy rental, and supporting users in exploring various DeFi applications.
According to DeFiLlama data, as of June 11, the platform's locked crypto assets value reached $3.61 billion, with TVL consistently holding the top position among TRON network applications and ranking fourth in the entire decentralized lending sector.
● SBM: This is the largest lending market in the TRON ecosystem, allowing users to earn interest by providing idle funds and obtain leverage by borrowing other crypto assets through collateral. The main supported assets include TRX, sTRX, USDD, USDT, SUN, and more.
● Staked TRX (sTRX) is a TRX liquid staking product launched by JustLend DAO, which has become the preferred solution for users to stake TRX. Users can stake TRX to receive sTRX staking receipt tokens, and holding sTRX allows them to automatically capture node voting rewards and energy rental income on the TRON network. Additionally, sTRX can widely participate in various DeFi activities to earn returns, such as earning interest on deposits or providing liquidity, further enhancing asset utilization and yield levels.
As of June 11, the amount of TRX staked on Staked TRX has exceeded 8.1 billion, with a yield of 8.95%, valued at approximately $2.5 billion, and the number of participating addresses has reached over 4,500.
● Energy Rental: Energy rental is a unique energy leasing service created by the TRON network, designed based on the network's unique "Energy and Bandwidth" combination gas fee mechanism. Typically, transaction wallet addresses prioritize using energy and bandwidth to pay fees; if energy is insufficient, TRX tokens need to be consumed to make up the difference. The TRON network provides continuous energy output for users who stake TRX.
To more efficiently match the supply and demand of on-chain energy, the energy rental platform was born, becoming a distinctive ecological component of the TRON network. Through JustLend DAO's energy rental service, users can flexibly choose to rent energy by the occasion or duration according to their needs and use it to offset gas fee consumption, eliminating the need to burn TRX as gas fees, thus effectively reducing the cost of on-chain transactions.
For example, users only need to spend 7.297 TRX to rent 100,000 energy points (equivalent to the energy obtained from staking 9,529 TRX), sufficient to support about two transactions. This innovative feature not only improves the efficiency of network resource utilization but also opens up additional revenue channels for users who stake TRX. According to official data, as of June 11, the number of addresses participating in energy rental has exceeded 65,000.
Through a series of product matrices such as "collateralized lending, staking TRX (i.e., Staked TRX), and energy rental," JustLend DAO has built multiple routes for asset appreciation and earning returns, greatly enhancing capital utilization.
4. Decentralized Stablecoin USDD: The Stable Value Anchor of the TRON Ecosystem
USDD is a decentralized stablecoin within the TRON ecosystem that operates on an over-collateralization mechanism, maintaining a strict 1:1 peg to the US dollar. In January of this year, USDD announced an upgrade to version USDD 2.0, which introduced an optimized collateral mechanism and achieved a fully decentralized governance model compared to previous versions. Under the new governance framework, the community has absolute control over the minting mechanism, allowing users to deposit collateral according to their needs and customize the collateral ratio to mint new USDD, thereby enhancing decentralized governance and capital efficiency.
Currently, users can use various high-quality crypto assets such as TRX, sTRX, and USDT as collateral for over-collateralization to mint USDD.
To encourage user participation in minting, USDD has launched a series of incentive policies for minting fees and returns. On May 15, USDD launched a month-long promotional event for minting fees. During the event, the stable fee for TRX-A, TRX-B, and TRX-C vaults (different vaults correspond to different collateral ratios and minting fees) was uniformly reduced to 0.5%, while the stable fee for the sTRX-A vault was also adjusted from 3% to 1%. The event will end on June 15, at which point the minting fees for USDD will return to regular levels.
In addition, the previously mentioned Sun.io stablecoin tool PSM provides USDD with seamless, zero-fee exchange services. Users can use the PSM tool to exchange USDD with stablecoins like USDT with zero slippage and zero fees.
Currently, USDD has been deeply integrated into multiple DeFi applications within the TRON ecosystem, allowing easy participation in a broader range of DeFi activities such as lending, staking, and trading to earn more returns. On May 24, USDD 2.0 launched the fifth phase of the USDD 20% staking event, providing users with the opportunity to earn high returns using USDD. The event will cover JustLend DAO DeFi protocol and exchanges such as HTX and KUCOIN, with rewards fully subsidized by TronDAO.
The article "Real Test Annualized Over 20%, Unlocking the Wealth Code of TRX 'One Fish Multiple Eats'" detailed the "sTRX+USDD" gold mine combination strategy. Specifically, users can stake TRX to obtain sTRX, then use sTRX to mint USDD, and finally deposit the minted USDD into the JustLend DAO platform, with comprehensive returns reaching over 15%, providing users with diversified earning paths.
As of June 12, the issuance of USDD has exceeded $437 million, with a TVL of approximately $4.75 billion within the protocol. Since its launch on April 25, the sTRX Vault has seen its total locked value (TVL) grow to approximately $6.4 million in just over a month, showcasing the strong growth momentum of the USDD ecosystem.
TRON Ecosystem: Reinforcing the "Stablecoin King" Position and Reshaping Asset Aggregation Logic
TRON's comprehensive layout and in-depth exploration in the DeFi field demonstrate its firm determination to build a diversified, efficient, stable, and high-yield multi-layered DeFi ecosystem.
In the TRON ecosystem, mainstream DeFi products such as Sun.io, SunPump, JustLend DAO, and USDD form a powerful and orderly matrix. They function like a fully equipped financial toolbox, covering all aspects from asset issuance and trading circulation to lending services, asset yield enhancement, and stablecoin innovation, as well as meme coin asset coverage. This creates a one-stop on-chain financial super market for users, where they can easily meet various financial needs. These products collaborate and coordinate closely, forming an interconnected organic whole that provides users with a rich variety of earning options and convenient, comprehensive financial services, undoubtedly serving as the key infrastructure driving the prosperity of the TRON ecosystem.
From this series of layouts, it is evident that the title of "Stablecoin King" is just the tip of the iceberg of TRON's glorious achievements, with a precise and powerful DeFi ecological facility hidden behind it, functioning like an efficiently operating engine that drives the circulation and appreciation of assets. TRON is steadily building a new asset aggregation logic based on stablecoins, leveraging its significant advantages of low cost and high efficiency, leading the development trend in the DeFi field.
On June 9, the new SEC Chairman Paul Atkins released positive regulatory signals for DeFi, revealing plans to study and formulate an "innovation exemption" policy for DeFi platforms. This move acts as a shot in the arm for the development of the DeFi industry, giving the entire sector a glimpse of a more relaxed and friendly regulatory environment, bringing new hope for the industry's vigorous growth.
Yesterday (June 11), TRON founder Justin Sun reposted related content on the X platform with the caption "DeFi first." This content was interpreted by the community as Justin Sun hinting at TRON's strategic layout of "DeFi priority." This strategy may further promote the development of the TRON DeFi ecosystem.
On the same day, Justin Sun announced on the X platform that the USD1 stablecoin supported by the Trump family WLFI has successfully begun minting on the TRON network. This news undoubtedly adds new momentum to the development of the TRON network.
In summary, while reinforcing its position as the "king of stablecoin settlement," the TRON ecosystem is also reshaping the new logic of crypto asset aggregation.
While seizing the "stablecoin throne" with its strong advantages of low cost and high efficiency, it is also actively expanding and laying out new stablecoins such as USDD 2.0 and USD1, continuously strengthening its competitive moat in the market. At the same time, through the DeFi ecosystem matrix products like Sun.io—JustLend (sTRX)—USDD, it has built a solid chain of asset circulation and yield.
In the crypto industry, TRON has established a new value coordinate system, in which stablecoins valued at approximately $80 billion flow continuously on-chain, and its DeFi ecosystem can leverage hundreds of billions of dollars in crypto asset growth space at any time, with unlimited possibilities for the future.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
