• TRON is the third largest DeFi platform, trailing only Binance Chain

  • In terms of total value locked, TRON is now the third largest blockchain for decentralized finance (DeFi) protocols (TVL). TRON has risen to second place, trailing only Binance Chain (BSC), and has surpassed other projects such as Avalanche, Solana, and Polygon, which are ranked fourth, fifth, and sixth, respectively.

    According to data from analytics tool DeFi Llama, eight projects on TRON have locked in over $4.29 billion in value. With staked governance assets included, the total value locked in the TRON ecosystem is slightly higher at $4.3 billion.

    JustLend (JST) holds 42.06 percent of the market with $1.81 billion in total value locked. Currently, SUNSwap and SUN.io account for $979.8 million and $246.97 million of the total value locked, respectively.

    With $50.05 billion, Ethereum retains the DeFi crown, followed by BSC (BNB), which currently has $7.19 billion in total value locked. Terra, which had previously ranked second in terms of TVL, had dropped as low as 33rd following the collapse of its ecosystem. Billions of dollars have been transferred out of the Terra ecosystem in the two weeks since the TerraUSD (UST) lost its peg, resulting in significant investor losses.

    At press time, the total locked value of funds held in Terra-based decentralized finance (DeFi) applications had dropped to $122 million, down from more than $29 billion at the start of the month.

    For financial services such as lending, trading, and borrowing, DeFi projects use smart contracts rather than middlemen. The total value locked (TVL) refers to the total value of crypto assets deposited into a DeFi protocol. It also refers to the current value of cryptocurrencies held in a cryptocurrency liquidity pool. This metric measures the overall health of the DeFi and yielding markets.

    TRON, the blockchain founded in 2017 by entrepreneur Justin Sun to compete with Ethereum, launched its algorithmic stablecoin, decentralized USD (USDD), in early May. A pre-programmed, or “algorithmic,” incentive mechanism ties algorithmic stablecoins to the US dollar.

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