- Tron has positioned itself as the third blockchain in the market with the highest TVL within the decentralized finance protocols better known as DeFi. with $5.98 billion dollars.
- The growth of Tron has been related to the growth of the JustLend application, an application in which $48.19% of the total Tron held in DeFi is hosted.
With the increasing popularity of digital assets, more and more people have considered this type of digital money as another and perhaps even more feasible option than traditional means such as banks and cash.
The growing demand for these products has also made related items like them grow thanks to a greater flow of investment. One of these services, perhaps the most important, is the block chain, a system on which the operations of practically all cryptocurrencies and between existing ones are based.
Just inside the blockchain, he recently highlighted Tron, platform that has the purpose of exchanging free and decentralized content generated by its own users.
Tron ranks third largest in terms of TVL
The reason it stood out from its competitors is because Tron managed to place itself in the third position of the largest networks in terms of total value locked (TVL) within the decentralized finance protocols better known as DeFi.
Last week, Tron’s DeFi TVL recorded a 13.73 percent growth, which has accumulated a growth of 45.22% during the month of May. Part of this growth has been related to the growth of JustLend protocol in which since May 21 $1.08 billion was added causing the TVL of the protocol to increase by 58% since then.
The relationship between JustLend and Tron is that 48.19 percent of the total Tron held in DeFi is hosted on this app. JustLend currently has a total locked value of $2.91 billion.
JustLend which allows users to enjoy a financial lending system based on stablecoins, and provides more than 23.55 percent annual percentage yield (APY) for deposits in the Tron stablecoin, USDD, stablecoin that with a month in the market has managed to rank ninth among the largest stablecoins in existence today.
Other important services for the Tron blockchain are Sunswap and Juststables, with the former having just under $1 billion in total value locked, while the latter has a TVL balance of $1.41 billion.
USDD under criticism and the gaze of the crypto environment
Although heThe stable currency USDD has only been on the market for a few days, it already has a large amount of detractors, who consider that this token has no future and will simply be one more among the existing sea.
In this regard, Bennett Tomlin, a prominent data scientist and consultant at Pharmacy Investigators & Consultants, has gone a little further than the general criticism the coin has received, noting that USDD is not even an algorithmic fiat token concept.
“What I can point out about USDD is that it is simply not a full-fledged algorithmic stablecoin, simply because the only thing TRD members can do with it is burn TRX for USDD. However, so far I have not been aware of any other contract that allows going the other way, and no algorithm that adjusts any of the mechanisms, except that the minting depends on the price of the TRX oracle.” he pointed Tomlin.
However, despite the sea of criticism and accusations, Tron has come out so far, well rid of all those questions, placing itself as one of the main contenders in the world of decentralized finance.
However, in the world of finance nothing is set in stone, so time will tell if the good streak continues, or becomes something that no one will remember.
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