After Successfully Launching USDD, TRON Potentially Overtakes BNB Based On TVL

Stablecoin Tron USDD. (foto: TronSparks)

JAKARTA – After launching the DecentralizedUSD (USDD) stablecoin, TRON is experiencing significant growth in its decentralized finance (DeFi) ecosystem, according to DefiLlama data.

TRON currently ranks as the third largest blockchain in terms of its total locked value or TVL. According to TVL, TRON is only slightly adrift of the number two DeFi number after Ethereum, namely Binance Chain.

TVL TRON worth 5.8 billion US dollars. This amount is close to the TVL Binance Chain which amounted to 6.9 billion US dollars. Even so, TRON remains one of the blockchains that experienced a 41.33 percent increase in the total locked value.

As a result of Terra's recent collapse, the DeFi sector has lost around $90 billion in liquidity since last month. Meanwhile, TRON's DeFi experienced a 33.23 percent increase in the past week following the launch of the USDD algorithmic stablecoin. Now TVL TRON surpasses leading first-tier networks such as Solana and Avalanche.

The official USDD Twitter account announced on May 28 that the total supply of USDD had reached 600 million in its first month of operation. Justin Sun, founder of TRON, leaked his big announcement for USDD in the coming week amid recent gains.

As reported by U.Today, prior to the Terra crisis, the success of UST encouraged newcomers to explore stablecoins in the crypto market. TRON released the USDD stablecoin on May 5 and has since managed to catch the attention of the industry.

Stablecoins are meant to reward arbitrageurs to keep their prices pegged to the US dollar by trading TRX and USDD. In this case the USDD token is in the same position as TerraUSD (UST).

USDD is currently ranked 73rd in terms of market cap, according to CoinMarketCap data, with a market cap of US$603 million. As a result of the collapse of TerraUSD (UST), stablecoins are currently in the center of attention from regulators of various countries.