A Comprehensive Analysis of the TRON DeFi Ecosystem

TRON has firmly established itself as a core player among mainstream public chains, thanks to its comprehensive ecosystem, active user community, and substantial asset scale.

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

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

Behind these impressive figures lies not only a solid user base and strong asset strength of TRON, but also a powerful testament to its ecological prosperity.

The “three drivers” of data growth: approximately 200,000 new addresses daily, asset volume exceeding one trillion, and a rich variety of ecological protocols.

In the past year, data on the TRON blockchain has shown explosive growth, and the ecosystem’s vitality is at its peak. “Over 200,000 new addresses added daily, on-chain circulating assets exceeding trillions in scale, and a diverse range of ecological protocols” are the “three driving forces” behind the data growth of TRON. A series of impressive data results demonstrate TRON’s strong development potential and leading market competitiveness.

In terms of user scale and growth, the TRON network’s user base is steadily expanding, with both the total number of on-chain accounts and new addresses maintaining a strong growth momentum, making the user base increasingly solid. According to data from the TRONScan browser, as of June 13, the total number of on-chain accounts has exceeded 313 million, with more than 200,000 new addresses added daily, over 8.67 million transactions occurring on-chain each day, and a total asset transfer value reaching as high as $25 billion daily.

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

In terms of transaction data processing, the TRON network also performs exceptionally well, with on-chain transactions being extremely active, reaching millions to over a hundred million transactions daily. Over the past 30 days, the average daily total transfer value on-chain has remained above 23 billion USD. Such a large scale and high-frequency transaction data not only demonstrates the TRON network’s strong capability in capital flow but also reflects its relatively stable and secure characteristics.

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

According to the TRONScan browser, as of June 13, the total value of assets in circulation (TVC) in the TRON network was approximately US$1,155 trillion, a significant increase of 40% from US$82 billion in the same period last year. Among them, the top three assets in circulation value in the TRON network are USDT (about $78.8 billion), TRX (about $25.9 billion), and WBT (about $2.66 billion), followed by BTC and ETH. In addition, there are WBT, HTX, USDD, BTT, NFT, TUSD and other TRON ecological project assets, covering a wide range of fields, jointly building a rich and multi-level value system and becoming more diversified.

Regarding network activity, one can see a glimpse from the Gas fee consumption situation. 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 fee to pay costs when performing operations such as transfers and withdrawals.

The official browser data shows that over the past year, energy consumption surged from an initial 80 billion to 190 billion, an increase of 240%. This soaring data not only intuitively demonstrates the explosive growth in network transaction activity but also indirectly confirms the strong positive correlation between energy consumption and users’ real transaction demands. Higher energy demand indicates 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 perspective of energy consumption account distribution, 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 the TRON network and the huge demand for it, highlighting the TRON network’s outstanding performance in supporting large-scale commercial applications and its key strategic position as the underlying infrastructure for major exchanges, becoming a bridge connecting digital asset trading and Web3 technology.

In terms of ecological development, the TRON ecosystem applications have covered the trading hub SUN.io, and the MEME asset issuance platform SunPump, the lending system JustLend DAO launched by the one-stop DeFi solution JUST, the liquidity staking protocol Staked TRX, and the energy leasing platform, as well as the stablecoin USDD and other core protocols and products, collectively 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 for nearly a year. Among them, the TVL for staking TRX has surpassed $11.8 billion, accounting for the largest share; the lending JustLend DAO TVL is about $5.5 billion, ranking second; the cross-chain Just Cryptos TVL is $3.3 billion; the trading platform SUN.io TVL is $700 million; and the stablecoin USDD TVL is $458 million. These data fully demonstrate the prosperity and vitality of the TRON ecosystem, indicating its broad development prospects in the future.

An overview of mainstream DApps within the TRON ecosystem

1. JUST One-stop DeFi Solution

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

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

● JustLendDAO is the first official lending platform on TRON, where users can not only conduct collateralized lending but also deposit idle assets 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 liquidity staking product based on TRON, providing users with higher yield returns while offering more flexible unstaking options. This allows users to enjoy staking rewards while being able to adjust their asset allocation flexibly according to their own needs.

● Energy Rental is a unique energy leasing platform within the TRON ecosystem, providing energy leasing services for different addresses. By leasing energy, on-chain transaction users do not need to directly consume TRX to exchange for resources, similar to using an “energy coupon.” This can significantly reduce the cost of transaction fees (Gas) and improve capital utilization efficiency, making transactions more economical.

● JustCrypto is a cross-chain token supported by the JUST ecosystem, enabling cross-chain assets such as BTC, ETH, DOGE, LTC, etc., to maintain price stability across different networks. Its cross-chain mechanism is provided by high-quality platforms like 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 income; at the same time, they can borrow other crypto assets, skillfully utilizing leverage to amplify investment returns. The lending and borrowing parties operate automatically based on smart contracts, and the system will automatically set floating interest rates through algorithms according to the supply and demand conditions of specific assets on JustLend DAO, ensuring the dynamic balance and rationality of assets.

Currently, the JustLend platform mainly supports lending assets including TRX, USDT, USDD, SUN, JST, BTC, ETH, TUSD, BTT, etc.

According to DeFiLama data, on June 16, the TVL on the JustLend platform reached approximately $3.4 billion, ranking among the top three in the entire lending track 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 way to staking. Users can exchange TRX staking for sTRX with just one click. The staked TRX platform will be used for voting governance and energy leasing, and users can easily earn staking rewards just by holding sTRX. As of June 16, the number of TRX staked on the platform has reached 8.166 billion, and the number of addresses participating in the staking has exceeded 4,600, with a current annualized return of 8.67%.

However, according to TRONScan on-chain data, as of June 16, the number of TRX holding addresses has exceeded 182 million, with a market value of over 25.6 billion USD, indicating a significantly 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 for users, allowing them to directly rent energy to offset Gas fee consumption without the need to burn TRX as Gas fee. This feature helps users save on on-chain transaction costs. Data analysis from the TRON blockchain shows that the number of user wallet addresses and transaction frequency are steadily increasing, and the energy rental function can better serve TRON ecosystem users. Data from June 16 shows that the JustLendDAO platform has 37 billion energy available for users to rent, with over 65,000 addresses having participated in energy rental, reflecting the popularity of the energy rental feature.

In addition, at present, users on the JustLend DAO platform, in addition to earning interest by providing assets, can also earn additional reward income by storing USDD. USDD is a decentralized stablecoin co-sponsored by GrantsDAO, a sub-DAO of JustLend DAO, and TRON DAO Reserve. In January this year, USDD was upgraded to USDD 2.0. At the same time, JustLendDAO launched the USDD lending service function, and users can earn income by storing USDD, and the current income is about 6%. As of June 16, the pool had a whopping 264 million USDD.

Three, Decentralized Stablecoin USDD

USDD is a decentralized stablecoin based on TRON TORN. Currently, users can obtain USDD in two ways. First, by over-collateralizing premium assets such as “TRX, sTRX, USDT” to mint USDD; second, through the stablecoin exchange tool PSM, directly using USDT to exchange for USDD at a 1:1 ratio, with the entire process incurring 0 GAS fees and 0 transaction fees.

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 also established close partnerships with compliant exchanges like Kraken, HTX, Bybit, Gate, and Poloniex. On these platforms, users can stake USDD to earn high yields. This extensive ecosystem integration provides a broad 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 asset exchange, Meme asset issuance, liquidity mining, and DAO governance functions, aimed at providing efficient and secure asset trading services for the TRON ecosystem.

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

● SunSwap (Trading Core Engine): It is a trading platform based on the AMM mechanism, which has undergone upgrades through three versions: V1, V2, and V3. Currently, trading mainly occurs in the V3 section.

● SunCurve and PSM primarily focus on stablecoin asset trading. PSM is a stablecoin exchange Swap tool specially launched for the stablecoin USDD, supporting users to exchange USDD with stablecoins such as USDT/USDC/TUSD at a fixed 1:1 ratio, with 0 slippage and 0 fees.

● SunPump is the latest product launched by Sun.io, positioned as the first platform dedicated to the fair launch of meme coins in 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, which is the core mechanism of liquidity incentives.

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

From a data perspective, SUN.io has performed exceptionally well. According to data from DeFiLlama, on June 16th, the total value locked (TVL) of the crypto assets on the SUN.io platform exceeded $952 million, placing it among the top three on the TRON network for a long time and ranking sixth across the entire DEX sector.

At the same time, according to data from the SunScan official browser, the trading activity of SUN.io is also impressive. In the past 7 days, SunSwap has handled approximately 120,000 transactions, with a trading volume exceeding 770 million dollars. In the past week, the number of active trading addresses on the platform has exceeded 15,000, and the current cumulative number of trading liquidity pools has surpassed 25,000, covering a wide range of asset structures from stablecoin assets, mainstream assets to Meme long-tail assets, forming a diversified and inclusive financial ecosystem.

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

5. MEME Asset Fair Distribution Platform SunPump

SunPump is a fair issuance platform for MEME assets carefully created by Sun.io. Relying on the powerful technological infrastructure and large user base of TRON, SunPump quickly gained popularity after its debut in August 2024, consistently ranking among the top three in the fiercely competitive MEME issuance arena.

In the first month of its launch, SunPump demonstrated astonishing explosive power, issuing an incredible record of 7,351 Memes in a single day, with daily earnings reaching as high as $560,000. Its performance even temporarily surpassed 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 accumulated earnings have surpassed 10 million USD. This series of impressive data is undoubtedly a strong testament to the vigorous development of the SunPump platform.

In terms of ecological performance, there are currently 4 MEME tokens with a market value of over 10 million USD, such as SUNdog, PePe, etc.

At the product functionality level, the SunPump platform has continuously iterated and upgraded around three core pillars: 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 provides real-time rankings of tokens based on key indicators such as trading volume and number of holders, offering users a clear investment reference), and CEX Listing Apply (which allows project parties to submit applications for centralized exchange listings directly through SunPump, broadening channels for project development). These enhancements not only greatly improve the user experience but also further expand the ecological boundaries of the platform, making it a more complete and diverse ecosystem for MEME asset issuance and trading.

In terms of product innovation, SunPump is even more proactive and daring to break through. Last year, 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 the AI Agent @SunGenX, supporting the lightweight token creation feature of “Issuing tokens with a tweet”. Users only need a single tweet to easily complete the issuance of MEME tokens, greatly simplifying the token issuance process.

Conclusion

Today, TRON has occupied a pivotal position in the public blockchain track, and the ecological data shows a strong trend of continuous growth, which is the result of multiple factors working together and driving progress.

The outstanding achievements of TRON in three key areas: user scale, asset volume, and ecological protocol development, have formed the “three driving forces” that propel its ecosystem to flourish, leading TRON to race forward in the crypto track with unstoppable momentum.

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

Looking to the future, TRON is expected to continue writing a brilliant chapter in the cryptocurrency market with its deep technological foundation, large user base, and strong ecological synergy, creating a more open, efficient, transparent, and inclusive financial ecosystem for global users, and truly becoming the key infrastructure that drives decentralized finance, illuminating every corner of the world.