In this article work, I'll discuss
- Ecosystem overview
- Defi Category breakdown
- Defi protocols overview
- Final thought (Conclusion)
Tron Ecosystem Overview
TRON is a blockchain designed to build a truly decentralized internet and aims to be the largest blockchain-based operating system in the world, known as the TRON protocol.
The TRON protocol offers high scalability, high availability, and high throughput computing to secure decentralized applications via smart contract.
The Ethereum EVM-based smart contract is compatible and deployable on the TRON network. The high throughput for transaction does not rely on proof of work or mining, instead, it’s governed by nodes located around the world.
The TRON Defi ecosystem has a TVL of over $5.52b, consisting of 14 protocols with the following categories
- Dexes: Protocols where users can swap/trade cryptocurrency
- CDP: collateralized debt position protocol that mints its stablecoin
- Lending: protocols that allow users to lend & borrow assets
- Liquid staking: a protocol that enables users to stake assets via a third party, while the protocol also provides a tradable & liquid receipt for the asset.
- Privacy: protocol to hide transactions
- Stake pool: protocols that allow users to stake their assets on natural Blockchains to help secure the network and earn rewards
Tron Defi Category Breakdown
- Dexes protocols: There are over 6 protocols integrated & some deployed on the TRON network. The six (6) of them are social swap, UniFi, Oneswap, PAIDSWIFT, Luminous Finance and. Just money
- Liquid staking Protocols: There are about 2 Liquid protocols INEOPIN Staking and STRX Finance.
Tron Defi Protocols Overview
- JustLend: JustLend is TRON pioneered money market protocol aimed at establishing fund pools whose interest rates are determined by an algorithm that is based on the supply and demand of the TRON assets
On JustLend, each money market corresponds to a unique TRON asset such as TRX, TRC-20 stablecoin (e g USDT), or other TRC-based tokens that entails an open and transparent ledger that records all transactions and historical details. JustLend has a TVL of $3.85b
- Just Stables: This is a protocol for managing CDP and (USDJ) offering an entrance into decentralized finance. TRX is the native asset of TRON, users can deposit TRX to mint an equivalent amount of WTRX and users can buy WTRX to get an equivalent amount of TRX
- Social Swap: This is a decentralized applications exchange protocol built on the Tron blockchain. Its features include low transaction cost, safe smart contract audited, fast blockchain protocol, limited order protocol functionalities.
The protocol has its number of token holders be 6896, with a total value locked at $ 4 billion.
It also offers staking pools for a few assets such as SST locked pool with an APR of 77%, TRON/SST locked pool with up to 45% APR, USDT/SST locked pool with up to 37% APR
- STRX Finance: STRX finance aims to provide a transparent and secure staking protocol on the TRON blockchain. The protocol offers a liquid staking model that allows users to stake and unstack their assets, without any restriction.
The benefit of using STRX finance include; earning Hugh yield on your staked asset, and the protocol liquid staking models allowing users to easily participate in the Defi ecosystem.
Final thoughts (Conclusion)
Tron is an exciting blockchain project that adds up to the value of TVL in Defi.
The most exciting protocols among them are STRX finance (liquid staking) which offers high yields and it's a smart contract that is sufficiently audited.
One other exciting project on the Tron network is social swap, a decentralized exchange network that offers two product services, the swapping of tokens and staking services.
The staking pools for social swap offer high APY
