The high-performance blockchain TRON passed a number of milestones in May
- USDD, Tron’s Decentralized Stablecoin, Reaches Crucial Milestones in May
- TRON DAO Launches Hackathon, Showcases $10 Million Ecosystem Program
Despite the dramatic fall in cryptocurrency markets in May 2022, the TRON ecosystem has made massive progress on its multiple products as well as advancements in marketing and community development.
USDD, Tron’s Decentralized Stablecoin, Reaches Crucial Milestones in May
According to the statement shared by TRONDAO representatives, in May 2022, its ecosystem – including the blockchain itself, the decentralized stablecoin USDD, and the Tron-centric development community – saw a number of achievements.
— HE Justin Sun ???? (@justinsuntron) June 1, 2022
First, its decentralized stablecoin USDD saw its market capitalization skyrocket and become one of CoinMarketCap’s top 100 digital assets by market capitalization in just 16 days after its launch.
Currently, its aggregate market capitalization is approaching $670 million; the minting of this massive sum was accompanied by the burning of over 8 billion TRX.
USDD stablecoin has already been listed on a number of leading centralized and decentralized cryptocurrency exchanges including JustLend, SunSwap, PancakeSwap, Ellipsis, Uniswap, Curve, Poloniex, Huobi Global, KuCoin, Gate.io, LBank, Bibox, Bitget Global and KyberSwap.
Tier 1 exchange ByBit even accompanied the USDD listing with a special event with a prize pool of 400,000 USDD. Additionally, over $125 million in USDD equivalent is already locked in liquidity mining instruments.
TRON DAO Launches Hackathon, Showcases $10 Million Ecosystem Program
Apart from USDD, the Tron ecosystem has passed significant milestones in terms of adoption and technical development. After the collapse of Terra (LUNA), it ranks third among all public smart contract platforms in total value locked (TVL) at $6.17 billion.
Tronics (TRX), the main native cryptocurrency of Tron, has overtaken AVAX and is now the 13th largest asset by market capitalization. On May 29, 2022, Tron became the most popular blockchain by number of active accounts.
HE Justin Sun, Founder of TRON, invites all crypto enthusiasts to join the second Tron Hackathon:
TRON’s meteoric rise among the top three global public channels by TVL can be attributed to its continued efforts to foster growth across the ecosystem. USDD has reached 667 million in circulation, TRON Grand Hackathon 2022 Season 2 is underway with top partners and judges from across the industry, and there is explosive growth across the board of the ecosystem. Ever since becoming a DAO, the TRON community has been BUIDLing nonstop!
Additionally, TRON DAO announced the launch of a $10 million incentive fund program for projects ready to migrate from other chains to Tron.