High-Performance Blockchain TRON Breaks Several Milestones in May
- USDD, Tron’s Decentralized Stablecoin, Achieves Significant Milestone in May
- TRON DAO Launches Hackathon, Offers $10 Million Ecosystem Program
Despite the dramatic drop in the cryptocurrency markets in May 2022, TRON’s ecosystem achieved massive progress on many of its products as well as marketing and community development progress.
USDD, Tron’s Decentralized Stablecoin, Achieves Significant Milestone in May
According to a statement shared by TRON DAO representatives, in May 2022, its ecosystem – which includes the blockchain itself, the decentralized stablecoin USDD and the Tron-focused development community – has made several achievements.
First and foremost, its decentralized stablecoin USDD saw its capitalization rocket and crack into CoinMarketCap’s top 100 digital assets by market capitalization in just 16 days after launch.
Currently, its total market capitalization is close to $670 million; This huge amount was mined with over 8 billion TRX burned.
The USDD stablecoin is already listed on several top-level centralized and decentralized cryptocurrency exchanges, including JustLend, SunSwap, PancakeSwap, Ellipsis, Uniswap, Curve, Poloniex, Huobi Global, KuCoin, Gate.io, LBank, Bibox, Are included. Bitgate Global and KyberSwap.
Tier 1 exchange ByBit held a special event listing USDD with a prize pool of 400,000 USDD. In addition, more than $125 million worth of USDD is already locked in liquidity mining equipment.
TRON DAO Launches Hackathon, Offers $10 Million Ecosystem Program
Apart from USDD, the Tron ecosystem has achieved major milestones in terms of adoption and technology development. After the collapse of Terra (LUNA), it ranks third among all public smart contract platforms by total value locked (TVL) of $6.17 billion.
Tronix (TRX), Tron’s native native cryptocurrency, surpassed AVAX and is now the 13th asset by market capitalization. Tron became the most popular blockchain in terms of number of active accounts on May 29, 2022.
TRON founder HE Justin Sun invites all crypto enthusiasts to join the second Tron hackathon:
TRON’s meteoric rise to the top three public chains in the world by TVL can be attributed to its relentless efforts to fuel growth across the ecosystem. USDD has reached 667 million in circulation, Season 2 of the TRON Grand Hackathon 2022 is underway with key partners and judges from across the industry, and the entire ecosystem is witnessing explosive growth. Since the creation of the DAO, the TRON community has been BUIDLing!
In addition, the TRON DAO announced the launch of a $10 million incentive fund program for projects that are ready to move from other chains to Tron.