The total value locked in the TRON ecosystem is a little over $4.3 billion
TRON is now the third largest blockchain for the Decentralized Finance (DeFi) protocol in terms of Total Value Locked (TVL). TRON, which is now behind Binance Chain (BSC), has overtaken other projects such as Avalanche, Solana and Polygon, which are ranked fourth, fifth and sixth respectively.
On TRON, eight projects are valued at more than $4.29 billion, according to data from analytics tool DeFi Lama. With the inclusion of staked governance assets, the total value locked in the TRON ecosystem is a little over $4.3 billion.
️Excited to announce this #just land TVL is breaking $2.1 billion!
Deposit value over $2.1 billion
Stake value of more than $74 thousand votes
The value of liquidity mining exceeds 113 thousand dollars
Supply now and get high reverse securely https://t.co/2GyoCiftGN pic.twitter.com/SVyYlQFG5w— JUST FOUNDATION (@DeFi_JUST) 16 May 2022
Just Lend (JST) This accounts for 42.06% dominance with $1.81 billion in total value locked. SUNSwap and SUN.io currently account for $979.8 million and $246.97 million of the total value locked.
Ethereum retains the DeFi crown with $50.05 billion, followed by BSC (BNB), which currently has $7.19 billion in total value locked in. Terra, which previously ranked second in terms of TVL, dropped to 33rd place following the collapse of its ecosystem. Billions of dollars exited the Terra ecosystem in the two weeks since TeraUSD (UST) lost its peg, causing significant losses to investors.
Funds held in decentralized finance (DeFi) applications built on Terra have fallen to $122 million in total locked value at press time, up from $29 billion at the start of the month.
DeFi projects rely on smart contracts rather than intermediaries for financial services such as lending, trading and lending. Total Value Lock (TVL) refers to the overall value of crypto assets deposited in a decentralized finance (DeFi) protocol. It also refers to the current value of cryptocurrencies held in a crypto liquidity pool. This metric is used to measure the overall health of DeFi and produce markets.
TRON, the blockchain founded by entrepreneur Justin Sun in 2017 to compete with Ethereum, released its algorithmic stablecoin called decentralized USD (USDD) in early May. Algorithmic stablecoins are pegged to the US dollar by a pre-programmed, or “algorithmic,” incentive mechanism.