New York, New York–(Newsfile Corp. – September 8, 2021) – Since 2020, TRON has been increasing its investment in building DeFi to enhance its leading position further and to achieve its founding aspiration, which is to deliver the benefits of a thriving ecosystem to its users. As a gesture of support, TRON founder and BitTorrent CEO Justin Sun invested a total of $450 million to reward DeFi miners, underlining his determination to pull out all the stops to grow the DeFi ecosystem.
Today, let’s recap on the milestones in Justin Sun’s heavy investment in TRON’s DeFi ecosystem!
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I. TRON 1.0 era: DeFi ecosystem took shape with SUN going viral
On September 2, 2020, Genesis Mining of SUN, a token known as “the Bitcoin in the TRON ecosystem”, was launched. SUN is positioned to be an integral part of TRON’s DeFi ecosystem, covering decentralized lending, insurance, liquidity, stablecoins, and other services. Meanwhile, running on the virtual machine of TRON’s public chain based on smart contracts, SUN tokens are highly interconnected with DeFi projects.
TRON’s DeFi ecosystem has unarguably more significant potential than Ethereum, plagued by network congestion and high gas fees. To some extent, the launch of SUN marks the migration of the booming DeFi liquidity mining movement from Ethereum to TRON.
II. TRON 2.0 era: Century Mining was all the rage, boosting the interconnectivity in the TRON ecosystem
TRON has successfully created a new round of hype around mining since it shipped Century Mining. This campaign also saw an active engagement of many projects, including BTCST, the star project of Binance Launchpool, and APENFT, which is committed to registering world-class artworks as NFTs on blockchains. After launching liquidity mining, they garnered significant attention from the market with juicy mining rewards and optimal experience.
TRON’s Century Mining consisted of three phases, lasting from March 8, 2021, to June 7, 2021. This DeFi mining campaign boasts the most incredible input, the highest rewards, and the most comprehensive coverage in the industry. A total of $70 million prizes were distributed in TRX, WBTT, WIN, JST, SUNOLD, etc.
Over three mining rounds, TRON Century Mining has achieved a record-high TVL of over $5.8 billion, which accounts for over 40% of the total TVL of TRON’s DeFi projects.
III. TRON 3.0 Era: With multiple quality mining projects running in parallel, TRON’s comprehensive DeFi ecosystem is taking shape
As TRON’s Century Mining draws to a perfect end, SUN platform undergoes a token redenomination and platform upgrade and commits itself to be TRON’s first one-stop platform featuring stablecoin swap, token mining, and self-governance. Justin Sun dedicated 5 billion SUN tokens to mining participants and veCRV holders. Lasting for five years, the unprecedented reward is designed to deliver tangible benefits of TRON’s ecosystem growth to all participants.
In the meantime, to maintain diversity in TRON’s DeFi ecosystem, continue providing DeFi mining opportunities with low entry barriers and generous returns, and meet users’ demand for a premium mining platform, TRON Foundation has launched mining on lending platform JustLend and LP liquidity mining on JustSwap. Now, the fourth round is in full swing.
Stats from TRONSCAN, a blockchain browser, show that the total value locked on TRON at one point exceeded $10.9 billion! As a premium public chain that strikes a better balance between performance, security, ecosystem, and other aspects, TRON has built a closed-loop of the DeFi ecosystem and has become a mainstream DeFi protocol in the industry.
It’s clear that since TRON started to commit full efforts to build its DeFi ecosystem, its DeFi is growing with strong momentum, connecting its lending, staking, fund management, trading, liquidity, and stablecoin operations into an ecosystem-wide industry chain.
As the industry moves forward, TRON, under the leadership of Justin, is set to take firm steps and will see another round of blossom shortly. Let’s stay tuned!
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95849