Geneva, Switzerland, November 7, 2022, Chainwire

mesarithe leading provider of crypto market intelligence, published two quarterly analysis reports related to the TRON ecosystem – Status of TRON Q3 2022 Y USDD Status Q3 2022. The two biggest highlights when comparing Q3 to Q2 2022 were the 480.4% increase in the number of USDD holders and the 71% increase in total TRX value locked. Both reports indicated positive conclusions about the stability and safe strength of USDD and the TRON network as a whole.

USDD Status

The USDD report marked the first time Messari provided market intelligence in a quarterly report on the overcollateralized stablecoin issued by the TRON DAO Reserve (TDR). USDD is backed by select crypto assets including BTC, USDT, USDC and TRX. The USDD Status report includes information on performance, issuance, deposits, reserve balance, user adoption, transactions, price analysis, and total value locked. Readers can also get qualitative analysis on topics such as monetary policy and the parity stability module (PSM).

Key insights from the USDD Report include:

• After rapid adoption in Q2 2022, supply growth stalled in Q3 2022, rising just 0.2% to 725 million.
• However, the number of wallets with the coin increased almost 5 times in the third quarter of 2022.
• The stablecoin remains well supported by non-native currencies with a collateral ratio of 1.9 at the end of the quarter.
• After the collapse of UST and de-pegging from the stablecoin in June 2022, USDD maintained a strict peg and launched the Peg Stability Module (PSM) using USDT, USDC, TUSD, and USDJ.

It is worth noting that since USDD launched in May 2022, supply has grown to over 725 million with almost all of its growth occurring in the first two months. The Messari Report noted that there are currently over 36 billion USDT circulating on the TRON blockchain, which they commented “It leaves a lot of room for USDD growth.” The Binance and Ethereum blockchains now carry USDD as well. Founder of TRON SE Justin Sun envisioned USDD offering the opportunity to access the currency pegged to the US dollar for anyone, anywhere. Based on the first five months of its existence, that aspiration appears to be off to a solid start in becoming a reality.

Since the TRON DAO Reserve has to deposit and stake an equivalent amount of TRX as collateral to mint new USDD, the Messari Report also indicated that “TRX holders are likely the biggest beneficiaries of USDD adoption, given the potential reduction in circulating supply should adoption grow.” A growing number of associations, such as TRON becomes the National Blockchain of Dominica Y Huobi Global Advisory Board promising to leverage USDD in pairs with all cryptocurrencies on its exchange will likely result in increased user adoption of USDD in the years to come.

Status of TRON

The TRON Status Report was also the first edition of Messari’s quarterly coverage. This report highlights performance analysis, ecosystem development, and qualitative analysis. Readers can also get an overview of TVL, TRON’s strategy and challenges, and a forecast of the way forward.

Key insights about the TRON Report include:

• TRON network activity exhibited continued strength after the launch of USDD in May 2022.
• Since May 2022, the total amount of participation and the total participation committed has increased dramatically.
• The 61% growth in TVL was fueled by three unique wallets depositing approximately $1.6 billion in various assets.
• The TRON DAO Reserve announced native cryptocurrency market maker Wintermute as its ninth whitelisted member, giving it the authority to maintain USDD peg.
• The GreatVoyage-v4.5.2 update released in Q3 2022 aims to improve node synchronization and transaction performance.
• If the current activity persists and USDD expands across the ecosystem, TRON’s resource model catalyzing deflation may be enhanced by demand for USDD usage.

The Messari Report offered this complementary vision in his TRON Development and Ecosystem Summary:

“Most layer 1 blockchains and their respective ecosystems experienced declines in the first half of 2022. For most, the total value locked (TVL) declined further in the third quarter of 2022, due to the continuation of the Negative market sentiment and regulatory concerns looming. TRON, however, managed to insulate itself from the adverse market conditions by increasing its TVL by 61% QoQ.”

Both reports noted the stabilizing effect of USDD collateralization, adoption, and future use cases, as well as the notable strength of TRON TVL. The TRON DAO community is delighted with the encouraging conclusions of the Messari research team.

About TRON DAO

TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the Internet through blockchain technology and dApps.

Founded in September 2017 by HE Justin Sun, the TRON network has continued to make impressive strides since the launch of MainNet in May 2018. July 2018 also marked the integration of the BitTorrent ecosystem, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of October 2022, it has more than 118 million total user accounts on the blockchain, more than 4.1 billion total transactions, and more than $11.8 billion in total value locked (TVL), as reported on TRONSCAN. Additionally, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin worldwide, outperforming USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a DAO governed by the community. In May 2022, the overcollateralized USDD decentralized stablecoin was launched on the TRON blockchain, backed by the first crypto reserve for the blockchain industry – TRON DAO Reserve, marking the official entry of TRON on decentralized stablecoins. Most recently, in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which is the first time that a major public blockchain has partnered with a sovereign nation to develop its national blockchain infrastructure. . In addition to government backing to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens: TRX, BTT, NFT, JST, USDD , USDT, TUSD, have been granted legal status as authorized digital currency and medium of exchange in the country.

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Contact

Hayward Wong
press@tron.network