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Despite the sharp drop in the cryptocurrency markets in May 2022, the TRON ecosystem has made some progress in its products, as well as in the development of the community.
According to a statement from TRON DAO, in May 2022, the TRX ecosystem, including the blockchain itself, the decentralized USDD stablecoin, and the developer community focused on Tron, made several achievements.
Built on top of TRON’s thriving stablecoin ecosystem, USDD will be backed by excess collateral through a combination of stable and volatile assets, decentralized stablecoins (CDS).
We want USDD to become the new settlement currency of cryptocurrency, “wrote the creator of the blockchain Justin Sun.
The decentralized stablecoin USDD dramatically increased its capitalization and entered the top 100 digital assets coinGecko by market capitalization in the 16 days after launch.
Currently, its combined market capitalization is approaching $669 million, which is supported by the burning of more than 8 billion TRX.
The USDD stablecoin is already present on a number of centralized and decentralized cryptocurrency exchanges, including JustLend, SunSwap, PancakeSwap, Ellipsis, Uniswap, Curve, Poloniex, Huobi Global, KuCoin, Gate.io, LBank, Bibox, Bitget Global and KyberSwap.
After the collapse of Terra (LUNA), Tron ranks third among public smart contract platforms for total blocked value (TVL) of $6.17 billion.
Tron (TRX), Tron’s main native cryptocurrency, surpassed AVAX and now ranks 13th in terms of market capitalization. On May 29, 2022, Tron became the most popular blockchain in terms of the number of active accounts.
In addition, TRON DAO announced the launch of a $10 million incentive fund program for projects that are poised to move from other networks to Tron.
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