TRON recently released details on its spending of $1,111,111,111 ecosystem funds to various organizations to empower the decentralized industry. In November 2021, the TRON team announced it will allocate funds to help improve the TRON ecosystem through growth and development.
TRON blockchain has always advocated for the development of decentralization in its network.
DeFi is the future of the digital economy and technology that will completely change the way the world operates through the internet. Currently, it is a movement in the crypto world as it facilitates users with financial services. People use DeFi platforms in trading and investing on blockchain networks.
TRON is a DAO community-based blockchain that is making an effort for a decentralized future. It is part of some of the biggest blockchain contributors empowering startups and companies to switch to decentralized finance for a more open and transparent system.
TRON ecosystem funds
TRON revealed exclusive details about the ecosystem that contributes to the success of the TRON DAO ecosystem.
- Sun V2.0 and JustLend were the first recipients. They received liquidity mining rewards of about $24.899 million.
- TRON Grand Hackathon by TRON DAO was funded with $500,000 for Season 1 and $1 million for Season 2. More details will be provided later.
- The blockchain plans on distributing $150 million among different other protocols in the ecosystem as staking and mining rewards.
- $600 million will be funded for various DeFi development projects within the TRON network.
Following its announcement for ecosystem funds in Nov 2021, TRON blockchain completed its TRON DAO ecosystem in December 2021. This ecosystem employs all the latest technologies to maintain its fast speed, high scalability, and low cost for users.
TRON ecosystem is a futuristic platform by TRON DAO with fast and user-friendly features. It has 89 million users on the network, over 3 billion transactions, and more than $8 billion in total value locked (TVL).
This is a huge achievement for the TRON ecosystem and shows the overall network’s worth. This project is a long-term process of about 10 years that will help TRON blockchain to maintain stability and become a proper platform in the market for a long time.
TRON DAO also launched TRON Grand Hackathon to empower TRON and BitTorrent Chain (BTTC) ecosystem across the NFT, Web3, GameFi and DeFi industries.
BTTC or BitTorrent Chain is a platform that bridges ecosystems like TRON DAO to improve asset liquidity for billions of dollars. With an average transaction fee of less than $.01, it can make transactions in three seconds with confirmation, making it an ideal platform for ecosystems.
About TRON DAO
TRON was founded by H.E. Justin Sun in 2017 as a revolutionary network through blockchain technology and decentralized applications (dApps). Since its launch, TRON has proven itself to be one of the most authentic blockchain networks in the world.
The TRON network has over 89 million total user accounts on the blockchain, over 3.1 billion total transactions, and more than $8 billion in TVL.
TRON has received much recognition since its MainNet launch in May 2018. The network also integrated BitTorrent, a decentralized Web3 services platform with more than 100M active monthly users, into the blockchain in July 2018.
USDD, a new stablecoin launched on the TRON blockchain supported by TRON DAO Reserve, the first-ever crypto reserve for the blockchain industry. This launch marks TRON’s official entry as a market for decentralized stablecoins.
Recently, TRON transitioned to become more decentralized by introducing a community-governed DAO called TRON DAO.