Top 3 TRON-Native Projects to Watch in 2023

Summary

• The TRON blockchain has experienced a surge in interest, with a Total Value Locked (TVL) of $6.7 billion.
• JustLend is a leading lending platform on TRON with $4.689 billion TVL, featuring a native token called JUST (JST) and dynamic interest rates.
• Acquired by TRON in 2018, BitTorrent is a decentralized P2P file-sharing and torrent network.
• SUN.io is a platform for stablecoin swapping and token mining, using the native token SUN for governance and staking.

As we embark on the final quarter of 2023, the blockchain landscape continues to evolve and expand, offering a diverse range of innovative projects and initiatives. The TRON blockchain, known for its focus on scalability and low transaction fees, has seen a surge in interest, with the Total Value Locked (TVL) reaching as high as $6.7 billion, per data from DefiLlama. 

While some projects continue to demonstrate promise and potential, the space remains rife with volatility and uncertainty. In this article, we will delve into the top 3 projects native to TRON that are currently generating buzz and exemplify the potential of the network. 

JustLend

As the leading lending platform on the TRON blockchain, JustLend empowers users to borrow, lend, deposit assets, and accrue interest. The money market protocol features interest rates determined by a dynamic algorithm reflecting TRON asset supply and demand.

Notably, JustLend commands a significant portion of TRON's Total Value Locked (TVL), boasting an impressive $4.689 billion currently locked within the protocol.

The platform's native token, JUST (JST), plays a vital role, facilitating interest payments, supporting platform maintenance, and participating in governance decisions, such as interest rates (stability fees) and minimum requirements.

BitTorrent

A leading peer-to-peer (P2P) file-sharing and torrent network, BitTorrent has undergone significant decentralization in recent years. Initially launched in July 2001, it was acquired by TRON in July 2018. Since then, the platform has introduced several innovations, including its native cryptocurrency token, BTT, which launched in February 2019 on TRON.

With 951.42 trillion BTT in circulation, the token currently trades at $0.0000003712, ranking 84th in standings, with a market capitalization of $353.09 million. BitTorrent claims to be the world's largest decentralized P2P communications protocol.

SUN.io

The TRON-based platform offers stablecoin swapping, token mining, and community self-governance. The native token of the platform SUN functions as a versatile governance token, similar to Curve DAO's CRV token and Ellipsis' EPS token. Holders enjoy voting rights, community governance, value capture, and staking rewards. As of writing, SUN's native token is trading at $0.0054, boasting a market cap of $51.86 million, according to data from DefiLlama. Presently, approximately $6.26 million, equivalent to 12.07% of SUN's market cap, is staked.

Conclusion

Amid the dynamic landscape of decentralized TRON-native applications, these projects, each unique in its offerings, showcase the promise of TRON's blockchain capabilities. Nevertheless, it is essential for investors and enthusiasts to approach these projects objectively, considering the inherent volatility and uncertainty in the crypto space.