TRON 2023: Key Developments and Collaborative Milestones - Chainwire

11Jan

TRON 2023: Key Developments and Collaborative Milestones

Geneva, Switzerland, January 11th, 2024, Chainwire

TRON achieved a series of developments and collaborations that have enhanced its position in the Web3 space. The following are highlights from the year 2023.

Network Growth and Stablecoin Dominance

The TRON network has seen proper growth, with a 54% increase in accounts, now exceeding 204 million. The total transaction volume reached over $10 trillion, and Total Value Locked (TVL) achieved a global ranking of second, reaching $8.14 billion, according to DefiLlama. The ascent of TRON-based stablecoins—such as USDT, TUSD, USDC, USDD, and USDJ—have amounted to $50 billion in value, and has helped grow the DeFi landscape.

Significant Collaborations

Strategic collaborations have been at the forefront of TRON’s achievements. TRON supported the launch of the Dominica Metaverse Bound Token (DMBT) by DMC Labs, as part of the Dominica Metaverse program endorsed by the Dominica government. Additionally, TRON joined the Japan Cryptoasset Business Association (JCBA) representing its commitment to further exploring the Japanese market. Furthermore, integrations with Google Cloud’s BigQuery and Huawei’s Web 3.0 Node Engine Service have expanded TRON’s network capabilities.

HackaTRON and TRON Builder Tour

Starting with HackaTRON Season 4, in collaboration with HTX, it engaged over 625 participants and 172 projects, resulting in 30 judge-voted and 30 community-voted winners across DeFi, Web3, NFT, GameFi, Builder, and Eco-Friendly tracks. Season 5, in collaboration with BitTorrent Chain (BTTC) and HTX, attracted over 3,500 participants and more than 2,000 projects. This season witnessed 25 judge-voted qualifiers and 25 community-voted winners in Web3, DeFi, Artistry, Builder, and AI tracks. 2023 HackaTRON S4 and S5 boasted a substantial prize pool of up to $1,000,000* in total.

Alongside, the TRON Builder Tour (TBT) was hosted in various stops, such as Stanford, Princeton, New York City, Los Angeles, Miami, and Barcelona. Notably, the Princeton stop had nearly 100 participants and a prize pool of up to $8,000*. In each city, the tour united blockchain enthusiasts, developers, and students, fostering a learning and networking environment.

Note: All prizes were issued in USDD, not USD, restrictions applied.

Ecosystem Initiatives

Another major milestone reached in the year 2023 by TRON was the inauguration of the $100 million AI Development Fund, showcasing TRON’s initiative to blend artificial intelligence with blockchain technology. Another initiative created was the TRON Climate Initiative which further underscored TRON’s commitment to sustainability.

Event Participation

TRON participated in events like Consensus 2023, Token2049 and Binance Blockchain Week. TRON achieved the “Best Layer 1 of the Year” award during the Blockchain Life 2023 event in Dubai, a nod to their robust infrastructure.

As 2023 comes to a close, TRON’s journey through the year stands as a testament to its growing influence in the Web3 space. The past year has stood as a testament to the strength of TRON developers, users, and community members.

About TRON DAO

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

Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, 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 January 2024, it has over 206.07 million total user accounts on the blockchain, more than 6.99 billion total transactions, and over $21.37 billion in total value locked (TVL), as reported on TRONSCAN.

In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement 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 statutory status as authorized digital currency and medium of exchange in the country.