Tron-based stUSDT Secures 1st Spot on DefiLlama’s RWA TVL Rankings

• The second spot is secured by Ondo Finance with $132.79M TVL.
• Justin Sun expressed his delight with stUSDT’s rise in DefiLlama’s RWA TVL Rankings.

Through the decentralized platform JustLend, the TRON ecosystem recently welcomed its first Real World Asset (RWA) product: stUSDT. Justin Sun, creator of TRON and member of Huobi’s global advisory board, predicted that stUSDT will become the cryptocurrency equivalent of Alipay’s Yu’e Bao, a money market fund service provided by Alibaba.

Sun believes it will act as a conduit for the integration of conventional markets into blockchain ecosystems, giving crypto consumers more freedom of choice.

Enticing Investors

To further facilitate new users’ introduction to RWAs on TRON. The stUSDT platform will run a welcome campaign from July 10 through August 10, 2023. Increasing the APY to as much as 10% (from the usual 5%). From July 3rd through August 10th, users may also take advantage of reduced stUSDT redemption costs.

Since its release, the TRON-based RWA product stUSDT has generated substantial buzz because of its massive worldwide user base and $50 billion stablecoin market worth.

Recently, Justin Sun expressed his delight with stUSDT’s rise to the top of DefiLlama’s RWA TVL Rankings. DeFi TVL is aggregated by DefiLlama. stUSDT has a TVL of $163.76M as of this writing. The second spot is secured by Ondo Finance with $132.79M TVL.

In order to keep up with other leaders in the cryptocurrency market. The Tron (TRX) team has been quite busy throughout the last several years. Also, throughout the week of July 1–7, Tron achieved a number of important milestones, which were recounted by the @Trondao Twitter account.

The fifth season of the Tron Grand hackathon kicked began on July 6, marking one of the most significant events of the last week. 

Highlighted Crypto News Today:

Breaking News: 20M MATIC Transferred from Polygon Staking to Unknown Wallet

share