Q4 reports on State of TRON & State of USDD released by Messari

The report titled “State of USDD Q4 2022” reveals the performance of a US dollar-pegged stablecoin, USDD, operated by TRON DAO Reserve. It is circulated on multiple blockchains, the major being the world’s largest crypto exchange, TRON and Ethereum. The report highlights its growth and increase in circulating volume from $6 billion to $8 billion in Q4. 

The driving force for this is the rapid increase in demand for stablecoins, which are becoming a sanctuary for investment and cross-border transactions. The report also touches on the plus points like stability, ease of use and low volatility, which made USDD a great option. 

TRON wallets holding USDD slowed in Q4, registering only 8% gains. At the same time, growth from Q2 to Q3 was nearly 480.4%. The balance of TRX on TRON DAO Reserve maintained stability from quarter to quarter. In comparison, the collateral ratio for the stablecoin is at 0.87, below 1, excluding TRX. While the reserve wallets and deposits in the burn account, the collateral ratio went to 1.7, including TRX.

Further factors contributing to the growth is a partnership with Travala, a leading blockchain-based travel booking platform that has started accepting USDD as payments. Other developing partnerships concerning everyday commerce, utility, and multichain circulation. 

The report titled “State of TRON Q4 2022” scrutinized TRON’s performance, which is a public open-sourced blockchain network and uses Delegated-Proof-of-Stake (DPos) mechanism powered by the TRON Virtual Machine (TVM). TRON uses “energy and bandwidth” instead of “gas” to validate transactions on the network, offering developers a less expensive smart contract execution. It also uses Solidity as its programming language. 

The report touches on the point of stability in TRON’s leadership in the stablecoin arena. The Commonwealth of Dominica designated TRON as the official protocol for their national blockchain infrastructure and approved seven TRON-based cryptocurrencies as legal tenders. The average daily transactions jumped by 17.9% and registered a huge spike of 1.3 million new accounts on December 10, 2022. 22.4% increase in average daily transactions and revenue increased by 25.3%. 

The report touches advantages of TRON, like scalability, user-friendly interface, and lower transaction fees, making it an attractive option. 

38% more TRX was burned in December compared to October 2022. And as of December 31, 2022, TRON nodes were allocated intercontinental, with 23% in China alone. While comparing it with Ethereum, Polygon and the world’s biggest crypto exchange, TRON is leading the win percentage of total revenue, managing 6x daily transactions compared to Ethereum. And 2X compared to Polygon and almost 2X contrast with the world’s leading exchange.

TronLink is now integrated with Android and iOS, rolling out new features like the ability to stake TRX for bandwidth and energy. In the fourth quarter, $1 billion worth of TRON DAO Ecosystem Fund launched TRON DAO Ventures (TDV), adding to the existing list of investment pathways. Smart contract triggers gained 45% QoQ. 

The TRON community keeps expanding with three seasons of Hackathons with over 2300 participants and the inception of TRON Academy with the blockchain-club partnership with seven top-tier university campuses. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

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