Messari released research reports on the TRON (TRX) crypto

One of the leading crypto market information providers, Messari, recently provided its quarterly analysis reports related to TRON (TRX).

Two reports were issued, one on the state of TRON Q3 2022 and one on the state of USD Q3 2022. 

The analysis of the TRON (TRX) crypto

With regard to the status of TRON, the analysis shows a 71% increase in TRX’s Total Value Locked. Meanwhile, the analysis regarding the USDD stablecoin shows a 480.4% increase in USDD holders. 

Hence, we are talking about positive conclusions, which highlight the stability and robustness of the TRON ecosystem. 

TRON is an open-source public blockchain network that uses a Delegated-Proof-of-Stake (DPoS) mechanism and the Practical Byzantine Fault Tolerance (PBFT) consensus algorithm. TRON uses DPoS to introduce an election mechanism to determine who maintains the network. An election occurs every six hours, resulting in 27 Super Representatives who take turns producing blocks.

Messari’s report highlights key concepts, developments, and the most efficient performance. 

Key insights on TRON’s report

• TRON network activity reached an updated user base after the launch of USDD in May. 
• Since May, total share and committed share amounts have increased dramatically.
• The growth of 61% in TVL was driven by three unique portfolios that deposited about $1.6 billion in various assets.
• The TRON DAO Reserve announced cryptocurrency market maker Wintermute as its ninth member on the whitelist, giving it authority to maintain the USDD peg.
• The GreatVoyage-V4.5.2. update released in Q3 aims to improve node synchronization and transaction throughput. 
• If current activity persists and USDD expands across the ecosystem, TRON’s resource model that catalyzes deflation can be improved using USDD.

The numbers in Messari’s report

In the analysis, user activity, as measured by daily active accounts in Q3, appears to be flat; however, it has become much more active, thanks in part to an increase in total average daily transactions and transactions per second.

The metric of daily active accounts is new and existing account activity. Daily active accounts and newly activated accounts reversed course at the end of Q2.

Overall, total transactions grew 12.4% to 5.3 million compared to Q3. Most of the growth can be attributed to the 62% increase in TRX transfers. For the past two quarters, TRX transfers have dominated transaction activity.

JustLend, the most dominant protocol in terms of TVL (64%), is the flagship project in TRON’s DeFi market. It enables users to provide liquidity in exchange for yield and also allows users to deposit qualified collateral and borrow against it. JustLend was the driving force behind the isolated growth (172%) on a quarterly basis as it accumulated $2.5 billion in TVL by the end of Q3.

In Q3, TRON announced its willingness to partner with MasterBlox and We Fund in order to focus on Web3 adoption and the growth of its ecosystem. Through joint acceleration and incubation programs, the collaboration aims to be a springboard and provide tools for communities and developers to build on the network.