![TRON [TRX] Surpassed BNB Chain To Attain Prime 2 In DeFi TVL](https://blockchaingist.com/wp-content/uploads/2022/08/possessed-photography-TUIOmxxW_Zg-unsplash-1-e1659863893984.jpg)
In the most recent DeFi TVL rankings, TRON [TRX] surpassed BNB to become the world’s second largest chain by market cap, at $5.82 billion. Protocol TVL increased from $3.95 billion on July 1 to $5.91 billion on the last day of the month, a growth of 49%.
The number of currently active users is maybe the single most important DeFi indicator, and thus TVL. It’s a reliable way to evaluate the stability of a project.
The current uptick in total value locked can be ascribed to the explosion of decentralized apps [dApps] within the ecosystem.
TRON [TRX] Has Achieved Prime 2 in DeFi TVL 3, Beating Out BNB Chain
JustLend, the first official TRON-powered lending protocol, has seen its user base increase by over 19% in recent times.
In a report made public on its weekly updates, key insights from the community’s efficacy were emphasized. There are already 4,050 dApps available on TRON, according to the post.
Based on these metrics, the blockchain is now “the second largest public chain by stablecoin market cap and the third largest public chain by TVL,” as stated in a reply tweet from Tron Scan.
According to the article, blockchain security company CertiK has given the JustLend DAO a clean bill of health. Even on CryptoDiffers’ Prime 15 DeFi tasks, the DAO has achieved success in the top 5 by TVL.
TRON’s First lending Protocol Is Main Star
Trading volume on JustLend DAO increased from $1.28 million on July 26 to $3.83 million the next day, a gain of more than 3,300%. Due to its high TVL, the DAO has dominated the TRON DeFi, with the SUN.io yield farming protocol adopting a distant second place.
Algorithmic stablecoin JustStables [USDJ] is another major factor, growing by almost 2% throughout the same time frame. Also, UniFi and SocialSwap, two decentralized exchanges [DEXs], have seen gains of around 550% and 6%, respectively.
TRON, founded in 2017 by Justin Solar, began as an ERC20 token within the Ethereum ecosystem. TRON said in 2018 that it is transitioning to a decentralized peer-to-peer network due to adaptation issues and high fuel costs. As of this writing, the total value of its native token, TRX, was $6.43 billion.
