[Yin Yang]

I just don’t get why Tron is top 10 and has a near 30 BIL Marketcap.

I guarantee if Sun didn’t get away from going to prison and from all his shenanigans and stunts, this would’ve plummeted by now.

I did use USDT before on TRX, but the fees were just not worth- and I was better off using LTC instead. And LTC is at #21.

Is there DeFi really that impressive? Are devs building on it? Or is it due for a major correction and rug?

[MadScientist]

Curious to follow this, I personally love TRX transaction times. I used USDT on their blockchain a lot before I became broke lol

[Omniscient]

Tronlink is a GAS-FREE USDT TRX wallet.

https://www.tronlink.org/

It's a flat $1 USDT fee for every transaction. Almost everyone that wants to pay me with USDT does so with TRC-20.

Not everyone uses the Gas-Free wallet because people might have their own Energy and Bandwidth staked.

I'd say Tron is better than Ethereum. I don't think Justin Sun really matters all that much to the ecosystem.

My personal USDT favorite though is Sui network. Almost no fee and instant. But it hasn't reached the adoption level to compete with TRX.

Tron is huge is China and China is a huge market. So that's mostly why it's still top 10.

[SUI-3183372]

Justin Sun shitpost incoming...

As far as apps and services go, Tron is a ghost town outside of the offerings that come directly from the Tron team, offerings that Justin Sun treats as his own personal playground for manipulation and laundering. Generally this is not at the detriment of users though, Justin actually keeps quite a bit of liquidity running through his protocols, leading to fairly good stability. This stability comes in the form of a heavily subsidized ecosystem. The base APY for lending any stables on Tron is generally sub 1%, there's zero demand for it, so they subsidize lending APY's to push 5%. Their flagship stable, USDD, has zero demand, APY is 0.01% without subsidies, nearly 5% with.





This is all Justin Sun, from JustLend to USDD to SUN to stUSDT to TronLink to Bittorrent to Poloniex to HTX, Sun controls all of it, and he just shifts money around across these protocols as he pleases. If he doesn't control it, it's next to valueless on Tron, only his offerings succeed.

https://www.circle.com/blog/circle-is-di...%20company.

I don't think if you use Tron you're at any massively increased risk or you're an idiot like XRP holders, but I don't think Tron would necessarily even exist anymore without Justin Sun, the Tron ecosystem is just a Justin ecosystem.

[Omniscient]

Justin Sun shitpost incoming...

As far as apps and services go, Tron is a ghost town outside of the offerings that come directly from the Tron team, offerings that Justin Sun treats as his own personal playground for manipulation and laundering. Generally this is not at the detriment of users though, Justin actually keeps quite a bit of liquidity running through his protocols, leading to fairly good stability. This stability comes in the form of a heavily subsidized ecosystem. The base APY for lending any stables on Tron is generally sub 1%, there's zero demand for it, so they subsidize lending APY's to push 5%. Their flagship stable, USDD, has zero demand, APY is 0.01% without subsidies, nearly 5% with.


This is all Justin Sun, from JustLend to USDD to SUN to stUSDT to TronLink to Bittorrent to Poloniex to HTX, Sun controls all of it, and he just shifts money around across these protocols as he pleases. If he doesn't control it, it's next to valueless on Tron, only his offerings succeed.

https://www.circle.com/blog/circle-is-di...%20company.

I don't think if you use Tron you're at any massively increased risk or you're an idiot like XRP holders, but I don't think Tron would necessarily even exist anymore without Justin Sun, the Tron ecosystem is just a Justin ecosystem.

Great post but I have a different view.

Chinese love centralized imho. They love their own stuff too. You say there is no demand but then why is all my USDT payments always TRC-20? Their own flagship USDD might be a dud but USDT on their network is incredibly strong.

Also, isn't your description often the same for other chains that have their own stablecoins? Sui doesn't have their own for the same reason, no real demand. USDC and USDT are basically king of Stablecoins. All the networks that try to make a few bucks with their own most likely do heavy subsidizing like you described.

I have no love for Sun but no hatred either. I think he's done a better job about staying in the background because China and the US actually want to arrest him. Does that make him a rogue villain or an outlaw hero?

Some interesting info and timeline about Tron..

https://crypto.com/en/coins-ai/tron/what-is

[SUI-3183372]

Great post but I have a different view.

Chinese love centralized imho. They love their own stuff too. You say there is no demand but then why is all my USDT payments always TRC-20? Their own flagship USDD might be a dud but USDT on their network is incredibly strong.

Also, isn't your description often the same for other chains that have their own stablecoins? Sui doesn't have their own for the same reason, no real demand. USDC and USDT are basically king of Stablecoins. All the networks that try to make a few bucks with their own most likely do heavy subsidizing like you described.

I have no love for Sun but no hatred either. I think he's done a better job about staying in the background because China and the US actually want to arrest him. Does that make him a rogue villain or an outlaw hero?

Some interesting info and timeline about Tron..

https://crypto.com/en/coins-ai/tron/what-is

I think the difference is that Justin Sun wants YOUR stablecoins. His entire ecosystem is set up for his users to deposit native USDT, and to accept using synthetic stables instead. Justin then takes your stables, puts them to work elsewhere, returns some of the yield back to you, pockets the rest. stUSDT, USDD, Justlend are all extractions plays by him (but users are seeing returns, so debatable on whether this is actually bad)

And you're right, this isn't really unique to Tron, but I also don't think it's ever been so blatant either. Other chains feel like they serve purposes other than being the founder's personal playground, on Tron that's the only vibe that I really get from it. But, APAC is big and confusing to me, I'm often perplexed as to why they're drawn to certain chains or projects. It's often because they know something I don't, or there's some integration that's really powerful within their regions.

[TehHaxx]

Just got to think you're the minority... and the masses when trading USDT are looking for the cheapest gas fees when on exchanges... which is typically Tron. Called it a while ago to swap over from stables to TRX...seeing nearly 10-15% returns while the market bleeds. Though don't think theres much more room for it to grow currently, feel it will sit around 0.30-0.32 for a while.

[Omniscient]

I think the difference is that Justin Sun wants YOUR stablecoins. His entire ecosystem is set up for his users to deposit native USDT, and to accept using synthetic stables instead. Justin then takes your stables, puts them to work elsewhere, returns some of the yield back to you, pockets the rest. stUSDT, USDD, Justlend are all extractions plays by him (but users are seeing returns, so debatable on whether this is actually bad)

And you're right, this isn't really unique to Tron, but I also don't think it's ever been so blatant either. Other chains feel like they serve purposes other than being the founder's personal playground, on Tron that's the only vibe that I really get from it. But, APAC is big and confusing to me, I'm often perplexed as to why they're drawn to certain chains or projects. It's often because they know something I don't, or there's some integration that's really powerful within their regions.

Sounds like a lot of personal feelings about Sun. Not really anything wrong with that but I just think if those feelings are removed you wouldn't have the same level if distrust for Tron. That may sound impossible because Sun might very well be an integral part of TRX.

SOL is way worse imho with Pump.fun garbage. I don't know if Charles had any involvement or made any personal statements about it. Then you have Vitalik with Ethereum who is clearly some deep nerdy weirdo. If there was ever a poster boy for a Geek that gets bullied by Normies it's Vitalik.

[Kify]

It's one of the most popular chains to transfer stablecoins (specifically USDT) on, most people I have dealt with preferred to use, or even exclusively used TRC-20 USDT. The vast majority of them are not into DeFi or anything and purely use the chain for stablecoin transfers.

I remember I made a thread about this like a year ago and the general consensus as to why USDT on Tron is so popular was that exchanges offer cheap/free TRC-20 withdrawals, and once enough people were already using it, that became self-reinforcing

The entire energy mechanism seems just purely retarded to me. According to an energy calculator, sending USDT right now would consume 65k energy per transaction. Atm you'd need to stake 7000 TRX/$2.2k to get enough energy to send that for free once a day. Is the recipient a clean address? Then double the numbers I just mentioned.
Yes you can rent the energy to pay less, which would be $1-2 per transaction, but that still seems like too much compared to the other decent options you have nowadays. Sending 2500 of such transactions on Solana for example would cost a buck in total. (If the recipient has a token account for the token, otherwise it can be more, but that's another story)

I don't understand why anyone, aside from people who send and receive straight from exchanges, would prefer to use this chain. You're either paying an arm and a leg to transact, have to go through some hoops to pay a still absurd amount, or have to have a chunk of money invested and locked for a minimum of two weeks, taking on all the risks of being invested in a chain that seemingly has not much to offer except for an eccentric founder and questionable liquidity.