Space Review | JustLend DAO and Sun.io Dual Engine Drive TRON Ecosystem Efficiency Revolution

The blockchain industry has experienced multiple rounds of cyclical reshuffling, while TRON, with its seven years of ecological depth, is initiating a cognitive revolution regarding "value coins." As a public chain carrying 300 million user accounts, TRON exhibits unique vitality under the dual drive of stablecoins and Decentralized Finance. Recently, the significant news of TRON going public may push TRX from "on-chain fuel" to a "digital asset target" recognized by the capital market. In this issue, the SunFlash roundtable has gathered several senior crypto KOLs to decode the underlying logic and future landscape of TRON's leap from "payment infrastructure" to "global digital asset hub," addressing topics such as how TRON builds its value moat.

Seven years ago, Mr. Sun Yuchen, the founder of TRON, embarked on the journey of TRON with the declaration of "re-decentralizing the internet." Today, TRON has already transcended the limitations of public chains as a "technical testing ground." Protocols such as JustLend DAO, Sun.io, APENFT, BitTorrent, and WINkLink have formed an interconnected ecological closed loop. TRON's stablecoin strategy has also achieved a key leap: USDD has built a decentralized super-collateral model through its 2.0 upgrade, while USD1 relies on the mechanism of anchoring to U.S. Treasury bonds to connect traditional financial arteries. This "freedom + compliance" dual-track design retains the innovative gene of encryption while paving a compliant bridge for institutional capital to enter.

Recently, Sun Yuchen has frequently attended international occasions and expressed intentions for an IPO, marking that TRON is starting a new phase of globalization with a "compliance-based capital engine + on-chain value engineering" dual-core layout. The following text will deeply analyze how it leverages stablecoins and the capital synergy of the DeFi ecosystem through the cutting-edge perspectives of this issue's roundtable guests, building a three-maintenance moat across technology, compliance, and financial innovation to promote the transition of TRX to global financial assets.

1. TRON's Seven-Year Evolution: From the King of the "Public Chain War" to an Ecosystem Stability Output Machine

Mr. Bai pointed out at the beginning that TRON holds a significant position in the industry: "If ranked by TVL, TRON actually ranks second, only behind Ethereum." The core of this achievement lies in its "ability to land real applications." Early users migrated to TRON due to high Gas fees on Ethereum, making it the preferred chain for stablecoin settlements and laying the groundwork for subsequent ecological explosions. In the public chain battle of "narrative competition and story competition," TRON has completed a leap from infrastructure construction to a global ecological empire at a "slow but steady" pace, showcasing its strategic determination and resilience that stand out in the encryption industry.

Modular Layout: From Stablecoin to Full Ecosystem Closed Loop

Teacher Niu Mo Wang outlined the seven-year development trajectory of TRON. He emphasized that TRON has completed its leap from an early independent protocol to a new global financial infrastructure through the route of "technological inclusiveness → stablecoins and Decentralized Finance infrastructure → sovereign compliance:"

1. Infrastructure Foundation Period (2018-2022): Breaking through from 0 to 1 at the underlying level

After the mainnet went live in 2018, TRON leveraged its core advantages of high throughput (2000+ TPS), low Gas fees, and Ethereum compatibility to quickly attract developers to migrate, laying a solid foundation for ecosystem development.

2. Stablecoin and DeFi Boom Period (2022-2024): Ecological Value Fission

In 2022, TRON anchored its position in the stablecoin sector by leveraging TRC 20-USDT as a breakthrough. With low cross-border payment fees and a near-instant settlement experience, it quickly captured over 50% of the global USDT circulation, becoming a core hub for financial inclusion in emerging markets. The JustLend DAO lending protocol and SunSwap DEX were launched, creating a "deposit-borrow-earn" profit loop that attracted a large number of on-chain players. At the same time, the native stablecoin USDD, through an over-collateralization mechanism and compliance upgrades, penetrated offline consumption scenarios in Southeast Asia, achieving a closed loop of "Decentralized Finance + physical applications."

3. Compliance and Globalization Development Period (2024-2025): From grassroots to sovereign-level ecosystem

Starting in 2024, TRON will use RWA and sovereign cooperation as engines to drive the ecosystem beyond its traditional boundaries. Recently, the Trump family's USD1 stablecoin was integrated into TRON, the TRX spot ETF was accepted by the SEC, and TRON's plans for a US stock listing all signify that its compliance process is entering the mainstream financial market.

Coin news further analyzes the value pillars of TRON from an ecological perspective: First, JustLend DAO has strong liquidity aggregation capabilities, with peak TVL exceeding 7.4 billion USD, making it a highly profitable protocol within the ecosystem. Second, TRON achieves multi-chain asset interoperability through BitTorrent, while Chainlink provides real-time anti-fraud price feeds to ensure on-chain financial security. The 300 million user base further provides fertile ground for hot sectors like APENFT and SunPump. Finally, TRON has been designated by the government of Dominica as a national-level blockchain infrastructure, issuing the national digital currency DMV for paying salaries to civil servants. From performance to payments to ecology, TRON attracts users with high TPS and low costs, eventually expanding from grassroots to sovereign government recognition through DeFi projects, ultimately extending to Meme and RWA scenarios.

l Slow and Steady Strategy: Resilient Advantage in Hibernation

The Bull Demon King stated compared to other mainstream public chains: "TRON has no high expectations to start with, no technical standstill, and no expansion difficulties, only steady progress." He mentioned that while Solana frequently generates hotspots, its frequent technical failures lead to a cliff-like fluctuation in its ecosystem; Aptos, as an emerging public chain, is given high expectations by the market, but its technology is not robust enough and its application scenarios are relatively scarce; Ethereum upgrades slowly, the community is overly geek-oriented, and the user threshold is high; while TRON focuses on "building a triangular support of real users, real funds, and real liquidity," maintaining on-chain activity even in bear markets, becoming an "undying chain" that transcends cycles.

0x Lao Fashi pointed out that the core competitiveness of TRON lies in "authenticity". He stated: "The billions of transfers on the TRON blockchain every day are not generated by subsidies, but are user habits cultivated over seven years. Although the DEX is not flashy, it is functionally complete, with modules like oracles and cross-chain bridges having been tested in real-world scenarios." 0x Pink provided data to support resilience: "Slow is not a problem of development pace, but rather a matter of less upheaval. While other chains create false prosperity through airdrops, TRON has built a moat with a real settlement volume of 80 billion USDT and 315 million users." This accumulation has transformed it from a public chain competitor into an "ecosystem stability output machine," establishing barriers in deep water areas like RWA and compliant payments. Peter from the crypto circle further added: "The 'slowness' of TRON is essentially 'strategic resolve', not blindly chasing airdrop incentives or narrative hype, but focusing on stablecoin hub positioning and solid ecological infrastructure, embodying the survival philosophy of 'incremental optimization over radical reconstruction'.

II. JustLend DAO and Sun.io: Building the "Yield Engine + Liquidity Entry" Dual-Core System for TRON DeFi

TRON builds a self-sufficient financial operating system through a capital pool accumulated in high-frequency payment scenarios with stablecoins, utilizing a "sandwich architecture" for layered circulation: the underlying payment layer (USDT/USDD), the intermediate revenue layer (JustLend DAO), and the top trading layer (Sun.io).

As the lending and trading hub of the TRON ecosystem, JustLend DAO and Sun.io jointly drive the efficient circulation of on-chain funds through protocol-level collaboration and user tier design. After users stake USDT to obtain an annual yield of 8%-15%, they can mortgage it to borrow TRX and participate in Sun.io liquidity mining, increasing the overall yield to over 25%. Peter from the crypto circle emphasized: "JustLend DAO and Sun.io form a triangular cycle of 'deposit-loan-arbitrage', significantly improving the utilization of funds." For small holders, JustLend DAO has also launched the GasFree service to support USDT payment of fees, completely eliminating the holding threshold for TRX and attracting long-tail traffic.

As the native DEX of TRON, Sun.io has become an ecological liquidity hub through low slippage and aggregated routing. The 0x old master points out that SUN.io has built a closed-loop system for DeFi fund flow through stablecoin trading and cross-protocol interoperability, and has made substantial progress: First, liquidity is becoming more stable, with considerable depth and trading volume for trading pairs like USDD-TRX and USDD-USDC. Second, the user experience is simple enough and fees are low, and many people have formed a habit of using it. Third, the interconnection among the entire ecosystem is deepening, with Sun.io deeply linked to JustLend DAO to form a "deposit-borrow-earn" closed loop. Users can stake USDT in JustLend DAO for lending, and then invest in Sun.io liquidity pools, with mining earnings that can be staked again or exchanged back for stablecoins, reinforcing the internal circulation of funds.

0xLao Fa Shi summarized: "Once users trade, stake, and earn interest with USDT on TRON, they will form 'muscle memory'. This kind of stickiness driven by real demand is the last mile of the moat."

3. The on-chain value logic of TRX: From "silent tokens" to the triple leap of value reassessment.

The dialogue among the roundtable guests reveals the value logic of TRX: breaking away from short-term speculation, rooting in real demand, and achieving endogenous growth through economic models and on-chain closed loops. As the old master 0x said, "If you are chasing stories of tenfold daily increases, TRX is not the answer, but if you believe that 'the flow does not compete for speed, but for continuity,' then it may be the most undervalued value carrier in the Web3 world." With the advancement of the RWA and compliance wave, TRX may complete its transformation from "ecological fuel" to "digital hard currency," becoming a value benchmark that crosses bull and bear markets, connecting the traditional and crypto worlds.

The triple value support of the economic model

In the cryptocurrency circle, Peter pointed out that the core reason why TRX has been undervalued by the market for a long time is that it is simply seen as a "Gas token," but it actually plays a more complex role in the TRON ecosystem:

1. Stablecoin reserve assets: USDD, as an over-collateralized stablecoin, relies on TRX staking support, with a current circulation exceeding 500 million USD. The locked TRX forms a rigid demand pool. The integration with USD1 will further expand the TRX staking scenario, creating a positive cycle of "staking - stablecoin issuance - ecosystem expansion."

2. DeFi liquidity engine: In the JustLend DAO lending protocol, TRX is the core collateral, and the TRX trading pair in SunSwap becomes the "ballast" of DEX liquidity. In 2024, the income of the TRON protocol reached 760 million USD. Meanwhile, part of the Gas fees from TRON is returned to token holders through the TRX burning mechanism, and the deflationary effect gradually becomes apparent.

3. Compliance expectations: Sun Yuchen recently revealed the listing plan for TRON and that the TRX spot ETF has been submitted to the SEC for approval. If approved, it will become a compliant public chain token, attracting traditional capital into the market, which has significant growth potential.

Internal Value Closed Loop: From on-chain activities to deflationary flywheel

Peter from the crypto community further emphasized: "The burning mechanism of TRX, combined with staking rewards, constitutes a 'double helix' value model - consume and it will be destroyed, hold and it will earn interest, which is an economic resilience that most tokens do not possess." 0x Old Mage further dissected the on-chain closed loop of TRX from a technical logic perspective:

1. Staking Governance: Users can stake TRX to gain energy and bandwidth, participate in super representative node voting, and promote the decentralization and security of the network.

2. Burning Mechanism: The TRON network has introduced a partial TRX transaction fee burning mechanism, which means that as usage increases, the supply of TRX will gradually decrease. This is an invisible value pump - the more active the users are, the scarcer the tokens become.

3. Financial tools: JustLend DAO supports TRX collateral lending, and Sun.io provides TRX trading pairs. Both work together to release liquidity and improve capital utilization.

Mr. Bai added, "The TRON ecosystem has formed a positive cycle of 'user growth → increase in transaction volume → acceleration of burning → intensification of deflation → increase in staking rewards,' which is a typical feature of a self-driven ecosystem."

4. The Prospects of TRON's Listing and the Global Financial Asset Potential of TRX

Recently, TRON plans to achieve its listing on the US stock market by reverse merging with Nasdaq-listed company SRM Entertainment, which is seen as an important breakthrough for compliance in the crypto industry. This operation not only avoids the stringent scrutiny of traditional IPOs but also injects TRX tokens into the balance sheet of the listed company, forming a capital closed loop of "tokenized stocks", providing a new paradigm for the integration of crypto assets and traditional finance. As Mr. Bai said, "Compliance is the only way for the industry to survive, and the listing of TRX provides a mechanism for legal risk isolation for holders, which is both a strategic defense and an active breakthrough."

At the same time, the application for the TRX spot ETF is also progressing rapidly. In April of this year, Canary Capital Group officially submitted the S-1 document to the U.S. Securities and Exchange Commission (SEC) to apply for the launch of the Canary Staked TRX ETF, which is the first spot ETF that combines staking functions, aiming to provide investors with a dual return model of "price returns + staking returns." If the TRX spot ETF is approved, it may replicate the institutional influx effect of the Bitcoin ETF. Coin News emphasizes: "The securitization path of TRX and the scale effect of stablecoins make it a 'compliance bridge' for traditional capital entering Web3." He stated that the listing of TRX in the U.S. and the TRX spot ETF are signals of compliance transformation, becoming the next "mainstream institutional entry outpost."

V. Conclusion

The seven-year journey of TRON is essentially a dimensional revolution from technological infrastructure to value consensus. Through the triple engine of "stablecoin + DeFi + compliance," it not only builds a closed-loop network of on-chain ecology but also opens up deep integration between digital assets and traditional finance. TRON's ambitions go beyond technological iteration; it aims to reshape financial discourse, proving that the ultimate goal of Blockchain is not to disrupt tradition, but to become the "connection layer" of global value.