TRON Defines the Spend for its USD 1,111,111,111 Ecosystem Fund
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
Geneva, Switzerland / April 28 / – TRON has announced the allocation for the USD 1,111,111,111 ecosystem fund they revealed in November 2021. The fund was established to foster the growth and development of the TRON ecosystem over 10 years.
TRON has been a long-time proponent of the decentralization of the Internet via blockchain technology. Since completing full decentralization in December 2021, the TRON DAO ecosystem continues to thrive with fast speeds, high scalability, and low costs. As of April 28, 2022, it has industry-leading performance with over 89 million users on the blockchain, more than 3 billion transactions, and over USD 8 billion in total value locked (TVL).
The first recipients of the ecosystem fund were Sun V2.0 and JustLend, receiving USD 24.899 million as liquidity mining rewards. Another USD 150 million will be distributed as mining and staking rewards through various other competitive protocols in the ecosystem. Of the remaining funds, USD 600 million will be devoted to broadening the DeFi landscape by investing in a wide range of unique and innovative DeFi projects on the TRON network.
DeFi continues to be a crucial movement for the crypto space as it enables financial services to operate in an open, accessible, and transparent digital form. As a community-governed DAO, powering the future of DeFi is aligned with TRON’s vision of a decentralized future. Thousands of developers worldwide are working towards advancing the DeFi industry, making strides in network security and user experience.
TRON DAO has also established the TRON Grand Hackathon to encourage the evolution of the TRON and BitTorrent Chain (BTTC)
Read more on cryptonews.com
