The Tron ecosystem is one of the largest in the cryptocurrency space and is rapidly expanding. It's also one of the most talked-about blockchains in the crypto community, not so much the blockchain itself but from the actions of Justin Sun, its founder. Whether it is announcing a new algorithmic stablecoin after the LUNA collapse, or pitching in funds to help Michael Egorov with backstopping his AAVE loan when CRV got attacked, Justin is one of the most recognized names in the crypto space. His fame may, at times, eclipse that of the Tron blockchain he founded.
However, what we are going to do today is to bring our focus back to the blockchain itself, specifically to the 7 Best Tron DApps together with some background information on them.
Understanding Tron Protocol
The Tron protocol is a smart contract layer-1 blockchain network that allows developers to build decentralized applications (DApps) using its native infrastructure. Tron is EVM-compatible, which supports Ethereum’s Solidity language and DApp ecosystem. It leverages the Tron Virtual Machine (TVM), a lightweight, Turing-complete virtual machine that executes smart contracts. TVM connects seamlessly with existing development ecosystems, making it a go-to option for developers familiar with Ethereum who want to port their applications to Tron without significant changes.
Tron uses a Delegated Proof-of-Stake (DPoS) consensus mechanism, which is crucial for both its scalability and decentralized governance. Every six hours, the Tron community elects 27 Super Representatives (SRs) to validate transactions and produce blocks. These SRs take turns producing blocks, earning rewards distributed between the SRs and those who voted for them. Voters are incentivized with a share of the block and voting rewards, minus a small commission taken by the SRs.
Tron in Recent History
- Stake 2.0 Upgrade (April 7, 2023): This significant upgrade separated staking and delegation into two distinct transactions, enhancing flexibility in how TRX holders interact with staking and voting. It also improved overall network performance by making staking operations more efficient.
- TRX Bridging to Ethereum (June 2, 2023): Tron’s native token, TRX, became accessible on Ethereum via the BitTorrent bridge, allowing TRX to operate as an ERC-20 token. This integration strengthens interoperability between Tron and Ethereum, enabling more use cases for TRX across multiple blockchains.
- Amazon Web Services (AWS) Integration (March 19, 2024): Tron made strides in simplifying blockchain infrastructure when AWS integrated support for Tron. This allows developers to easily run a full Tron node through AWS with just a few clicks, lowering the technical barrier to entry for building on Tron.
- GreatVoyage-V4.7.5 (Cleobulus) Upgrade (June 15, 2024): The Cleobulus upgrade was mandatory and introduced critical adjustments to the energy costs for specific opcodes like SUICIDE and VOTEWITNESS within the TVM, further optimizing the network's resource management.
The Tron DApp ecosystem has expanded significantly, with many new projects and milestones emerging since we last explored it. In the next sections, we will examine the top DApps within the Tron ecosystem in 2024.
You can learn more in our full Tron (TRX) review.
Best Tron DApps
Here are the top DApps on Tron!
JustLend
JustLend is a decentralized lending platform and the first official lending protocol built on the Tron blockchain. It functions as a money market, where users can earn interest by supplying assets or borrowing against collateral, stake TRX, and rent energy – a gas system on Tron.
JustLend Utility
JustLend is the liquidity hub for the Tron ecosystem. It offers lending, burrowing, and staking services, enabling financial activity within the ecosystem. JustLend supports the health of the Tron ecosystem by encouraging the circulation of TRX, TRC-20 tokens, and stablecoins. JustLend offers fast and cost-efficient transactions, improving the network’s liquidity. JustLend is also the largest protocol by TVL on Tron, with $4.56 billion in value locked in October 2024.
JST Token
- JST Utility: JST is the governance token for JustLend DAO, allowing holders to vote on protocol proposals and participate in decentralized governance
- Staking: JST holders can stake tokens on the platform to earn rewards and participate in supply mining.
- Integrated Protocols: JST is connected to key protocols within JustLend's ecosystem, including SBM (Supply and Borrow Market), sTRX (Staked TRX), USDJ (Stablecoin), and Energy Rental
- Buyback & Burn: JST has a burn plan that uses protocol revenue to provide liquidity and burn JST tokens to stabilize the token's price
Milestones
In recent years, JustLend has hit several important milestones. In April 2023, it launched a Staked TRX (sTRX) pool, enabling higher yields through staking. By February 2024, JustLend integrated multiple DeFi protocols to offer a more streamlined user experience. The protocol has accumulated over $4.5 billion in Total Value Locked (TVL) by October 2024 (DefiLlama), demonstrating its importance in the TRON DeFi ecosystem. The platform also initiated a buyback and burn plan to maintain JST liquidity and incentivize ecosystem participants.
SUN
SUN is a leading decentralized finance (DeFi) protocol on the Tron blockchain, primarily designed as a decentralized exchange (DEX) and liquidity mining platform. It allows users to swap tokens, stake assets, and participate in yield farming. SUN operates on a TRC-20 token standard, aiming to simplify DeFi interactions on Tron by offering services such as stablecoin swaps, token mining, and governance.
Utility in the Tron Ecosystem and DeFi
As a major DEX within the Tron ecosystem, SUN is important in facilitating efficient token exchanges, improving liquidity, and ensuring stable yields for liquidity providers. It supports a wide range of DeFi services, including SunSwap for token swaps, SunCurve for stablecoin swaps, and PSM (Peg Stability Module), which helps maintain the peg of stablecoins like USDD. SUN’s integration with Tron’s DeFi protocols contributes to the growth of decentralized financial products, including lending, liquidity pools, and staking services.
Token Utility
The SUN token is central to governance on the platform, enabling holders to participate in SUN DAO. Users can vote on proposals that affect the platform's direction, including liquidity pool configurations and earning rates. SUN tokens are also used in yield farming, where users stake tokens to earn rewards.
JustStables
JustStables is a decentralized borrowing protocol built on the Tron blockchain. Users can mint the USDJ stablecoin by depositing TRX as collateral through a Collateralized Debt Position (CDP) system. USDJ is pegged 1:1 to the U.S. dollar, providing stability and liquidity within the Tron DeFi ecosystem.
Utility in the Tron Ecosystem and DeFi
JustStables plays a key role in Tron's DeFi space by offering a stable asset (USDJ) that can be used across multiple decentralized applications (DApps) within Tron. Users can leverage USDJ for lending, borrowing, and liquidity provision, effectively using it as a hedge against market volatility. By mitigating the risks of volatile assets, JustStables ensures more stable participation in decentralized finance.
Milestones
Since its launch in 2020, JustStables has grown to manage over 10 billion TRX in total value locked, making it one of the largest borrowing protocols on Tron. Significant updates include continued integration with other DeFi platforms on Tron and the successful deployment of USDJ across various exchanges and DApps on Tron.
Just.Game
Just.Game is a blockchain-based game built on the Tron network, introducing GameFi (gaming combined with decentralized finance). It features a combination of gameplay elements, including play-to-earn mechanics and tokenized assets that can be traded and used within the game's economy. Players interact with smart contracts to earn rewards, participate in events, and unlock in-game items.
Utility in the Tron Ecosystem and DeFi:
Just.Game's decentralized structure contributes significantly to the Tron DeFi ecosystem by offering a unique platform where gaming meets financial rewards. Players interact with smart contracts to stake assets, earn dividends, and participate in a self-sustaining economy, where in-game actions generate passive income. This concept aligns with Tron’s broader DeFi landscape, where users benefit from low fees and fast transactions.
Token Utility:
Just.Game has integrated in-game tokens that can be earned through participation and activities. These tokens are linked to the broader Tron ecosystem, allowing players to trade them for TRX or other TRC-20 tokens. This system introduces a financial component to the gameplay, enabling players to earn and spend their in-game assets as cryptocurrencies.
SocialSwap
SocialSwap.io is a decentralized exchange (DEX) operating on the Tron blockchain. It distinguishes itself as one of the first aggregator DEXs on Tron, optimizing token swaps to ensure users get the best exchange rates. The platform allows users to swap TRC-20 tokens seamlessly, providing DeFi functionalities like staking and liquidity mining.
Utility in the Tron Ecosystem and DeFi
SocialSwap.io enhances the Tron DeFi ecosystem by enabling users to trade tokens directly from their wallets without intermediaries. The DEX supports a range of DeFi activities, such as staking, where users can earn rewards by providing liquidity. Additionally, its aggregator function ensures that token swaps are executed at the best possible rates, providing users with a more efficient trading experience.
Token Utility
The platform's native token, Social Swap Token (SST), plays a central role in its ecosystem. SST is used for staking, liquidity mining, and governance. Holders can stake SST to earn additional tokens and rewards or participate in liquidity pools to enhance the platform’s overall liquidity. SST also grants users the right to vote on proposals, fostering a community-driven development model.
Milestones and Features
- Aggregator DEX: SocialSwap.io is the first to introduce an aggregator on Tron, which compares prices across multiple exchanges to ensure optimal user rates.
- Staking and Liquidity Mining: Offers various staking pools where users can stake SST or provide liquidity to earn rewards.
- Security: The platform’s smart contracts have undergone independent security audits, emphasizing user safety.
SocialSwap.io has positioned itself as a comprehensive DEX in Tron’s ecosystem by integrating advanced DeFi features, community engagement, and a secure trading environment.
PayNet Staking
PayNet Staking is a DApp on the Tron network that offers users an opportunity to stake TRX and other tokens to earn rewards. It is part of Tron's broader staking ecosystem, contributing to the network's decentralization and providing users with passive income through staking.
Utility in the Tron Ecosystem and DeFi
By offering staking services, PayNet enhances liquidity and security within the Tron network. Users can delegate their tokens to validators, helping to maintain the network's consensus mechanism while earning staking rewards. The platform plays a vital role in Tron’s growing decentralized finance (DeFi) landscape by allowing users to engage in a trustless staking environment with high transparency.
Milestones and Features
PayNet Staking has seen significant growth due to its user-friendly interface and competitive staking rewards. It is designed to provide a seamless staking experience for both novice and experienced users, supporting a variety of Tron-based tokens. PayNet also emphasizes security, with regular audits of its smart contract.
Transit Swap
Transit Swap is a decentralized exchange (DEX) aggregator that operates across multiple blockchains, including Tron. It facilitates cross-chain swaps by connecting top DEXs, ensuring users get the best rates for their token exchanges. Transit Swap offers seamless token swaps, bridging, and liquidity services, making it a critical player in the DeFi space by supporting efficient and secure transactions across various networks.
Utility in the Tron Ecosystem and DeFi:
Transit Swap adds significant value to the Tron ecosystem by enabling users to conduct cross-chain swaps, making assets more accessible across various networks. This functionality allows users on Tron to interact with tokens and liquidity on other blockchains like Ethereum, Binance Smart Chain, and others. Bridging assets across chains enhances the interoperability and liquidity of Tron’s DeFi ecosystem, making it easier for users to move assets between chains without relying on centralized exchanges.
Milestones and Features
- Aggregator DEX: Transit Swap aggregates liquidity from multiple decentralized exchanges to offer users optimal swap rates.
- Cross-Chain Bridge: Transit Swap provides cross-chain bridge services, allowing assets to flow smoothly between blockchains.
- Transit Swap 2.0: The recent upgrade to Transit Swap 2.0 has improved user experience, optimizing swap functionalities and cross-chain transactions and making it easier for users to navigate the platform.
Where to Buy TRX?
You can purchase TRX on both centralized exchanges (CEXs) and decentralized exchanges (DEXs).
Also, check out our top picks for the best crypto exchanges.
- Decentralized Exchanges (DEXs):
- JustSwap: A Tron-based DEX where you can swap TRX for other TRC-20 tokens.
- SunSwap: Another DEX on the Tron network allowing you to swap TRX for other Tron ecosystem tokens.
We also have an article on the best decentralized crypto exchanges.
Where to Store TRX?
You can store TRX in a variety of ways, including both online wallets and hardware wallets for added security.
- Online Wallets:
- TronLink: The most popular wallet for the Tron ecosystem, offering a Chrome extension and mobile app to manage TRX and interact with DApps.
- Trust Wallet: A multi-chain wallet supporting TRX, making it a good choice for users managing assets on multiple blockchains.
- Atomic Wallet: Offers staking and management of TRX alongside other major cryptocurrencies.
- Hardware Wallets:
- Ledger Nano S/X: A hardware wallet is known for its security, allowing you to store TRX offline and manage your assets via the Ledger Live app.
- Trezor: Another highly secure option that supports TRX via third-party integrations like TronLink.
Using a hardware wallet like Ledger or Trezor provides the highest level of security, while online wallets like TronLink are convenient for daily transactions.
Looking for the best hardware wallet? We've got you covered. Also, find out which wallets were included in our best Tron wallets article.
Best Tron DApps: Closing Thoughts
While Tron continues to grow and expand its ecosystem, it remains largely speculative, particularly with many of its DApps and tokens. The network's volatility and rapid pace of development contribute to excitement and risk. GameFi on Tron is especially strong, with multiple blockchain-based games showing potential for adoption and growth, thanks to Tron's high throughput and low transaction fees.
However, investments in the Tron ecosystem, including DeFi and gaming DApps, are generally considered high risk. The speculative nature of many of these projects and the volatility of TRX and related tokens make it crucial for investors to exercise caution. Despite its promising features, the Tron network still poses significant risks for those seeking long-term stability.
Frequently Asked Questions
DappRadar shows that there are hundreds of dApps on the Tron network, but only a few of them have active usage. This is measured by the number of Unique Active Wallets (UAW) associated with the dApp.
Tron is used for DeFi purposes such as transferring USDT from one wallet to another, casino-type gaming apps, and NFT-trading through its APENFT marketplace. Other dApps are slowly being built and which we showcased a few of those in this article.
A number of DeFi projects are built on Tron such as JustLend and SocialSwap.io Gaming dApps are also making their presence on the blockchain, whether it's MegaWorld from Ethereum or Tron's own TronVerse.
Tron has got as good a future as most blockchain projects that are out on the market. It has a thriving DeFi sector and the second-highest TVL aside from Ethereum. However, it still needs to attract more builders to build more dApps because a lot of the TVL is due to attractive yield, which may not be sustainable in the long run.
Tron is a decentralised blockchain network, similar to Ethereum. TRC20 is a type of token that is created on the blockchain network and can be used freely on it. The token type is based on the ERC20 token standard first unveiled on the Ethereum network.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.