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Brief Analysis of Messari’s Q1 2023 State of TRON and USDD Reports

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Geneva, Switzerland–(Newsfile Corp. – May 12, 2023) – Messari, a leader in crypto market research and intelligence, recently released reports on both the USDD stablecoin as well as the TRON blockchain ecosystem. “The TRON DAO team appreciates Messari’s work overall, and like normal, its objective research in these latest TRON-related reports offers data-driven, insightful remarks,” a TRON spokesperson commented.

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State of USDD Q1 2023

USDD is an overcollateralized stablecoin managed by the TRON DAO Reserve (TDR). The number of USDD holders consistently remained above 130,000 in Q1 2023. The quarter also saw USDD expand its reach through various partnerships, and integrations with platforms like SwapFish, LayerZero Labs’ Aptos Bridge, and SushiSwap on the BitTorrent Chain (BTTC).

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State of TRON Q1 2023

The TRON ecosystem overall held steady in Q1 2023.

There was a growth of 193,000 new accounts per day, surpassing the 12-month average of 172,000. Daily transactions grew by 7.7%, and TRON’s deflation rate was around 1% in Q1. Additionally, TRON’s position in the stablecoin landscape remains substantial, second only to Ethereum. The network’s integration with platforms like Blockbank, Fireblocks, and Uphold has improved access to the ecosystem, while initiatives like the TRON Climate Initiative and TRON Academy highlight its commitment to sustainability and next gen education.

Other highlights of note from the TRON report were:

  • JustLend and JustStables benefited from the market rebound throughout Q1 as both were up QoQ (26% and 21%, respectively)
  • TUSD value on the network grew by 420% QoQ to ~$1.3 billion
  • Average amount of stake for Energy increased by 37.8% QoQ
  • Technical developments advanced steadily
  • TRON initiated developments to expand DeFi, including liquid staking and a decentralized resource marketplace.
  • While USDT maintained 95% of the stablecoin value on TRON, there was a notable uptick in TUSD.
  • TRON positioned itself in the AI space by partnering with Oraichain and launching a $100 million AI development fund.

TRON looks to remain competitive and continue its growth strategies to expand DeFi, stablecoin adoption, AI, and other use cases through 2023.

Contact Details
Hayward Wong
[email protected]

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165862

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Switzerland Regulatory Technology Business Report 2024: Market to Surpass $550 Million by 2029, Driven by Collaborative Opportunities and Data Privacy Solutions

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Swiss RegTech Market

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Blockchain

Blockchain Life 2024: The Visionary and Tectum CEO Alex Guseff Among Featured Speakers

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Blockchain

DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla

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Following a management buy-out by the management team at TOKO FZE, the business has been rebranded as Scintilla, the revolutionary platform providing on-chain solutions and services to make investments more inclusive, accessible, and efficient. Having been developed within DLA Piper’s Law& innovation portfolio, TOKO – now Scintilla has a fresh brand identity, new leadership, and innovative product offerings. Scintilla is set to reshape the future of finance by enabling businesses to unlock the power of blockchain technology across various asset classes, with DLA Piper remaining as a minority shareholder.

Regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), Scintilla is one of the first digital asset companies to gain full market licenses, marking a significant milestone in the sector’s landscape. Being a regulated entity underscores Scintilla’s commitment to the highest standards of compliance and security while pioneering new solutions for tokenization in the global market.

Innovating Finance Through Tokenization

Scintilla offers a comprehensive suite of tokenization services designed to bring liquidity, transparency, and efficiency to traditional finance sectors. From tokenized financial products, and real estate all the way to new legal funding products, Scintilla’s digital asset solutions enable clients to tokenize assets that were previously inaccessible to investors or illiquid.

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Scintilla’s services include:

Advisory Services: The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.

Use Case Development: Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.

Broker/Dealer Services: Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.

Exchange Services: Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.

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Scintilla is uniquely positioned to capitalize on the confluence of Dubai’s world-leading regulatory environment, cutting-edge technology, and the burgeoning RWA market.

A New Era for Scintilla

The relaunch of Scintilla represents more than just a rebranding—it signifies the company’s growing ambition to lead in the digital asset space. With an expanded team of industry experts, including continuing Board representation from DLA Piper, and a clear strategic vision, Scintilla is set to drive the adoption of tokenization in traditional financial markets.

“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”

Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience, DLA Piper added: “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”

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The post DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla appeared first on HIPTHER Alerts.

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