SUN Holds Firm in Second Place in Tron’s TVL Rankings, Just Behind JustLend

SUN serves as a platform for swapping, yield farming, and self-governance within the Tron network, maintaining its status as the second-largest protocol by total value locked (TVL) on the blockchain. It sits just behind the prominent lending platform, JustLend.

Currently, SUN has around $985 million secured, representing a substantial portion of Tron’s liquidity.

The reported growth is largely due to user trust in its liquidity pools and incentive structures. In the last two weeks, SUN’s TVL has risen by $38 million, indicating consistent user engagement. Notably, newer versions such as SunSwap 2 and SunSwap 3 are drawing more trading volume compared to the initial SunSwap 1.

According to reports, various elements are fueling this growth trend, including attractive farming incentives, reliable returns from liquidity provision, and a comparatively lower risk profile than lending platforms. SUN’s increasing significance as a liquidity foundation for important Tron trading pairs is enhancing its attractiveness. This upward momentum underscores its essential role in maintaining the ecosystem’s overall health.

If this trajectory persists, SUN could potentially alleviate the current reliance on JustLend, fostering a more balanced decentralized finance (DeFi) landscape on Tron. Should this growth pattern remain consistent, SUN is likely to capture a larger share of the TVL, which may, in turn, help reduce the existing concentration in JustLend.

Looking at the broader picture, Tron has transitioned from being centered around USDT to developing a vibrant DeFi ecosystem in 2024. While USDT continues to be a key player, emerging platforms like SunSwap and SunPump have significantly enhanced decentralized activity.