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In the field of cryptocurrency, there is an underlying rule that learning accumulates in bear markets and cash is concentrated in bull markets. The same is true for public chains or project parties that carry the needs of many users. Only by working quietly and continuing to accumulate during the market downturn will they have a better chance of ushering in a strong explosion in the next big cycle. Perhaps it is a coincidence that during the recent market downturn, TRON, which has always attached great importance to ecological construction and blockchain technology innovation, officially announced the launch of the second season of the 2022 TRON Hackathon Competition. Not only did the total prize money double from last season’s US$500,000 to US$1 million, but it also cooperated with the DevPost platform, which is extremely influential in hackathon events, to comprehensively enhance the publicity and promotion of the competition in order to attract more high-quality blockchain developers to build new projects on the Tron and BTTC chains.  In fact, people who are familiar with TRON should know that the first season of the 2022 TRON Hackathon Competition was not unsuccessful. The event attracted the participation of more than 120 projects from all over the world. The four major track champions of Web3, NFT, GameFi, and DeFi finally stood out. Now they have also made quite constructive project progress and have very frequent linkages with Tron. Take JustMoney, the champion of the DeFi track, as an example. Its cross-chain bridge was officially launched last month, supporting the convenient and low-cost transfer of assets between TRON, BTTC, BNBChain and Polygon. In addition, the first season Web3 track champion also praised the event in the previous awards live broadcast, saying that the TRON Hackathon competition builds friendships among various teams. It is an excellent opportunity to increase visibility and obtain funds to help them develop rapidly. It can be seen that even in the offseason, the organizers and project teams are not idle. Now, with the restart of the second season, many new highlights and changes of the competition have also surfaced. First of all, in terms of the competition schedule, the project submission time has been greatly extended in the second season (May 16-July 25), which not only gives developers more time to prepare, but also allows organizers to receive more high-quality and mature projects. It is also worth mentioning that the second season is also open to Tron and existing projects on the BTTC chain that have major updates during the competition, which means that the "audience" of the competition will be broadened, and more outstanding developers and projects already in progress will have the opportunity to join the competition.  In terms of bonus settings, in addition to increasing the total bonus to US$1 million, the new mode that allows you to get up to two bonuses in one participation is also very attractive. According to the official information released by the event, in addition to submitting complete projects on DevPost, participants can also register on the TRONDAO forum and publish projects to the Hackathon2022 Season 2 category. In this way, the same project can participate in the DevPost Platform and TRONDAO Forum Awards at the same time, and win two awards at the same time, which is very friendly to high-quality participating projects. Not only that, since the evaluation dimension of the Forum Award includes the project's interaction with community members under forum posts, this will obviously also help to increase the activity of the TRONDAO community and make the world's largest DAO more dynamic and influential. For project parties, Tron’s global user base of more than 90 million provides them with an excellent opportunity to promote the project and accumulate the first batch of fans and users. So much so that Justin Sun, the founder of TORN, also called for the competition on his personal Twitter and wished the participants good luck and enjoy the competition.  To put it more bluntly, after achieving great success in the first season, TRONDAO and BTTC have actually erected the 2022 TRON Hackathon Competition. Nowadays, with the upgrade of the competition system, schedule, prize money and other aspects, as well as the addition of more top industry partners and professional judges, it is foreseeable that the second season of the competition will be more popular and popular. Looking back, from the official launch of the first season of the competition to now, Tron has made countless breakthroughs and progress. From a recent perspective alone, TRX’s strong performance during the downturn in the crypto market demonstrates its current recognition in the industry. According to CoinMarketCap data, the market had a comprehensive correction last week, and only TRX among the top fifty cryptocurrencies in the world achieved positive growth. Correspondingly, the market value of TRX has soared and is currently stable at around US$7 billion, ranking 14th in the industry. At the same time, according to DefiLlama data, the TVL of the Tron public chain has quietly climbed to fourth in the world, second only to Ethereum, BNBChian and Avalanche.  In terms of ecological layout, APENFT Marketplace, an important member of the TRON ecosystem, was launched last month, becoming an important infrastructure for efficient NFT trading on TRON.； BTTC has also recently continued to expand its "circle of friends", including KyberSwap, BitKeepWallet, HuobiWallet, etc. On the same day that the second season of the competition started, Tron DAO also announced the establishment of a US$10 million incentive fund to support Terra developers in migrating to the Tron ecosystem including Tron Network and BTTC, which will help Tron and BTTC attract more diverse developers. What’s more worth mentioning is that Tron has made a new entry into the key track of the stablecoin industry this month. Through Tron’s decentralized algorithm stablecoin USDD, it has further improved its layout and strengthened its leading advantage. On the one hand, as one of the focuses since last year, there is no reason for Tron to fall behind ； On the other hand, stablecoins have always been over-reliant on the risk of centralization, and after the industry develops to a certain stage, someone needs to step forward to solve it. As Justin Sun said, only purer decentralization can truly bring the global influence of blockchain to a new level. To a large extent, promoting stablecoins towards the 3.0 era and ensuring the standards of high speed, low fees, and high scale of stablecoins in a decentralized manner is a major goal of TRON in promoting USDD.  From the data point of view, half a month after USDD was launched, the current circulation volume is 330 million, corresponding to the destruction of more than 4.2 billion TRX. At this rate of development, USDD’s circulation has exceeded 1 billion, and it may not be too far away to break into the top ten stablecoins. This means that TRON will establish an extremely powerful stablecoin ecosystem, including the industry's largest stablecoin USDT, the second largest stablecoin USDC (the TRON version of USDC has recently been increasing in issuance and has exceeded 2 billion), the compliant US dollar stablecoin TUSD and the decentralized stablecoins USDD and USDJ. For TRON users and TRX holders, this is obviously more exciting and exciting. After all, the deflation intensity of TRX will be unprecedentedly strengthened with the issuance of USDD, and will eventually be reflected in the currency price.  Source|Network Editor | Black Reviewer | Lin Danke  Disclaimer: Investment involves risks, please be cautious when entering the market. This information is not intended as investment and financial advice.  |
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