The post Tron Struggles to Attract Classic Protocols Amid Bridging Challenge appeared on BitcoinEthereumNews.com.

Tron Army laments the lack of classic DeFi protocols and bridging solutions. The community suggests improvements and highlights trust issues. Justin Sun commits to enhancing DeFi capabilities on Tron. Tron, a leading blockchain platform, is facing scrutiny from its community over the integration of decentralized finance (DeFi) protocols and the overall functionality of its network. Despite being known for its fast transactions, Tron has encountered challenges related to DeFi adoption. In a recent post on X, PaperImperium questioned the absence of classic DeFi protocols on Tron. They noted the difficulties in bridging to the network, which largely relies on centralized swaps rather than decentralized solutions. As a potential solution, a commenter suggested using Allbridge to swap to Tron USDT but noted issues with liquidity for transactions exceeding $1 million. Meanwhile, Tron founder Justin Sun has acknowledged the issue raised by PaperImperium. He responded by indicating a commitment to addressing the concerns. “This is indeed where our work should focus,” Sun remarked. Notably, community members have proposed various solutions to improve Tron’s ecosystem. X user “TCB” suggested connecting Tron to the broader DeFi space using THORChain, advocating collaboration with Nine Realms (9r) to facilitate a quick integration. Other community members share this view, recommending THORChain as a potential DeFi hub for Tron. However, commenter Deelab highlighted several issues, including the lack of bridging liquidity and options on Tron, where most liquidity consists of USDT, predominantly utilized by centralized exchanges and their users.  In his view, this situation results in Tron’s on-chain activity being more CEX-focused rather than involving genuine DeFi users. Deelab also raised concerns about safety and trust issues, such as the removal of transactions from Tronscan by the Tron Foundation, which could create a challenging environment for DeFi protocols. Other community voices have pointed out technical challenges. Joxes.eth mentioned…

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Filed under: News - @ August 10, 2024 9:16 pm