Tron-based automated liquidity protocol, JustSwap has clocked in more unique active users in its platform than the Polygon-based decentralized exchange, QuickSwap. For the longest time, QuickSwap has held the second position in DappRadar exchange rankings in terms of users.
However, according to the latest chart by the digital analytics firm, JustSwap has managed to “swoop in and replace it.” Over the past 30 days, DappRadar revealed that the Tron-based decentralized trading protocol has drawn almost 200,000 unique users. QuickSwap, on the other hand, saw a little more than a 1% increase in the number of users interacting with its smart contracts.
Meanwhile, the number of transactions on the Tron-powered platform surged considerably to more than 550,000. This trend was indicative that on average, users conducted approximately 2.8 transactions. It was quite a feat for JustSwap since Polygon has rapidly amassed a lot of users under its hood as it shot to fame this year.
In the past month, JustSwap facilitated more than $300 million through its smart contracts. However, even as the users and the number of transactions rose, the two indicators had little effect on the volume which saw a drop of more than 50%. Besides, Tron-based platforms are becoming rapidly popular. As a matter of fact, three out of the top seven DEXs for the period are Tron-based when ranked by unique active wallets.
Tron, Ethereum, Polygon, Solana, the list goes on
As Proof-of-Stake [PoS] consensus gained traction, blockchains have also been increasing along with it.
The market for competing blockchains has never been more crowded and complex before. Numerous platforms are now offering variations on the same products, while others have come up with unique offerings. The shift from the dominant Ethereum has been transparent because of its perennial congestion issues and high gas fees. Apart from Tron, there are several other blockchains that have quickly emerged as viable alternatives for the Ethereum network. Some of which are Cardano, Tezos, EOS, Solana, Algorand, NEO, and Avalanche, among others.