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Friday, 25 June 2021, 13:00 HKT/SGT
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Source: Moonstake
Moonstake Partners with TRON Foundation to Enable TRX Staking and Explore Opportunities in DeFi

SINGAPORE, June 25, 2021 - (ACN Newswire) - Today, Moonstake announces it has entered into a strategic partnership with the TRON Foundation that develops one of the world's largest blockchain-based operating systems, the TRON Protocol.


Through this partnership, Moonstake aims to enable staking of TRX coin, TRON's native token, on its wallets and the two sides will collaborate on community building and marketing activities to promote adoption of the TRON and Moonstake ecosystems. Moonstake and TRON are also looking into further collaboration opportunities in the DeFi sector, as TRON is one of the most prominent blockchains in the DeFi space due to highly optimized transaction fees. Since March this year, Moonstake has officially entered DeFi together with the newly launched DeFi platform, Muse.Finance, who has begun releasing its core products and recently started its lockdrop for early adopters.

Moonstake launched its staking business in 2020 with the aim to create the largest staking network in Asia. Since then, it has developed the most user-friendly Web Wallet and Mobile Wallet (iOS/Android) with support for over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach $1 Billion, allowing Moonstake to become one of the top 10 staking providers globally. Currently, Moonstake supports 12 high-demand staking coins: Cosmos, IRIS, Ontology, Harmony, Tezos, Cardano, Qtum, Polkadot, Quras, Centrality, Orbs, and IOST.

Meanwhile, TRON is a market-leading blockchain well-known for its large and highly active community of users and developers from all over the world, dedicated to the establishment of a truly decentralized Internet and its infrastructure. The TRON Protocol, one of the largest blockchain operating systems in the world, adopts an energy efficient dPoS consensus mechanism to provide high throughput, high scalability, and high availability for decentralized applications in the TRON ecosystem through collaboration with key business partners including global tech giant Samsung, Opera, BitTorrent, Poloniex, Swisscom Blockchain, and many more. It is one of the fastest growing DeFi ecosystems on the market, currently boasting more than 40 million user accounts and over 2 billion cumulative transactions. Additionally, Tron based TRC20 protocol hosts the largest circulation of stablecoin globally with nearly 34 billion USDT at present. Its native coin Tronix (TRX) can be used to pay for a robust range of decentralised content and application services on the network.

Mitsuru Tezuka, Founder at Moonstake, says: "We are deeply honored to become partners with TRON, an industry-leading blockchain with a global-scale community of highly active users and developers. TRON is one of the fastest-growing ecosystems in the market with a truly impressive growing volume of transactions and a vibrant ecosystem of DApps especially in the DeFi space. We hope to accelerate global adoption of the TRON network and DeFi services, as well as scale both of our growing ecosystems together."

Justin Sun, CEO of TRON Foundation, says: "TRON staking is growing strongly and we're glad to partner with Moonstake, one of the top 10 staking providers globally, to further accelerate adoption of TRX. Since TRON's initiative is also to go "All In on DeFi", we're also happy to explore deeper collaboration opportunities with Moonstake in the field of decentralized finance and strongly boost the great growth of our DeFi ecosystems together."

The partnership with TRON is another important strategic addition to Moonstake's growing partner network. We look forward to bringing better value to our user communities and the crypto space as a whole, as well as deeper collaboration in the fields of staking and potentially, decentralized finance.

About Moonstake

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.

Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnerships have been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore-listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey.

With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 1 billion. https://www.moonstake.io/

About TRON

TRON is dedicated to accelerating the decentralization of internet through blockchain technology and dApp use cases. Founded in September 2017 by Justin Sun, Tron has since achieved a number of milestones, including MainNet launch in May 2018, network independence in June 2018, and TRON Virtual Machine launch in August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized P2P services boasting approximately 100M monthly active users globally. https://tron.network/

Topic: Press release summary
Source: Moonstake

Sectors: CryptoCurrency
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