Justin Sun Appears at KBW 2025: Decentralized Finance Will Become the Cornerstone of the Global Financial System

The 2025 Korea Blockchain Week (KBW) was grandly held in Seoul. As one of the most influential blockchain industry events in Asia and even globally, KBW attracts industry leaders, investors, developers, and policymakers from around the world every year to discuss the latest developments and future directions of blockchain technology, the cryptocurrency market, and decentralized finance (DeFi). At this year's event, TRON founder Justin Sun attended as a special guest and shared his deep insights into the future of cryptocurrency in multiple fireside chats. The discussions revolved around decentralized exchanges, stablecoins, industry risks, and global financial visions, and Justin Sun's remarks attracted widespread attention.

On the KBW stage, Justin Sun not only showcased the latest progress of TRON but also shared his in-depth thoughts on the industry. From breakthroughs in the efficiency of decentralized exchanges to the transparency and censorship resistance of the decentralized stablecoin USDD, from challenges in security and leverage to the practical implementation of inclusive finance, he consistently emphasized one belief: cryptocurrency is not a tool for short-term speculation, but the next-generation financial infrastructure that can serve hundreds of millions of users worldwide and support the future economic system.

The New Landscape of Decentralized Exchanges and Capital Efficiency

Reviewing TRON's recent key developments, Justin Sun first mentioned that in September this year, the TRON ecosystem officially launched its first decentralized perpetual contract exchange, Sunperp. He pointed out that the decentralized derivatives market has developed rapidly over the past two or three years, but there has always been a core issue—insufficient efficiency. Many platforms lag far behind centralized exchanges in terms of latency, operational complexity, and capital utilization, resulting in a poor user experience.

TRON hopes to change this situation with the new DEX. With about 80 billions of dollars in deposited funds on the network, the new platform can unleash large-scale liquidity resources, allowing users to experience trading speed and convenience on-chain that is close to centralized platforms. He emphasized that TRON has a unique advantage in stablecoin settlement: users can directly use USDT to settle between different tokens within a single block. This not only significantly improves capital efficiency but also makes on-chain trading more efficient and smoother.

Justin Sun further pointed out that the significance of perpetual contracts lies not only in providing trading channels for users but also in improving the overall utilization efficiency of funds. Through such products, the depth and breadth of the on-chain derivatives market will be expanded, injecting new vitality into the entire industry.

The Decentralized Advantages of USDD and the Global Application of Stablecoins

When talking about stablecoins, Justin Sun turned the topic to USDD in the TRON ecosystem. He stated that while centralized stablecoins such as USDT and USDC have already taken a dominant position, USDD's competitive advantage lies in its decentralization and transparency. All collateral and liquidation processes are executed in real time on-chain through smart contracts, and users can verify the collateral and liquidation status at any time.

Unlike centralized stablecoins that rely on custodian banks and audit reports, USDD adopts an over-collateralization mechanism, usually ensuring a level of 120% to 130%, thereby ensuring system robustness. At the same time, the positions of different users are isolated from each other, so even if individual positions are liquidated, it will not cause systemic risk to the entire system. In his view, decentralized stablecoins are not only payment tools but also the core support for future decentralized derivatives and financial infrastructure.

He emphasized that the significance of stablecoins has gone beyond the cryptocurrency market itself and is becoming an important tool for real-world financial activities. In emerging markets such as Latin America, users can already use USDT to directly purchase cars, demonstrating the potential of stablecoins in daily life. For many countries that find it difficult to open US dollar accounts, stablecoins provide them with a zero-threshold "digital dollar account," truly realizing inclusive finance. According to TRON's data, the number of user accounts has now exceeded 300 millions, with more than 300,000 new accounts added every day, and it is expected to increase by another 100 millions next year. Justin Sun believes this is an important step for blockchain to promote the democratization of global finance.

Security, Leverage, and the Long-term Vision of Future Finance

On a more macro level, Justin Sun talked about the positioning of cryptocurrency in the global financial system. He believes that the essence of the crypto industry is an extension of the financial industry and is the infrastructure on which all future industries will depend. "Just like today's Nasdaq and NYSE, whether it is a technology company or a traditional enterprise, they ultimately need financing and settlement. Cryptocurrency is the new financial vehicle that provides this service," he said.

However, he also admitted that the industry must face two major challenges as it moves forward: security and leverage. Five years ago, the TRON team had to deal with new hacker attacks almost every month. Although the situation has improved now, security is still the foundation on which the blockchain industry survives. Leverage is a "chronic problem" in financial markets and also exists in the crypto world. Excessive leverage can lead to individual users being liquidated and even impact the entire ecosystem. Therefore, he believes that finding a balance between capital efficiency and risk control is the key to whether the industry can develop healthily in the long term.

Looking to the future, Justin Sun revealed that he is advancing a new project. This decentralized product will allow users to access multiple crypto assets simultaneously, not only enhancing the valuation potential of assets but also maintaining decentralization. Reflecting on TRON's development over the past three years, he said the team has always insisted on delivering new products and driving industry growth. By the end of this year, TRON will also launch more new features to maintain continuous innovation and vitality in the ecosystem. "Our strategy is very clear, which is to keep building, keep innovating, and seize new opportunities at critical moments," he said.