- The CEO of TRON, Justin Sun has announced on Twitter that they will launch three new Decentralised Finance products soon.
- The first product, ‘JUST Lend’ a platform where TRON users will be able to borrow and lend against collateral.
- Second is ‘JUST Swap’ entirely a decentralised on-chain protocol for exchange of tokens.
- Third is ‘JUST BTC’ a TRC-20 backed by Bitcoin.
The CEO of TRON, Justin Sun has announced on Twitter that they will launch three new Decentralised Finance (DeFi) products soon. In his tweet he further explained the products. The first product, ‘JUST Lend’ a platform where TRON users will be able to borrow and lend against collateral. Secondly, ‘JUST Swap’ entirely a decentralised on-chain protocol for exchange of tokens. And finally, ‘JUST BTC’ a TRC-20 backed by Bitcoin.
(1/3) JUST DeFi team will launch 3 new DeFi products: (1) “JUST Lend”- place where TRON users can earn interests or borrow assets against collateral (2) “JUST Swap-a fully decentralized on-chain protocol for token exchange (3) “JUST BTC”-a TRC20 token backed 1:1 by Bitcoin.
— Justin Sun (@justinsuntron) July 3, 2020
Jst Token The Primary Token For The Tron’s Defi Ecosystem
Sun also confirmed that the JST token will become the primary and most important token of the TRON’s DeFi platform. It will initiate decentralised loans as well as decentralised trades and will also facilitate cross-chain transactions.
Few months ago, on April 4, 2020 Sun had tweeted that its stablecoin project’s test known as Djed was successfully completed. Sun also explained that the platform’s token would be named $JST and its respective stablecoin would be named as $USDJ. Djed was a US backed stablecoin project and it was designed in such a way that it would become the main part of the TRON’s DeFi ecosystem. Soon after he announced that he has replaced the Djed Decentralised Finance project to a new JUST for launching the platform’s mainnet which is said to be very similar to MakerDAO’S DeFi platform.
Users Can Stake Trx Stablecoins To Gain USDJ Stablecoin
The TRON team on the launch of it’s DeFi mainnet said that JUST meant fair and just. Hence they were focused on building such a stablecoin transaction platform where everything is based on contracts. Similarly, like other DeFi projects this would enable the users to participate and demand full autonomy in the governance of this new USDJ decentralised system.
This would guarantee true justice and fairness just like the literal meaning of the project. Further, it will allow the users to stake their TRX stablecoins which in turn gain income in the form of USDJ stablecoin but passively. With the USDJ gained the users can now easily use it directly from their wallets.
USDJ To Be Supported By Poloniex Crypto Exchange
As of now the only exchange which supports the TRON’s stablecoin USDJ is the Poloniex crypto exchange . However, it is expected that soon many popular exchanges will adopt this new stablecoin. The launch of the new services by the TRON mainnet makes it obvious that DeFi protocols are taking over the cryptocurrency industry. Furthermore new Blockchain platforms are trying to implement them as much as possible.