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- Justswap is the first decentralised token exchange protocol on the TRON network.
- The newly launched exchange supports crypto assets like TRX, JST, USDT and a handful of ERC-20 tokens.
- TRX’s value peaked at $0.03250 which is almost 62.5% more than the previous levels.
TRON’s very own crypto exchange, Justswap is live now. Apparently, Justwap is the first decentralised token exchange protocol on the TRON network. As per JUST’s announcement tweet, Justswap is set to offer infinite liquidity. It is fast and convenient and accessible to everyone.
Justswap Currently Supports TRX, JST, USDT and a few ERC-20 tokens
As the name suggests, Justswap is the TRON’s version of the Uniswap cryptocurrency exchange. Currently, the newly launched exchange supports crypto assets like TRX, JST, USDT and a handful of ERC-20 tokens. As mentioned by Justin Sun, the Ethereum gas fees have exploded and are increasing day by day. This is because of the growing DeFi craze. However, DeFi on TRON platform is 200 times faster and has relatively lower fees than that of Ethereum’s and in addition, provides instant settlement. Sun also added that USDT TRC20 and DApps is the best and DeFi developers looking for better outcomes must use the TRON platform.
Justswap Will Allow Users to Become Liquidity Providers
This newly launched protocol will enable the users to qualify as liquidity providers. For their every effort, they will be awarded with trading fees and mining rewards. This way more and more TRX and TRC 20 holders will be attracted to use Justswap exchange in place of other crypto exchanges. Moreover, the Justswap exchange will be a crucial project for TRON’s JUST DeFi protocol.
As we know, JUST holders use TRX tokens as collateral in order to borrow USDJ assets. With the launch of JST’s first ever decentralised exchange and the two tokens in circulation, Justswap will provide a suitable decentralised environment for the users.
TRX’s Price Dives Just Before the Livestream
To some extent, the announcement and launch of Justswap has had an impact on TRX’s price. Since 13th of August, TRX has been trading on the $0.20 levels. However, yesterday TRX’s value peaked at $0.03250 which is almost 62.5% more than the previous levels. However, soon its price plummeted by 12% to $0.0286 just before the Justin Sun Livestream. Currently, it is trading at $0.02735207. This isn’t a surprise because there have been previous instances in the past where TRX’s price tends to fall before any major flagship event. A similar thing happened during the launch day of TRON’s mainnet.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
