Justin Sun announced three upcoming DeFi products from Tron

Justin Sun seems to want to see Tron stand out in the emerging decentralized financial environment (DeFi).

Justin Sun recently took to Twitter to announce his company’s foray into the decentralized finance space

According to Justin Sun tweeted on July 3, 2020, CEO Tron announced three new DeFi products. Includes JUST Lend, JUST Swap, and JUST BTC. According to Sun, the JUST (JST) will act as a separate currency for the TRON ecosystem.

Sun revealed that JUST Lend would allow TRON users to earn interest or borrow money on collaterals. JUST Swap will be a fully decentralized on-chain protocol for token exchange, while JUST BTC will be a TRC20 token pegged to Bitcoin 1: 1.

Tron CEO stated:

“We can’t wait to see the series of JUST products’ all-rounded empowerment, community governance, and fully shareable dividend integrated into the #TRON DeFi ecosystem. ”

This announcement comes amid the storm of interest in the DeFi ecosystem with ETH-based protocols. Meanwhile, in March 2020, Sun announced the Djed project, a stablecoin project backed by the U.S. dollar.

Many critics claim that it is similar to the popular DeFi lending protocol based on ETH, MakerDAO, and there is nothing unique about the Djed project. Many critics stated that it was identical to popular ETH-based DeFi lending protocol, MakerDAO, and there was nothing unusual about the Djed project. Never far from a criticism, some crypto commentators have accused Sun of copying ideas from other projects. Even the Tron whitepaper is registering plagiarized. However, Sun stated that the original document was written in Chinese, and the translation process missed vital elements.

Meanwhile, the ETH-based DeFi ecosystem continues to generate the right signals. During the explosion of the DeFi ecosystem, the CoinMarketCap cryptocurrency data platform created a separate section for the DeFi market. Liquidity mining on protocols like Compound and Balancer has attracted significant interest among industry participants even as the DeFi total locked value (TVL) is now worth over $ 1.8 billion.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS