New Tron-based DeFi products are emerging on the decentralized finance scene according to the latest announcement by Justin Sun, as we are about to find out more in the upcoming Tron news.
Tweeting a day ago, the Tron CEO announced three new Tron-based DeFi products: Just Swap, Just BTC, and Just Lend. According to him, the Just token will serve as a native coin for the entire TRON ecosystem. As a part of the tweet, he revealed that “Just Lend” will enable Tron users to earn interest or borrow assets against the collateral. Just Swap will be fully decentralized on-chain protocol while Just BTC will be a TRC20 token pegged to Bitcoin 1:1. He added:
(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
“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.”
The latest announcement came amid the strong interest in the Defi ecosystem with ETH-based protocols stealing the headlines. Sun is known as a highly polarizing figure in the industry because he joins popular crypto bandwagons. The CEO announced Djed back in March which is a stablecoin backed by the US dollar. Most of the critics stated that it was similar to the ETH-based Defi lending protocol MakerDAO and that Djed was not unique.
Our original version of the whitepaper is in Chinese and we have a very detailed reference to the latest Chinese version. The English, Korea, Japanese and Spanish versions are translated by the volunteers. The translation missed numerous important details not just reference.
— Justin Sun (@justinsuntron) January 8, 2018
Some crypto commentators accused Sun of copying ideas from other interesting projects. Some even say that the entire whitepaper is plagiarized. Sun however stated that the original document was written in Chinese and that the translation process lacks key vital elements. In the meantime, the ETH-based DeFi ecosystem continued to make headlines. Nexus Mutual, the decentralized platform that covers users against vulnerabilities found in smart contracts, released a new staking system “Pooled Staking” which will offer better stakers incentives.
During the major boom in the Defi ecosystem, the reports show that crypto data aggregator CoinMarketCap created a new section for the Defi market. Liquidity mining on protocols such as Balancer and Compound, attracted huge interest among the crypto industry participants even as the Defi total locked value reached $1.8 billion. Privacy smart contracts are the new center point on TRON 4.0 as the CEO of Tron Justin Sun took it to Twitter to pitch the new release calling it the era of the Great Voyage
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