Last update:
June 26, 2023, 6:55 a.m. EDT | 1 minute read
To expand its decentralized finance ecosystem, major blockchain platform Tron has announced the launch dates for two more products – both of which are scheduled to release in a month.
Justin Sun. Source: a video screenshot, Youtube, Tron
Tron (TRX) founder Justin Sun announced three “exciting” decisions on Twitter that he said were made today:
- JUSTswap will launch on August 17th
- JUST Stablecoin (USDJ) and JUST (JST) yield farming will launch on August 31st
- TRON will officially launch a blockchain oracle.
It was not specifically stated when the oracle would be brought into being. Sun said only that this would happen “soon.”
Tron’s decentralized finance ecosystem called “JUST DeFi” has been in the works for some time. The products to be introduced into the ecosystem were announced by Sun in early July.
At the time, he described JUSTswap as “a fully decentralized on-chain protocol for token exchange,” and today he called it Tron’s version of Uniswap, a decentralized exchange (DEX) in the form of two smart contracts hosted on Ethereum Blockchain and a public open source frontend client.
Additionally, yield farming is currently a strong focus in DeFi, with the recent growth of COMP and BAL governance tokens and reinforced by liquidity mining. While there's no way to know if it's just a fad or a survival strategy, it seems Tron wants a piece of that pie too while it's still a thing in the cryptosphere.
And it's no surprise that the company is looking to expand within DeFi. It is currently a very active space, having reached a total value of $3 billion less than a month after reaching $2 billion.
In addition to DEX for JUST DeFi, Sun also mentioned the products “JUST Lend,” where TRON users “can earn interest or borrow assets against collateral,” as well as “JUST BTC,” explained as a TRC20 token backed 1:1 by Bitcoin is (BTC).
In addition to USDJ and JST, Tron partnered with Tether in 2019 and launched USDT as a TRC20 token on the Tron blockchain.
As Dogecoin (DOGE) grew in popularity on TikTok, Sun announced that the company would focus more on the video-sharing platform.
Currently (12:16 UTC), TRX, ranked 18th by market cap, is trading at $0.0176, up more than 1% in a day. It remained unchanged in a week.
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