The CEO of Tron, Justin Sun on April 4, revealed via a<a href="https://btcmanager.com/tron-justin-sun-defi-platform-just-mainnet/?q=/tron-justin-sun-defi-platform-just-mainnet/&amp;"> tweet </a>that the Just DeFi platform, the testing of former Djed’s stablecoin has finished successfully. Moreover, through a fresh update, Justin Sun revealed that he had rebranded the Djed DeFi project to JUST marking the launch of the project’s mainnet.

TRON’s stablecoin launches at a time when the adoption of DeFi products is in demand. As a decentralized web-based network, JUST will have to rival the other DeFi projects in the cryptocurrency market.

During late March, the Tron founder, <a href="https://www.cryptoknowmics.com/crypto/justin-sun-reveals-his-two-other-crypto-investments-and-its-surprising/">Justin Sun announced</a> the launch of Djed, now JUST. The project is the MakerDAO DeFi version of Tron. Sun noted that the Tron stablecoin will be backed by the United States dollar. In fact, the development of JUST is a massive milestone in supporting Tron’s DeFi ecosystem.

Moreover, according to Justin Sun’s announcement, the JUST platform’s native token will be defined by the ticker  $JST. On the other hand, stablecoin’s ticker will go at $USDJ. Additionally, the tweet indicated that the JUST mainnet was launched on April 4.

Speaking on the rebranding of the DeFi project, the Tron development team said:
<blockquote>“JUST means “fair and just”. JUST Foundation aims to create a TRON-based stablecoins lending platform where everything is contract-based, any JST holders can participate in governing the USDJ currency system and achieve decentralized autonomy, where true justice and fairness can be guaranteed.”</blockquote>
<h2>Why JUST DeFi platform?</h2>
Basically, JUST’s objective is to grow the adoption of Tron’s TRX token by enabling investors to passively earn USDJ by staking TRX. The USDJ earn will be via Collateralized Debt Positions (CDPs); meaning once investors have accumulated sufficient USDJ token, they can redeem them into their wallets.

USDJ has already begun a business with it is first listed in <a href="https://www.cryptoknowmics.com/crypto/tron-colluded-with-binance-huobi-and-poloniex-to-captivate-steemit/">Tron’s</a> own Poloniex exchange. However, it is likely that the stablecoin will receive support from major exchanges very soon. Decentralized finance has received a lot of traction within the cryptocurrency space via its decentralized apps and its future looks much bright.

You May Also Read.
<ul>
 	<li><a href="https://www.cryptoknowmics.com/news/chainalysis-report-decoding-bitcoin-crash-amid-corona-epidemic/">Chainalysis Report: Decoding Bitcoin Crash Amid Corona Epidemic</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/scammers-swindle-2m-from-panicking-public-amidst-coronavirus-fears/">Scammers Swindle $2M from Panicking Public amidst Coronavirus Fears</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/coronavirus-will-not-affect-shelley-mainnet-roll-out-cardano-founder/">Coronavirus will not affect Shelley mainnet roll out Cardano founder</a></li>
</ul>

Justin Sun unveils JUST DeFi platform and Mainnet

The CEO of Tron, Justin Sun on April 4, revealed via a tweet that theJust DeFi platform, the testing of former Djed’s stablecoin has finished... %

I'm a believer in decentralization. An enthusiastic author, web geek &amp; writer with experience writing for tech, digital, and cryptocurrency blogs.

Justin Sun unveils JUST DeFi platform and Mainnet

Top Picks