Different blockchain ecosystems are competing for mainstream traction. According to Justin Sun, TRON will get some action in this segment as well. Three new products will be launched in the coming months.
Expanding the DeFi Options
With Ethereum being the leading decentralized financial ecosystem, it was a matter of time until other blockchains tried to get in on the action. Doing so in a successful manner will not be easy. TRON creator Justin Sun is confident that his network will cater to this particular crowd.
Three new services have been announced. They will all make use of the JUST layer, which was introduced not long ago. It is through JUST that the USDJ stablecoin was created, as it is pegged to the US Dollar. Bringing more products and services to this DeFi layer is crucial to keep the momentum going.
Three new Services are Coming
If Justin Sun is to be believed, three new decentralized finance services will be launched.
One will focus on lending, and is dubbed “JUST Lend”. For Tron users, it will apparently become possible to earn interest or borrow assets against collateral.
Second, there is “JUST Swap”, a centralized on-chain protocol for token exchange. Again, a direct copy of something already exists, but simply for a different blockchain.
Last but not least, TRON will get its own version of Wrapped Bitcoin. Referred to as “JUST BTC” it will use the TRC20 token standard. A bit of an odd name, and one that will certainly irate Bitcoiners.
(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
Not the most original ideas, but that isn’t a requirement to be successful in DeFi either.
For the time being, no official launch dates have been announced. Nor is there a specific order in which these products will hit the market either. Competing with other DeFi solutions on the market will pose ample challenges.
As none of these three services offer anything unique, it remains to be seen if there will be any buzz at all.