Team TRON Works on Its First DeFi Application
In a big announcement, TRON ventures, also known as TRX, decided to venture into Decentralized Finance or DeFi with its innovative dApp called JUST.
DeFi has already emerged as one of the 2020’s most awaited use cases of cryptocurrencies and blockchain. Now the main goal of DeFi is to transform how borrowing, lending, saving, and investing are performed at the blockchain via the usage of smart contracts. Earlier, all applications of DeFi were established on the Ethereum network.
But, the TRX’s team did not leave any stone unturned to work hard with their own DeFi solution earlier known as Djed.
Djed, also known as the testnet of the TRON stablecoin framework, has managed to finalize the testings. With the latest announcement, it has taken the decision to upgrade the brand from Djed to JUST and already introduced the mainnet on April 4, 2020.
Earlier today leading tech entrepreneur and founder of cryptocurrency platform TRON Justin Sun has made the announcement of rebranding the Djed to JUST to mark the Mainnet launch of the platform.
The team has also explained why they decided to name JUST for the platform. JUST signifies “fair and just.” JUST foundation has the goal of establishing a TRON based stablecoins lending platform where the participants can take part in controlling the USDJ currency system and accomplish decentralized autonomy. It strives to guarantee true justice and impartiality. If users desire to unlock the collateral, the debt needs to be paid by using USDJ and a stability fee paid with JST token.
JUST dApp came into existence in the year 2018. It can be summarized that TRON and its followers feel that DeFi will soon become a reality on the network. TRON and dApp are gradually gaining the limelight in the decentralized world.