Justin Sun TRON (TRX) decentralized finance (DeFi) platform JUST Mainnet is now live. According to a tweet dated April 4, the testing was successful. Initially, the Djed project, the change of branding has caught many followers by surprise.
The stablecoin supporting platform comes at a time when the DeFi adoption is on the rise. A decentralized web based ecosystem, TRON’s JUST will compete with other DeFi projects in the digital money markets.
Justin Sun TRON and Djed Rebranding
In his tweet, Sun, the TRON (TRX) CEO and founder indicated that he has rebranded the newly launched DeFi platform from project Djed to JUST as a way of marking the launch of the Mainnet.
Towards the end of March, Sun had announced launching Djed which is now JUST. However, market experts say the project is similar to the MarkerDAO DeFi outfit. The CEO has clarified that JUST will be backed by the USD. The creation of a stablecoin is a huge milestone in supporting the TRON DeFi platform.
Details have emerged that the new platform token ticker will be $JST and that of the stablecoin will be $USDJ. What caught many unawares is the announcement that the JUST Mainnet went live on April 4. On the surprise rebranding from Djed to JUST, Sun says the new-look platform means “fair and Just” based on a decentralized system.
Why Justin Sun TRON DeFi platform JUST?
From the surface, JUST is aimed at growing TRX but by design, it will help investors earn USDJ passively by staking on TRX. The earnings will be through Collateralized Debit Positions (CDPs). Once an investor accumulates enough USDJ coins, they have the option of sending them to their wallets.
The stablecoin has hit the ground running with the first USDJ listing reported on Poloniex exchange. Hopes are high that it will soon be listed on other high profile exchanges. DeFi has created a lot of excitement across the crypto sphere through its innovative Apps and the future looks promising.
The hype has seen Coinbase, a U.S. based crypto exchange announce its integration with DeFi Apps. In an announcement made in March, integrating the technology into their wallet will make it easy for investors and users to lend their digital assets and in return earn interest.