Justin Sun, founder of TRON has a made a pretty audacious bet. He thinks JST, a TRON ecosystem token, will be the “next 100x token.” TRON’s decentralized finance (DeFi) ecosystem has been booming. Much of this increase can be attributed to the success of platforms such as JustLend and the USDD stablecoin. TRON is positioning itself to become an Ethereum competitor in the DeFi space. It hopes to give users both lucrative yields and a user-friendly experience.
Sun has likened the changing function of JST to a combination of AAVE and MakerDAO’s MKR. He dreams of a day when JST is used to govern and ensure stability for users throughout the TRON DeFi ecosystem. JustLend and USDD are central pieces to TRON’s wider ambitions. They are critical to advancing TRON’s mission of establishing itself as a leader in the DeFi ecosystem.
JustLend's Rise in the TRON Ecosystem
JustLend has quickly grown to become the largest lending protocol in TRON’s ecosystem. It works by allowing users to lend any asset natively and borrow any asset natively through decentralized liquidity pools.
Specifically, this platform provides one of the most compelling services available within TRON’s DeFi ecosystem. It allows them to be able to borrow against their capital and receive yield as well. Its meteoric rise speaks to the growing popularity of DeFi services inside the TRON ecosystem.
The overwhelming success of the JustLend launch proves TRON’s determination to establish a thriving and efficient DeFi infrastructure. And perhaps most promisingly, it creates pathways for users to engage proactively and meaningfully with the ecosystem.
USDD's Role in TRON's DeFi Strategy
The market capitalisation of USDD, a TRON-based stablecoin, TRON is using USDD as the de facto stablecoin for TRON. It creates certainty, undergirds commerce, and enables transactions in the broader ecosystem.
Because of this, the availability of a high-quality stablecoin like USDD is paramount to keeping DeFi platforms running harmoniously. This enables users to participate in lending, borrowing, and trading activities without the extreme volatility often associated with other cryptocurrencies.
Together, USDD and JustLend join a crowded field to expand, deepen, and beautify TRON’s DeFi offerings. This drives more users to take part by investing and remaining engaged with the TRON network.
TRON's DeFi Ambitions
TRON's ambition is to establish itself as a major force in the DeFi space, directly challenging Ethereum's dominance. The growth of its ecosystem, driven by platforms like JustLend and the USDD stablecoin, is a testament to this goal.
Justin Sun's prediction about JST reflects confidence in the future potential of TRON's DeFi ecosystem. This allows him to imagine JST someday taking a key role in governing and stabilizing the network. It would be akin to how AAVE’s governance and MakerDAO’s MKR tokens operate within their ecosystems.
TRON’s commitment to user-friendliness and high-yield appeal is part of a strategy to bring a wider audience into the DeFi fold. This approach opens the door for DeFi to reach new users. Thus, it powers use-case and expansion across the TRON ecosystem.
