The founder of Tron and a leading figure in the Cryptographic Industographic Industry Justin Sun brought to the social media platform X to make optimistic affirmations on the future of JST (just), the governance token of the just ecosystem. In a recent article, Sun said that JST had undergone a “complete fundamental reversal” and suggested that he could become the “following 100x token” as the DEFI landscape based on ripe.
The climb of Justlend and Usdd
The central argument of Sun is the performance of Justlend, a loan platform without authorization built on the Blockchain Tron and incubated by JST. Since its launch, Justlend has become one of the largest loan protocols in the TRON ecosystem, allowing users to lend and borrow native assets via decentralized liquidity pools.
The platform works in a similar way to compound or aave on Ethereum, but with the additional advantage of the high flow of tron and low transaction costs. According to Sun, Justlend’s growth has resulted in tens of millions of dollars in net profit, interest rates for lenders sometimes reaching up to 30%.
Another pillar of the ecosystem is USDD, a decentralized stablecoin incubated by the just platform and the Tron Dao reserve. According to Sun, the USDD experienced “explosive growth”, becoming a stablecoin quickly used in the Tron network and beyond. Integration with loan platforms and DEFI has accelerated its adoption, increasing the usefulness and demand for JST.
Jst a “combination of Tron’s Aave and MKR”
Sun compares JST’s evolutionary role to a combination of MKR of Aave and Makedao. JST is used for governance decisions within the just ecosystem and plays a key role in the program and management of stablescoins and loan pools. According to Sun, the annual net profits of the ecosystem have already reached tens of millions of dollars, with a “forecasting of conservative income” of more than $ 100 million in income for the coming year.
Perhaps more particularly, Sun has committed to use all the benefits to buy and burn jst tokens “at the appropriate” time. This deflationary mechanism is designed to reduce the supply in circulation and potentially increase the value of the remaining tokens, a strategy that has succeeded for other DEFI projects.
The success of Justlend and the USDD shows the ambition of Tron to compete with the dominance of the Ethereum challenge, offering attractive yields and a friendly experience. If they continue their upward trajectory and the promised buyout and burn program is implemented, JST could certainly appreciate. However, as with all cryptographic investments, Dyor and only invest what you can afford to lose.
