TRON are ready to root their foot in to decentralized finance. Decentralized Finance (DeFi) is the process which leverages the decentralized networks to transform traditional financial products in to trustless by creating transparent protocols which run without intermediaries.
TRON users will be able to earn interest and borrow against TRX as a collateral. The JUST Lend project will be the lending and borrowing platform making JUST Defi the face of the TRON decentralized finance ambitions. JUST Swap is the decentralized cryptocurrency exchange platform. JUST BTC is the TRC-20 token pegged to Bitcoin (BTC) at a ratio 1:1.
The JST is set to be the code of the TRON DeFi ecosystem.
The commonly used financial services in the current day world consist of savings, loans, trading, insurance and lot more. All of these are to be made available to anyone in the world who have an access to smart phone and internet connection. Smart contracts running on the blockchain make this possible.
Decentralized Finance can facilitate loans where the terms are negotiated between two strangers in different parts of the world, and this taking place without the interference of a bank. There are already several such automated loans happening by way of Dapps.
The DeFi Dapps help in creating stable coins, where the value is pegged to the USD. These Dapps will help lending money making it possible to earn interest on crypto, taking out loans and exchanging one asset for another and eventually implementing advanced lending strategies.
Sydney Ifergan, the crypto expert stated, “Decentralized Finance from TRON foundation through JUST is supposed to be Rule of Law in other words the Rule of the Code. Since Justin sun is involved, it can sometimes become Rule of Justin Sun.”
Once on the blockchain the Decentralized Apps on the blockchain will be able to function on their own without human intervention, apart from those times which call for upgrades or bug fixes.
The Code supporting the audit will be transparent for anyone to audit. This provides for the trust in the trustless nature of the operation of finance using the code. Being permissionless anyone will be able to use them. Interoperable DeFi are the ultimate goal as it leads to mass adoption.
As always you do not know if Justin Sun will make it truly decentralized. Sun is the center of the Universe and Justin Sun prefers to be the center of everything he introduces or brings in to being.
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