The TRON Foundation has recently announced the launch of its first decentralized finance (DeFi) project called JUST.
It’s essentially a decentralized stablecoin lending platform. TRX holders will be able to participate and govern the issuance of a new stablecoin called USDJ, the value of which will be pegged to the US Dollar 1:1. JUST (JST), on the other hand, is the protocol and the governance token of the JUST Network. Those who hold JST will be able to vote on the issues which are associated with the operation of the issuance platform. USDJ is issued through a decentralized lending platform, and it’s intended to created collateralized debt positions that are backed by cryptocurrencies. It’s part of a supposedly growing category of digital assets that are specifically intended to counter the risk of volatility that’s associated with most of the cryptocurrencies. It’s also the very first natively developed stablecoin on the TRON network, and it’s reportedly a lot more compatible with daily transactions.
Despite being relatively new, the two tokens have already been listed for trading on some of the well-known cryptocurrency exchanges. Poloniex is one of them, but more recently, so did the popular peer-to-peer trading platform CryptoLocally. This signals for further expansion of its efforts into the ecosystem of TRON. As it shifted towards a multichain peer-to-peer trading platform, CryptoLocally previously added the TRON-based USDT and TRX. It’s also worth noting that the platform is non-custodial, meaning its operators are not able to touch the customer’s funds. All of the transactions that are facilitated by CryptoLocally are reportedly protected by a smart contract escrow service. It’s intended to shield both the buyer and the seller throughout the entire transactional process. It offers a combination of comprehensive payment options and an easy-to-use trading platform, making it a relatively convenient way to transact with USDJ and JST.
About CryptoLocally
CryptoLocally is a peer-to-peer cryptocurrency trading platform. It offers a wide range of different payment options. The platform is straightforward to use, and it operates with a lot of different fiat currencies.
Article Produced By
George Georgiev
Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.
https://cryptopotato.com/p2p-trading-platform-cryptolocally-will-support-usdj-and-jst/