TRON is expanding DeFi category
A fact sometimes forgotten in the madness of Ethereum’s current DeFi bull run is that all this activity is underpinned by automatic market maker exchanges such as Uniswap.
Launched back in mid 2019, with version 2.0 coming in May 2020, Uniswap provides a simple interface for users looking to trade tokens, as well as the opportunity for more sophisticated players to earn fees by locking tokens into the liquidity pools that enable this trading.
And more importantly it enables any blockchain project to launch their ERC20 tokens in a cheap and open manner; also allowing the token to find a market price in a holistic manner.
In that sense, Uniswap is the key foundational block of the entire DeFi ecosystem on Ethereum.
Which brings us to TRON.
Long dominated by gambling dapps, the past months have seen a concerted push by the TRON Foundation to get DeFi dapps up-and-running.
The MakerDAO-esque Just dapp – with its own USDJ stablecoin – launched in April and is building momentum.
And now it’s been joined by JustSwap, the first AMM exchange on TRON.
Similar in almost all features to Uniswap, it allows users to swap between TRON’s tokens, such as TRX, USDJ, WIN etc, as well as locking tokens into liquidity pools.
Of course, the next question is whether the launch of such dapps can kickstart an entire DeFi ecosystem? Uniswap’s accelerative power on Ethereum came because lots of DeFi dapps were launching new tokens people want to buy.
The harder task for TRON will be encouraging the next level of dapps such as those offering savings-and-loans, margin trading, synthetic assets and yield farming.
As the fast-evolving DeFi ecosystem expands and bleeds across to other protocols we will continue to monitor and report on the space. Make sure you bookmark DappRadar and sign up to our newsletter below to get updates direct to your inbox.