According to the report, the platform is meant to support quality blockchain projects to grow and further develop their ecosystem.
Poloniex exchange shared this, “Big news! We’re proud to announce the release of Poloniex Launchbase. The 1st project is newly launched JUST, Tron Foundation based decentralized stablecoin lending platform!”
Justin Sun Reacts to the New Development
The founder and CEO of Tron, Justin Sun also showed his excitement in the new development. In his reaction to the announcement on Twitter, he wrote that Tron Foundation will fully support the LaunchBase platform through its strategic partnership with Poloniex exchange.
He further hinted that the Tron’s native token, TRX will be the only eligible currency for purchases on the newly launched platform.
“Huge congrats on launching Poloniex LaunchBase, a world-leading token sale platform! As Poloniex’s strategic partner, Tron Foundation and I will fully support the LaunchBase platform and its future development,” Justin Sun shared.
(1/6)Huge congrats on launching @Poloniex #LaunchBase, a world-leading token sale platform! As Poloniex’s strategic partner, @Tronfoundation and I will fully support the LaunchBase platform and its future development. https://t.co/amRgWKjNiH
— Justin Sun (@justinsuntron) April 5, 2020
Read the full details about the newly launched platform as shared by Justin Sun below:
“TRX will be the only eligible currency for purchases. Over the past 6 years, Poloniex has helped hundreds of quality blockchain grow and develop their community.
Poloniex LaunchBase’s mission is to identify and assist quality projects in gaining adoption and traction, thereby seeding the growth of its community.
LaunchBase’s 1st project is a TRON-based lending platform JUST JST. JUST is a decentralized lending platform where you can stake TRX via its CDP portal to generate USDJ, a stablecoin pegged with USD at 1:1. JST can be used for paying interest and platform governance.
JUST aims to build a fair DeFi system that provides StableCoin lending and governance mechanisms for all users. JUST is expected to become more than just a DeFi project for community members, but also serves as an example to attract more DeFi developers to TRON.
“JUST leverages an array of benefits that TRON has to offer, including lower fees, greater speed, higher TPS and a well-rounded DApp ecosystem compared w/ other platforms. We look to further perfect TRON’s DeFi ecosystem centered on JUST to extend benefits to everyone.”