JustSwap in just 5 days touched a mark of 20 Million Dollars in Volume. TRON Foundation is in a progressive mode with JustSwap.
Everipedia tweeted: JustSwap is a new decentralized exchange launched by #TRON. This is the first step in TRON’s move into DeFi. The next step is the launch of their stable coin $USDJ and $JST on August 31, 2020.
The good thing about the protocol is that it can convert any TRC20 token based on the system price. And, also all the trading fees earned in the platform will go to the liquidity providers of the protocol.
In case someone does not know what TRC20 is: “TRC20 (TRC20 Token Standard) is a token standard based on the implementation of smart contract when using TRON network to issue a token.”
Tokens on the TRON blockchain are implemented using the TRON Virtual Machine (TVM). And, also the TRC-20 is fully compatible with ERC-20.
The TRON virtual Machine is Turing Complete and lightweight. It has been developed for the TRON’s ecosystem. The ultimate goal is to facilitate millions of global developers with a blockchain system that is custom built, that is efficient convenient, stable secure and scalable.
The TVM is very efficient as it supports the already existing developer ecosystem and facilitates support for DPOS. Since TVM is compatible with the EVM environment in the initial stages it is possible for developers to compile smart contracts in a Remix environment as opposed to having to learn a new developer language.
The concept of TVM is “Bandwidth” which is lot different from the gas mechanism on the Ethereum Virtual Machine. Since the transaction operations and smart contracts are free on TVM and that it does not consume tokens, there is a lot of hope for DeFi on the TRON Network.
In this regard, Sydney Ifergan tweeted: “It is very clear that the TRON Foundation is All-In on the DeFi ecosystem. They are continuing to upgrade their products to race ahead.”
A lot of expectation is brewing around JustSwap and they are hoping that one day it will become the powerhouse of 100x cryptos and that TRON will build a DeFi protocol which is parallel to Ethereum.
Of note,Justin Sun, the CEO of TRON celebrated the launch of JustSwap through a live stream, which attracted more than 763,000 viewers on the Chinese app Yizhibo.
DappRadar expressed that long dominated by gambling dapps, the past months have seen a concerted push by the TRON Foundation to have the DeFi dapps up and running.
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