The Poloniex Exchange has announced it will launch its own token issuing platform called LaunchBase. It will also launch a first project – the decentralized stable cryptocurrency system based on the Tron blockchain, called “JUST”.
This is a system similar to MakerDAO created by the TRON Foundation, announced last week.
“LaunchBase selected as the first project a lending platform based on the stable cryptocurrency based on TRON, called JUST and its associated token”,
announced Poloniex.
“JUST is a decentralized lending platform where users can use TRX for staking to generate USDJ, a stable 1: 1 USD based cryptocurrency.”
The exchange also mentioned that TRX will be the only token that can be used for purchases on the new LaunchBase platform.
Tron founder Justin Sun said JUST aims to build a “fair” decentralized financing system (DeFi). It will provide lending and governance mechanisms based on stable cryptocurrencies. Sun is part of the investor group that bought Poloniex from Circle at the end of last year.
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