JustSwap, TRON’s Uniswap analog, has gotten off to an auspicious start, notching up over $10M of volume in its first 24 hours and adding a string of TR20 tokens to its liquidity pools.
The success of the decentralized exchange says as much about Ethereum as it does about TRON, for the former’s scaling problems have made the case for transmitting value on other chains. Enter TRON, with its higher throughput and now its own liquidity pools for decentralized trading.
Anything Ethereum can do, TRON can do better is the message emanating from Justin Sun and the Tron Foundation. Although it’s early days for the decentralized finance ecosystem emerging around the JUST platform, the signs are promising.
Uniswap’s New Challenger Is on TRON
Uniswap, Ethereum’s dominant DEX, is facing a wave of assaults from incumbents trying to steal its crown. In addition to fending off a challenge from Mooniswap, the new liquidity pool from 1inch exchange, Uniswap faces competition from JustSwap, which launched on August 18. While the two DEXs exist on different chains, both are capable of transmitting the same assets such as USDT.
JustSwap is still a work in progress, and thus new integrations and UX improvements can be expected. It functions exactly as intended, though, facilitating fast swaps of TRON assets with low fees. Tokens such as WIN, DICE, USDJ, and ANK are all tradable on JustSwap and there’s plenty more to come.
The JustSwap team has published details of its whitelisting process for adding new tokens to the decentralized exchange. Indicators such as 30-day trading volume and liquidity of at least 20,000 USDT will be used to determine which tokens make the platform’s whitelist.
BitTorrent Joins the Party
The final component of TRON’s trinity of core products, after the TRON protocol and defi platform JUST, is BitTorrent. The file sharing network, which has just passed two billion installs of its desktop client, is being deeply integrated into the JUST ecosystem.
When JUST launches yield farming later this year, BTT will be one of the tokens eligible for inclusion, granting it the same capabilities as TRX and JST, the governance token that’s used for things like on-chain voting. On the other side, exiting the defi platform, is USDJ, a crypto-collateralized stablecoin that’s pegged to the US dollar.
With the launch of Filecoin further delayed, and talks of investors being unhappy as development has foundered, BitTorrent File System has made hay.
The vacuum created by Filecoin’s conspicuous absence has been filled by BTFS, which integrates with the TRON network, giving dApp developers access to decentralized storage. Meanwhile, on JustSwap, new features and assets are being rapidly added.
On August 20, DZI, a token for gamified defi project Definition, was listed on JustSwap. The TRON ecosystem is rapidly catching up with Ethereum as it rolls out apps for lending, borrowing, decentralized trading, and gaming.
DZI is an experimental token for an experimental project that hints at the direction TRON is moving in: fast, fun, and affordable thanks to ultra low fees.