TRON founder Justin Sun announced on Saturday through his official Twitter account the TRON Foundation has just launched Djed, its own stablecoin ecosystem.
In addition, he has also announced the launch of a new decentralized stablecoin backed by TRON (TRX) and BitTorrent (BTT) tokens.
According to the stablecoin's whitepaper, this new asset, known as USDJ, will be a USD-pegged coin backed by collateral assets:
"USDJ is a new currency generated through decentralized smart contracts on the TRON network. Anyone can pledge TRX as collateral to generate USDJ. USDJ enters into free circulation as any other cryptocurrency does once generated. It is pegged to the US dollar through Collateralized Debt Positions (CDPs), and also has autonomous feedback mechanisms."
This system is pretty similar to that of MakerDAO, as Djed has a stability fee, community governance, and liquidation mechanism, among other features.
The project developers believe this new stablecoin will become an integral part of TRON's DeFi ecosystem.
The TRON ecosystem is becoming increasingly popular. Thus, earlier this month it was known the US trading platform Kraken had added support for the crypto.
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