TRON Announces Launch Of Three New Protocols For DeFi Sector

TRON announces the launch of three new protocols for the TRON DeFi sector and will also release an alternative to Uniswap, yield farming and oracles as we are reading more in the TRON analysis today.

Justin Sun, TRON’s CEO took it to twitter and we can see that TRON announces three major updates for the platform that are related to the DeFi sector on Tron. TRON still expands in this sector and improves the infrastructure despite the heavy criticism that Sun received from the crypto community. Some members accused TRON of “copying” the trends from Ethereum in order to make more profits.

3 exciting decisions were made today! 1) #TRON's version of Uniswap "JUSTswap" will launch on Aug 17th 2) #USDJ & #JST yield farming will launch on Aug 31st & 3) #TRON will officially launch blockchain oracle soon!! #TRX $JST

— Justin Sun (@justinsuntron) July 21, 2020

However, the TRON analysis shows something else. Justin Sun announced an alternative to Ethereum’s Uniswap that will be called JUSTswap while the TRX-based protocol will be launched on August 17^th this year which will provide a service to solve the problem of decentralized liquidity on the TRON network. The ethereum-based protocol can be described as a tool that allows ERC-20 tokens to be exchanged but without the traders having to create buy or sell orders. Users also don’t have to pay fees or make exchanges via third-person accordingly with the operations of a decentralized finance space.

Sun also announced the launch of yield framing between the stablecoin JUST and the JST Token. The yield farming will also be available from August 31^st as it was extremely successful on Ethereum because the users were able to utilize their active tokens and crypto-assets and to generate higher yields. Yield farming consists of taking a quantity of ETH and taking advantage of the many protocols in the Defi sector in order to obtain the highest return on the initial investment. This way, investors can take loans on COMP or Aave. They can also enter a liquidity pool via one of the major protocols such as UNISwap and make profits by providing liquidity.

The Tron analysis also shows that Justin Sun announced an oracle service but didn’t quite specify the date, unlike the previous announcements. The oracles are a service that allows protocols to obtain off-chain info without having to compromise the security of the network. Some members of the community suggested that Sun cooperates with Chainlink but these rumors were never proven true.