TRON TRX
  • Analysis platform DappReview ranks the TRON based DeFi project JUST in first place of top decentralized finance projects by users last week.
  • Justin Sun has announced the addition of BitTorrent token (BTT) to TRON’s DeFi sector.

DappReview has revealed last week’s top 5 dapps by users. According to dapp analysis platform,  TRON‘s DeFi platform JUST ranked first after reaching 10.2 thousand users. Also in the DappReview rating are 3 of the most important Ethereum DeFi protocols Synthetix, Compound, and Aave. However, none reached even half of the users that DappReview claims JUST had.

TRON’S CEO celebrated the position that was awarded to JUST and stated that it is now “number 1”. In the crypto community some users celebrated DappReview’s rating. Others said the results are to be mistrusted. While JUST was able to reach number 1 in the DappReview ranking by number of users, the project is only on rank number 27 in terms of trading volume in the last 24 hours.

The data from DappReview shows that JUST only achieved $210,000 in trading volume in the last 24 hours. At the same time, Compound reached $269 million in trading volume in the last 24 hours and ranked 1st. Curve is in 2nd place with $58 million and Aave is in 3rd place with $53 million.

Sun announces extension of TRON’s DeFi

On the other hand, TRON’s CEO also announced that BitTorrent will get a added to TRON’s DeFi project. Through a “strategic alliance” of BitTorrent with JUST, Sun said that the “best DeFi projects” will be built on TRON. Additionally, TRON’s CEO stated that the BTT token will be able to be used as collateral in the yield farming of TRON’s JST DeFi platform. According to Sun, the project will get “2 billion users” by adding BTT. Sun also hinted at further announcements for this.

As reported by CNF, the JST lending platform was launched in April this year. With the first announcement, the platform was tentatively named Djed. However, the platform changed its name after a vote by TRON community. The platform was criticized prior to its launch for being of decentralized finance, but having a name similar to that of TRON’s CEO.

Via Twitter TRON CEO Justin Sun described the platform as “something new”. Despite this, the platform received criticism for allegedly copying the system from the Ethereum-based lending platform, MakerDAO.


Last updated on

(Excerpt) Read more Here | 2020-08-10 07:04:00
Image credit: source

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