The DeFi craze is absorbing all the attention in the crypto space. After Compound successfully launched its COMP token where both the lenders and borrowers get incentivized for putting their money into the protocol, everybody has been paying very close attention to the DeFi space.
Due to DeFi’s super high popularity, Tron also thinks that it’s the right moment for its blockchain to get into the DeFi hype. Justin Sun, the founder of Tron, stated that Tron’s newest project, called JUST DeFi, would create three new DeFi-related projects. The three projects are JUST Lend, JUST SWAP, and JUST BTC.
Just Lend is a protocol that’s similar to Ethereum-based DeFi lend and borrow ecosystems. Meanwhile, Just SWAP is similar to DEX. The last one, JUST BTC, is like wBTC (wrapped BTC) in Ethereum, where the valuation is pegged 1-to-1 to BTC.
Despite the fact that Justin Sun and the Tron foundation try to impress DeFi active users, apparently, people in the crypto space are not very impressed by his announcement. Some crypto enthusiasts on Twitter stated that Tron is too centralized to launch DeFi as everything is decided mostly by Justin Sun himself or close associates of Sun.
Source: CoinTelegraph
