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JustLend DAO, the TRON-powered money market protocol has migrated its governance to the new Governor Bravo contract.

The recent migration to the new governance contract would make all future governance-related calls be sent to the new Governor Bravo contract and improve the overall efficiency and decentralization of JustLend DAO. This also aims in promoting healthy and sustainable development of the JustLend DAO ecosystem.

As mentioned on their blog, here are the new features supported by the new Governor Bravo contract:

  • Upgradable implementation
  • Configurable parameter (proposal threshold, voting period, and voting delay)
  • Abstain vote option
  • Optional string voting reason
  • Proposer can always cancel their proposal (until execution)
  • Removal of the guardian
  • Proposal creator whitelist

What is JustLend DAO?

JustLend DAO is a TRON-powered lending and wealth management platform aimed at establishing fund pools whose interest rates are determined by an algorithm based on the supply and demand of TRON.

The TRON-powered lending platform is one of the three DeFi services developed by the JUST DeFi team, alongside JustSwap and JustBTC.

JustLend features automated order matching, and returns, governed through voting and it supports the following tokens TRX, SUN, JST, BTC, USDJ, USDT, WIN, and WBTT for collateral and deposits.

The TRON official lending platform is fully operated on the TRON network and it provides a high-speed and lower-cost decentralized lending protocol accessible to all TRON users.

How does JustLend DAO Governance Works?

The governance of the JustLend DAO is implemented through voting for proposals and their native token the JST is used for community governance of the JustLend DAO.

Holders of JST would be able to submit proposals on the protocol and vote for those proposals. JustLend DAO aims to transition into a fully community-led platform after starting with centralized control.

Were you one of the community members of the JustLend DAO who voted in the governance migration? Tell us more about it in the comments section below.

For more news and updates, see Tron Spark.

Comments

Jino Tokieda

Former EMEA/APAC Operations Executive for a global photography company with 5 years of experience working with top technology companies in the US and have been involved with cryptocurrencies since 2019. Always been a fan of TRON and started getting into the TRX scene around 2020. Besides creating articles for Tron Spark, I'm a skateboarder and a full-time dad to two wonderful kids.

JustLend DAO: Migrated to Governor Bravo Contract