Poloniex announced on April 5th that they will be launching a TRON-powered initial exchange offering platform called LaunchBase and its first supported project is Tron’s decentralized stablecoin system called “JUST.”
We’re proud to announce the release of #Poloniex #Launchbase🚀
The 1st project is newly launched #JUST, @Tronfoundation based decentralized #stablecoin lending platform! 🏦
…yeah we are 🤩
See the article for details 👇 https://t.co/qNtbMNyvKh
— Poloniex Exchange (@Poloniex) April 5, 2020
Poloniex further said that this would be an exclusive TRX only eligible token for purchases via LaunchBase.
As mentioned by Justin Sun, Djed was tested by the TRON stablecoin platform and completed its testing and led to upgrading the brand from Djed to JUST. Users can stake TRX via JUST’s CDP portal to generate USDJ. A stablecoin pegged to USD at a 1:1 ratio. $JST can be used for paying interest, platform maintenance as well as other activities on the blockchain.
(4/6)#LaunchBase’s 1st project is a TRON-based lending platform #JUST $JST. JUST is a decentralized lending platform where you can stake $TRX via its CDP portal to generate $USDJ, a stablecoin pegged with USD at 1:1. $JST can be used for paying interest and platform governance.
— Justin Sun (@justinsuntron) April 5, 2020
The CEO also said that JUST aims to build a fair decentralized finance system that provides stablecoin lending and governance to all users and he is in full support for the LaunchBase platform and future developments. TRON Foundation promises to provide professional assistance to the selected teams who will manage to appear in the LaunchBase.
With this IEO LaunchBase platform, Poloniex joins a number of cryptocurrency exchanges with its token issuance platform, including Binance, OKEx, and Huobi.
Who is Poloniex?
Poloniex was launched in 2014 and is based out of Wilmington, Delaware, in the United States. It was very recently acquired by Circle, a Goldman-Sachs backed company. They are a cryptocurrency exchange that offers various bitcoin markets available for trading.
The company also provides its customers with a secure trading environment and advanced charts and data analysis tools. The platform enables users to buy and sell cryptocurrencies such as litecoin, namecoin, dogecoin, and more.
Are you guys excited for LaunchBase? Yes, we do and it would be an alternative platform where you will have the option to purchase the eligible tokens using your TRX. Let us know in the comments about your thoughts about this newly launched IEO platform.
For more news and updates, see Tronspark’s website.