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- Justin Sun announces major changes to JST, aiming to make it the “next 100x token” within TRON’s growing DeFi sector.
- JustLend’s success and low transaction costs position it as a top TRON lending platform, fueling demand for JST.
- Tokens will be bought back and burned, allowing the depreciation of JST and the establishment of Sun as a DeFi platform leader.
Justin Sun, the founder of Tron, revealed that there will be changes to the governance token JST, also known as JUST, in the Tron ecosystem. In the latest update on X, Sun announced that JST is to be entirely reorganized as the organization aims to turn it into the “next 100x token.” He specifies that the role of the growing TRON DeFi market will be vital to JST’s exponential growth.
JustLend has now been established in the TRON network as one of the largest lending protocols on the platform. JustLend enables direct trading of native assets with the help of liquidity pools. Sun emphasized that the platform performs better than Ethereum-based applications, such as Compound and AAVE, owing to the high processing speed and low transaction costs of the TRON ecosystem. Even since its launch, JustLend has generated millions of net profits, demonstrating its robust position in DeFi.
Sun also said that JustLend has been successful, and this proves the importance of the TRON blockchain for DeFi. It should also be noted that as the platform attracts more customers, there is likely going to be a consequent appreciation in the circulation of JST. This is further backed by Sun’s vision of the growth of the TRON DeFi ecosystem.
JST’s Governance and Tokenomics
Another important step towards the realization of the concept of JUST ecosystem is the presence of USDD, a decentralized stablecoin in the project, which is issued by the TRON DAO Reserve. Sun pointed out that USDD has stabilized, and it has grown popular on the TRON network. It has expanded its utility within lending and DeFi, which in turn stimulated the demand for JST tokens. The growing adoption of USDD is likely to drive the growth of JST even higher, affording more demand for the token.
The type of Tokenomics that JST possesses is similar to governance tokens like AAVE and MKR in their respective platforms. Sun further pointed out that JST is used to introduce stablecoins in the TRON system and to regulate the lending pools within the system. Currently, it earns tens of millions in profit annually from the JUST ecosystem, and, according to Sun, expanding its target to reach $100 in revenues per year would increase the value of JST even more.
Sun announced that all profits generated in the ecosystem will go towards the buying back of the token. The buybacks will eventually result in the elimination of JST tokens, thus lowering the total JST token circulation. This deflationary strategy will help increase the token’s value by restricting the number of tokens in circulation.
JustLend is a rapidly growing business, and USDD continues to experience meteoric growth, while Sun’s buyback plan remains a valuable factor for JST. JST is set to be amongst the prominent projects in the DeFi industry. With the emergence of TRON as a contender to Ethereum in the DeFi space, JST could compete with other popular tokens like AAVE and MKR in the future.
