Tron announces DeFi products, but fails to impress the crypto community on Twitter

Tron announces DeFi products, but fails to impress the crypto community on Twitter

 

Justin Sun, the founder of the Tron Bitcoin Trader blockchain protocol, recently visited Twitter to announce his company’s foray into the decentralized financial space that will work in areas of decentralized lending and transactions.

Sun revealed that the project, JUST DeFi, plans to launch three new products for the decentralized finance ecosystem. The first is a lending and credit platform called „JUST Lend“. It will allow Tron users to „earn interest and borrow against collateral“.

The second product involves a decentralized crypto-currency exchange platform called JUST SWAP, while the third is a TRC-20 token called JUST BTC. The token is linked to Bitcoin (BTC) at a ratio of 1:1.

He added that the recently released JUST token (JST) will be the central token of Tron’s DeFi ecosystem, and he added

„He added that the recently released JUST token (JST) will be the core token of Tron’s DeFi ecosystem, adding: „We look forward to seeing the JUST series of fully empowered, community governance and dividend sharing products integrated into the #TRON DeFi ecosystem.

Crypto-Twitter is hard to impress
Tron has been embroiled in controversy over its quasi-decentralization since CTO and company co-founder Lucien Chen resigned in May 2019. Chen blamed Tron for becoming extremely centralized and losing his vision for creating a decentralized web.

Users on Twitter expressed the same concerns about Tron in response to Sun’s tweets about DeFi products. One user wrote, „But #Tron $trx is not decentralized, so you really should do CeFi – Centralized Finance.

Another user wrote, „When a centralized scam isn’t enough, one should jump on the DeFi bandwagon for SIMPLY all the others“.