TRON founder Justin Sun has recently expressed optimism about the future of JST (JUST), the governance token of the Just ecosystem, on social media platform X. Sun believes that JST has experienced a “complete fundamental reversal” and has the potential to become the “next 100x token” as the TRON-based DeFi landscape matures.
One of the key factors driving Sun’s optimism is the success of JustLend, a permissionless lending platform on the TRON blockchain incubated by JST. JustLend has quickly become one of the largest lending protocols in the TRON ecosystem, allowing users to lend and borrow native assets through decentralized liquidity pools. With TRON’s high throughput and low transaction fees, JustLend has generated tens of millions of dollars in net profit, offering interest rates for lenders as high as 30%.
In addition to JustLend, USDD, a decentralized stablecoin incubated by the Just platform and TRON DAO Reserve, has experienced explosive growth. USDD has become a widely used stablecoin within the TRON network and beyond, with integration into lending and DeFi platforms driving its adoption. This has further increased the utility and demand for JST within the ecosystem.
Sun compares JST to a combination of AAVE and MakerDAO’s MKR, highlighting its role in governance decisions, stablecoin issuance, and lending pool management within the Just ecosystem. The ecosystem has already generated annual net profits in the tens of millions of dollars, with a projected revenue of over $100 million for the upcoming year. Sun has also pledged to use all profits to buy back and burn JST tokens at the appropriate time, a deflationary mechanism aimed at reducing the circulating supply and potentially increasing the value of remaining tokens.
The success of JustLend and USDD demonstrates TRON’s ambition to challenge Ethereum’s DeFi dominance by offering attractive yields and a user-friendly experience. If these trends continue and the buyback-and-burn program is implemented as promised, JST could see appreciation in value. However, as with any crypto investment, it is important to conduct your own research and only invest what you can afford to lose.
In conclusion, the growth of JustLend and USDD within the TRON ecosystem bodes well for the future of JST as a governance token. With promising revenue projections and a deflationary token burning mechanism in place, JST has the potential to be a standout player in the DeFi landscape.