Justin Sun: Analysis of current market conditions

This article was first published on Stories by TRON Foundation on Medium
-----

Host: Hi everyone! Welcome to CoinDesk! Today we are happy to have Justin Sun, founder of TRON, to share with us some of the trending topics in the crypto world. I am your host Yunping Mu. Also with us today is David. First, a warm welcome to Justin for joining us!

Justin Sun: Thank you!

Host: Thanks. My first question is that as a time-honored public chain that has been running since the last bull run, TRON has been closely following the latest trends in the crypto world, which, in recent days, is decentralized finance, or DeFi. In fact, many DeFi ecosystems have been built on TRON’s public chain. So can you give us a general picture of what the DeFi ecosystem is like on TRON?

Justin Sun: Sure, thanks. Overall, I think we have a comprehensive DeFi ecosystem with many layers. The bottom layer is stablecoin, which, in many people’s eyes, is the most fundamental layer in DeFi. Our stablecoin ecosystem has a similar scale to Ethereum’s, which is about $40 billion, among which there are over $20 billion USDT, $10 billion USDC, followed by BUSD, TUSD, etc.

Up until now, TRON has over 31 billion USDT, which is larger than Ethereum. We’ve already worked with TUSD, who launched around $100 million-worth projects on TRON. So this is the first layer — stablecoin, in which USDT is one of the mainstream stablecoins supported by exchanges. The second layer is decentralized infrastructure such as MakerDAO, Compound, AAVE, Uniswap, and SushiSwap on Ethereum. It supports decentralized stablecoin issuance, decentralized lending, and can act as decentralized exchanges. On TRON, we also have a sophisticated ecosystem. For example, JustSatble can issue USDJ. Besides, users can issue stablecoins by staking TRX. JustLend, like Compound, is a decentralized lending platform, and we have now supported the TRON-based BTC and Ethereum that ...

-----
To keep reading, please go to the original article at:
Stories by TRON Foundation on Medium

Comments (No)

Leave a Reply