TRON’s decentralized token exchange, JustSwap, went live on August 18 as part of the TRON Foundation’s plan to extend its tentacles and power in the DeFi sector. 5 days after the official launch of the project, the platform reached $20 million trade volume milestone, a report has said.
The project seems to have caught the attention of many in the crypto space. At a live stream event used to commemorate the launch of the project, CEO Justin Sun appealed to 763,000 viewers on Yizhibo, a Chinese periscope variant. Justin Sun said JustSwap is an “accessible to all” platform that serves as a competitor or substitute to Ethereum exchange UniSwap.
Justin Sun continues to make progress in the crypto ecosystem, and the latest achievement serves as a remarkable one in its attempts to extend the potency of TRON blockchain technology in the DeFi sector.
JustSwap Does Not Endorse Any Project, Whitelist Only an Algorithm Rank
In a fresh update today, August 23, Justin Sun said whitelisting projects on JustSwap does not in any form means an endorsement from JustSwap. The millennial CEO who is Chinese descent said the shortlisting was done based on a mere algorithm ranking.
He averred that the whitelisted projects are only rated based on algorithm. Projects will only be whitelisted if its liquidity and trading volume meets the standard of the JustSwap’s algorithm, however, this has nothing to do with the project’s quality or profitability.
He further clarified that JustSwap does not in any way, and will not certify any project. This is probably a warning to investors to make their findings appropriately before doling their fund into any project, and JustSwap will not be responsible for any loss.
This is not the first time Justin Sun will be making similar clarification.
Earlier, Justin Sun issued a stern warning to investors against putting their fund in OKS DeFi project in the name that the project is connected with TRON or the CEO.
Sun clarified that he or TRON has no affiliation with the project. He elucidated then that the project is yet to go through official auditing, hence extremely risky.