In an attempt to make TRON greater in the decentralized finance (DeFi) section of the crypto industry, CEO Justin Sun has announced the launching of three new DeFi products built on the TRON blockchain network.
Meanwhile, in another development, Justin Sun felt it was a great chance for him to pitch TRON (TRX) crypto assets to Elon musk as the latter denied having any connection with the Ethereum blockchain network.
Also, the CEO of BitTorrent, Justin Sun on Saturday, July 4, announced the launch of JUST Swap, JUST Lend, and JUST BTC as the new TRON-based DeFi products. He added that the JST token will be the native token for the whole TRON DeFi ecosystem.
He explained that the TRON DeFi products will cover decentralized trades, decentralized loans and cross-chain.
Explaining the purpose of the three products, the millennial CEO clarified that JUST Lend lets users of the TRON network borrow crypto funds against collateral, while ‘JUST BTC’ is a TRC20 token pegged against Bitcoin in the ratio 1:1. The last DeFi products ‘JUST Swap’ is a completely permissionless on-chain protocol for token exchange.
Sun furthered that he would be really excited to see the JUST DeFi product in various sectors around the world.
Justin Sun Pitches TRON to Tesla CEO Elon Musk, Says Warren Buffett Can Testify
Justin Sun, in his recent tweet, took an opportunity to attract the attention of Elon Musk towards TRON cryptocurrency after the Tesla and SpaceX CEO dropped a statement on Twitter about Ethereum, distancing himself away from the second-largest cryptocurrency by market cap.
Sun invited Musk to try out TRON, insinuating that prominent Billionaire, Warren Buffet, is a big witness.
Recall that Sun allegedly gave Buffet its first Bitcoin in February this year at a dinner which had the two investors in attendance, Buffet, however, claimed that he did not own any cryptocurrency, pointing out that crypto has no use or value to him.
There has been no response from Elon Musk to Justin Sun’s invite as at press time. However, it worth mentioning that this marks the second attempt that Sun tried persuading Musk to invest in TRON.