- Justin Sun claims JST could be the “next 100x token” as TRON’s DeFi ecosystem matures.
- JustLend’s success and USDD’s adoption fuel increased demand for JST within the TRON network.
- Sun compares JST to AAVE and MKR, with plans to buy back and burn tokens, reducing supply.
TRON founder Justin Sun has expressed strong opinions about the governance token JST (JUST) within the JUST ecosystem. In an X post, Sun announced that JST has undergone complete structural changes to become the next ‘100x token’. He anticipated that the rapid development of the TRON DeFi sector could set JST for exceptional growth.
Hosting JustLend as one of its largest lending protocols, the TRON ecosystem enables decentralized native asset transactions through liquidity pools. According to Sun, the platform outshines Ethereum protocols, including Compound and AAVE, as TRON offers high performance and minimal transaction costs.
JustLend’s Profitable Growth
Sun reported that JustLend achieved tens of millions in net profits after its launch along with increased growth. This success demonstrates the value that the TRON blockchain adds to DeFi applications. Further, Sun believes that the value of JST would increase as the platform gains more users.
The USDD stablecoin further strengthens the JUST ecosystem. Backed by the TRON DAO Reserve, it has gained rapid adoption across the TRON network and is now integrated with lending and DeFi platforms within the ecosystem. The enhanced utilization has created a rising demand for the JST token, boosting its future potential.
Meanwhile, the TRON founder compared the governance role of JST within the JUST ecosystem to the functions of AAVE and MKR tokens in their respective platforms. As a governance token, JST enables both the creation of stablecoins and the administration of lending pools. Sun further revealed that the annual profits from the JUST ecosystem have already exceeded tens of millions while projecting a total revenue of $100 million, boosting JST token appreciation.
Related: TRON’s TRX Maintains Strength as BTT and JST Gain Ground
Further, Sun announced its plan to allocate all profits generated by the ecosystem for strategic JST token buybacks that will ultimately lead to token burning at suitable stages. This deflationary process aims to reduce JST’s circulating supply, thereby increasing its value, a strategy similar to that employed by other DeFi projects.
The potential growth of JST is driven by JustLend’s achievements, combined with USDD’s expansion, and Sun’s token burn and buyback plan. With TRON challenging Ethereum’s dominance in the DeFi space, JST could transform into a leading governance token compared to AAVE or MKR. However, crypto enthusiasts are cautioned to conduct thorough research before investing in any cryptocurrency.
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