JustLend Partners with TRON DAO Reserve
JustLend and the TRON DAO Reserve have formed a strategic partnership to expand TRON’s DeFi business and promote a healthy and sustainable TRON ecosystem.
JustLend will distribute supply mining rewards in USDD, which is issued and managed by the TRON DAO Reserve, and cease to distribute JST as mining rewards. USDD is the safest decentralized stablecoin available in the market, so such an upgrade will effectively reduce the risk of market fluctuation and thus protect users’ interests. As a stablecoin circulating on multiple chains, USDD can meet users’ diverse needs, enabling them to transfer assets cross-chain smoothly.
Moreover, while enjoying high, stable mining returns on JustLend, users may use the USDD obtained to participate in USDD mining on SUN.io for higher returns. This gives them a chance to optimize their asset portfolio and increase the value of their holdings through staking and circulation.
It is worth mentioning that as JustLend’s strategic partner, the TRON DAO Reserve plans to buy $10 million worth of JST and include JST as one of its reserve assets. JST will join a team of mainstream cryptocurrencies, including TRX, BTC, and USDT, to over-collateralize USDD, ensuring its stability and security.
As TRON’s first official lending platform, JustLend has received unanimous praise and support from its users thanks to its secure and stable mechanism as well as its decent APYs for supplies and loans. Data from July 6 show that JustLend has a total of $2.95 billion in deposits and $193 million in loans.
USDD is the first decentralized over-collateralized stablecoin, with its collateral ratio ranking the first in the world. Through the cross-chain protocol BitTorrent Chain, USDD can be circulated and traded on TRON, Ethereum, BSC, and other blockchain networks.
The collateral ratio of USDD has reached 312.42%. The USDD reserve now holds 14,040 BTC, over 10.8 billion TRX, 140 million USDT, and 990 million USDC, with a total of over $2.259 billion worth of assets collateralized for 723 million USDD.
Initiated by the TRON network, the TRON DAO Reserve aims to safeguard the overall blockchain industry and crypto market, as well as to mitigate severe and long-term economic downturns. It can protect the interests of users by releasing liquidity against extreme market volatilities. As of now, Alameda Research, Amber Group, Poloniex, Ankr, Mirana, Multichain, FalconX, and TPS Capital have become TDR members and whitelisted institutions.
Today, as an indispensable part of the blockchain industry, TRON has built a full-blown ecosystem with constant, innovative efforts and improvements. While the number of its users has exceeded the 100 million mark, the TRON network has recorded over 3.4 billion transactions, more than $10.5 billion of TVL, and an upward of $46.4 billion of on-chain assets.
The alliance between JustLend and the TRON DAO Reserve has not only injected vitality into TRON’s DeFi ecosystem and boosted the entire TRON ecosystem, but most importantly, it has enabled JustLend and USDD with more use cases to meet users’ various needs. Undoubtedly, JustLend’s adoption of USDD as a mining option will help protect the interests of more users and provide them with more secure, efficient services and stabler income.