New DeFi Milestone | TRON’s First Official Lending Protocol JustLend DAO is Now Open-Source
JustLend DAO, the first lending protocol of TRON, is now made open-source on Github to keep users’ assets secure and make funds transparent and traceable. Users in the community can view the code on GitHub to keep track of the product development progress at any time and improve the code so as to foster a better DeFi ecosystem together with JustLend DAO.
An open-source protocol implies more transparency and higher security, and making JustLend DAO’s protocol open source means that anyone can now access the protocol and interface. Developers can build various new financial applications based on JustLend DAO’s open-source protocol and accelerate financial innovation with network effects coming into play. Meanwhile, open source enables the JustLend DAO protocol to be healthier and safer as its source code can be enhanced and security vulnerabilities avoided.
A money market protocol based on TRON, JustLend DAO has won wide acclaim among community users since its launch in December 2022, thanks to its outstanding user experience and secure mechanism. The total assets supplied and borrowed on JustLend DAO up to now have reached $3.4 billion and $180 million, respectively, earning it the second place on DeFiLlama’s ranking of lending protocols by TVL.
Having implemented the DAO governance model for some time, JustLend DAO now governs its community through voting on proposals, with the goal of transitioning into full community-driven governance over time. It has recently passed the security audit by the leading blockchain security firm CertiK. Moreover, with its strategic partnership with the TRON DAO Reserve (TDR), JustLend DAO has upgraded its supply mining reward to the decentralized, over-collateralized stablecoin USDD, further protecting investors’ benefits.
After constant innovation and improvements, TRON has grown into one of the most thriving blockchains in the crypto industry with a full-blown ecosystem. As the first official lending project on TRON, JustLend DAO has become the indispensable infrastructure for TRON DeFi. It has not only provided additional investment options for TRON DeFi’s fixed-income market but also improved the fund utilization ratio of the DeFi market as a whole, thus ensuring faster services and safer investment options for all users.
The open-sourced JustLend DAO protocol will surely attract more developers to third-party services and applications based on the protocol. The DeFi lending sector is likely to see a new round of galloping development as a result.
About JustLend DAO
JustLend DAO is the first TRON-powered official lending platform aimed at establishing fund pools whose interest rates are determined by an algorithm based on the supply and demand of TRON assets. There are two roles within the protocol, namely suppliers and borrowers. Both of them interact directly with the protocol to earn or pay a floating interest rate.