Tron-Powered Lending Platform Just Lend Goes Live

The Tron ecosystem first set foot into the world of decentralized finance back in July 2020. The first was the lending and borrowing platform dubbed “Just Lend” to enable Tron users to receive interests and borrow against collateral.

More than five months later, the first Tron-powered money market protocol went live on the 7th of December, according to the latest blog post by the JUST Foundation.

At first, Just Lend is set to accept TRX, USDT, USDJ, SUN, WIN, BTC, JST, and WBTT tokens as collateral for loans. Besides, the protocol will also enable smart contracts for TRX, BTC, SUN, JST, WIN, WBTT, USDT, and USDJ to distribute jTokens that correspond to underlying assets to users’ accounts at the exchange rate.

First-Ever Tron-Powered Lending Platform Goes Live

Just Lend aims to establish fund pools whose interest rates are essentially determined by an algorithm based on the supply and demand of Tron assets. According to the official release, the protocol has two roles- the depositor and the borrower both of which can directly interact with Just Lend to earn as well as pay the floating interest rate. Elaborating further on the protocol, the JUST foundation further elaborated,

“An open and transparent lending environment, quick response and low fees all make it easier for users to use JustLend. Decentralized lending in the TRON ecosystem will also inject confidence to the TRON DeFi ecosystem, and this low-risk borrowing by staking TRON assets will introduce a new way of financial management to TRON users.”

Supplying & Borrowing On Just Lend

Unlike the existing P2P platforms, the Just Lend protocol seeks to pool the supply of each user in the platform. This, in turn, would stir up liquidity and strike a better monetary balance. The “suppliers” will also be able to withdraw their assets anytime without having to wait for a specific loan to expire, which enables the protocol higher liquidity than its fellow P2P platforms.

With regards to borrowing assets on Just Lend, the users need to acquire jTokens as collateral through depositing tokens, at first. Following which the users can then borrow any available asset on the platform. As opposed to its P2P counterparts, Just Lend just asks the borrowers to specify the borrowing asset. No other additional information such as the expiry date is needed by the platform.

Furthermore, borrowing is carried out real-time, and its interest rate will be automatically adjusted depending on the market’s supply and demand.

Chayanika Deka: Chayanika is a full-time journalist at TronWeekly with over two years of experience. A graduate in Political Science and Journalism, she focuses on the political and financial impact of cryptocurrency and blockchain developments.