Tron-based tokens have become quite popular over the last few months. Thanks to the ongoing demand for decentralized finance [DeFi], Tron Blockchain has emerged as one of the main contenders in a space dominated primarily by Ethereum.
In the latest news, VirgoX, which happens to be a stablecoin focused digital asset trading platform, has announced its plans to list Tron-based SUN token and JUST [JST] and the initiation of trading with SUN/USDT and JST/USDT soon after.
Trading pair: JST/USDT SUN/USDT
Deposits and withdrawals will be available simultaneously.
— VirgoX (@VirgoX_Exchange) October 21, 2020
SUN was essentially designed to further the development of DeFi on Tron’s blockchain. It was described as “the quintessential Bitcoin equivalent on TRON,” by the Tron Foundation. In addition, SUN is a voluntary project that runs on Tron’s TRC-20 token standard with a dedicated community administering operations via smart contracts. SUN also became the first token listed on Binance newly-launched Innovation Zone.
JUST [JST], on the other hand, is Just Platform’s Governance Token which was launched in May this year, during the Poloniex LaunchBase [Token Sale]. It is basically a two token system that aims to create a decentralized financial system that offers stablecoin lending and governance mechanisms for users around the globe. In addition to this, JUST was also listed for trading on the digital asset management platform, Bitrue.
Meanwhile, Coinbase Custody also recently announced that it was exploring to support multiple digital assets
such as Tron [TRX] and five popular TRON based tokens which included BitTorrent [BTT], Just [JST], Just Stablecoin [USDJ], WINK [WIN] and Sun Token [SUN]. Considering the fact that Coinbase Custody is a trusted crypto custodian with its core clients being institutional investors, potential listing development is crucial not only for the Tron ecosystem but also for the price of the individual tokens.
Support on Coinbase Custody could eventually open doors for Tron [TRX] and other Tron-based tokens being listed on the leading exchange, Coinbase.