Justin Sun Designates JST as a ‘Future 100x Token’ in Light of TRON’s Expanding DeFi Ecosystem

TRON’s founder, Justin Sun, has recently shared positive insights on social media about the future potential of JST (JUST), the governance token associated with the Just ecosystem. He stated that JST has experienced a complete transformation in its fundamentals and hinted that it might evolve into the “next 100x token” as the TRON-focused DeFi sector advances.

Key to Sun’s perspective is the success of JustLend, an open lending platform developed on the TRON blockchain and supported by JST. Since its inception, JustLend has established itself as a major lending protocol within the TRON network, enabling users to lend and borrow assets via decentralized liquidity pools.

This platform functions similarly to Compound or AAVE on Ethereum, but benefits from TRON’s high speed and low costs for transactions. Sun noted that JustLend’s expansion has resulted in millions of dollars in net profits, with interest rates for lenders occasionally hitting 30%.

Another crucial component is USDD, a decentralized stablecoin created by the Just platform in collaboration with TRON DAO Reserve. Sun claimed that USDD has experienced rapid growth, swiftly becoming popular within the TRON ecosystem and other networks. Its integration with various lending and DeFi services has further enhanced its adoption, driving up demand for JST.

Sun has compared JST’s evolving function to a blend of AAVE and MakerDAO’s MKR. JST serves governance purposes in the Just ecosystem while playing a vital role in managing stablecoins and lending frameworks. He mentioned that the ecosystem has already achieved annual net profits in the tens of millions, with a conservative revenue projection of over $100 million for the next year.

Notably, Sun has promised to allocate all profits for the buyback and burn of JST tokens “at the right time.” This deflationary strategy aims to lessen the available supply and possibly elevate the value of the remaining tokens, which has proven effective in other DeFi initiatives.

The accomplishments of JustLend and USDD highlight TRON’s ambition to compete with Ethereum’s dominance in the DeFi space, providing appealing yields and a user-friendly approach. If this upward momentum continues and the buyback-and-burn initiative is executed, JST holds the potential for appreciation. However, as is the case with all cryptocurrency investments, it is essential to conduct thorough research and only invest what one can afford to lose.