This decentralized exchange was launched in August 2020. It was created by the open-source crypto based project known as TRON. This protocol can convert any TRC20 tokens based on a system price. All the trading fees on JustSwap go directly to the protocol’s liquidity providers rather than the protocol itself.
JustSwap’s launch signaled the first step of a three-phase plan to create a DeFi ecosystem around the TRON blockchain. The other planned actions included the launching of JUST stable coin and JUST yield farming. TRON’s CEO celebrated this platform’s launch through a live stream on Yizhibo, a Chinese app. The live stream attracted well over half a million viewers. TRON is one of the most popular blockchains globally, and it has entered into strategic teamwork with the decentralized exchange aggregator, 1inch.
JustSwap will be fully integrated with 1inch, while Mooniswap will be integrated into TRON’s blockchain. Mooniswap is 1inch’s own AMM. This partnership shows another top Ethereum DeFi project supporting TRON’s ecosystem.
1inch is one of the most outstanding services in DeFi. It offers the most reliable and efficient swaps across all the leading decentralized exchanges. As the DeFi space widens, decentralized exchanges require better tools to realize massive order sizes with minimal slippage. 1inch will boost JustSwap’s access to a broader audience, improve its price accuracy, and allow it to speed up the extraordinary growth.
Since it began, JustSwap has realized a $100m 24-hour volume, and it resembles TRON’s robust DeFi ecosystem. TRON intends to reward liquidity providers on Mooniswap using TRON tokens.
TRON: It is dedicated to speed up the decentralization of the internet through blockchain technology and dApps.
1inch: It is a decentralized exchange aggregator that sources liquidity from various exchanges and can split a single trade transaction across multiple decentralized exchanges. Smart contract technology boosts this aggregator to allow users to optimize and customize trades.
JustSwap has an easy to use interface for users who want to trade tokens simply but with more complex features. It enables one to create trading pairs and provide liquidity without paying listing fees. Additionally, every user is allowed to deposit funds and withdraw their share at any time, depending on the Token-TRX pool ratio.
Moreover, this platform provides for users to farm for yield. This is one of the most crucial aspects of decentralized finance. JustSwap was launched when Ethereum gas fees were high due to the boom within the Ethereum network. This platform was marketed as accessible to all and an excellent alternative to UniSwap.
Not everything is as calm as it seems within the TRON network. The inclusion of a new tool comes to the risks that accompany the trading process’s decentralization. Many scam tokens have sprung up.
Just like the co-founder of Primitive Crypto, other members of the crypto community are uneasy. Wan, the Primitive Crypto founder, claims that fake tokens are listed and could cause an investment risk. Several bogus investments attempt to impersonate popular tokens on Ethereum’s decentralized finance. By doing this, they hope that investors can erroneously invest in the scam token rather than the tokens they are impersonating.
Despite all the risks involved with JustSwap, TRX’s price took off to 0.047 cents before getting stable at 0.032 cents. This is evidence that traders are still interested and willing to invest in the project and see its potential.