One of the biggest blockchain-based companies in the world, Tron has just recently launched its stablecoin dubbed Djed. The system for the stablecoin is similar to that of MakerDAO and because of this, many members of the community hit back at full force.
The CEO and founder of Tron, Justin Sun pitched the idea for the stable coin early this year in January as he said the following:
bitconnect 2 — RedCoat13 (@RCoat13) January 16, 2020
As you can see from the above tweet, some members of the community didn’t see the legitimacy in this new project from the CEO…
At the end of last week, he made the announcement on Twitter and uploaded a snippet of the platform which came off as very user-friendly. However, there was no mention of the BTT token in the current system.
#DJED is a new Defi project developed by TRON community. They’ve learned a lot from all open source Defi projects & TRON is open to collaborating w/ all of them. I want to give @MakerDAO a shoutout because it is the best amongst all! #USDJ #JED — Justin Sun (@justinsuntron) March 31, 2020
According to the white paper of the new project, because of the uncertainty surrounding many assets of Tron, the stablecoin will come to offer a much more stable crypto environment. The white paper states:
“USDJ Stablecoin is a USD-pegged cryptocurrency backed by collateral assets. We believe USDJ will become an integral part of the TRON Defi ecosystem.”