Forget Ethereum! DeFi On Tron Is About To Explode
I remember when the DeFi and Yield Farming craze started,I was very reluctant! But then after seeing what YFI did and how tokens with the word yearn on them have been performing, FoMo kicked in.
I finally decided to try get in on the action but unfortunately the Network Fee on Uniswap has been ridiculously high.
I had to dive into thorough research on Yield farming and DeFi on other chains apart from Ethereum and I discovered that Tron has its own defi thing going on.
There's Justswap which is an equivalent of Uniswap but on Tron Network. The network fee there is literally close to zero and way less compared to Uniswap and Ethereum network in general.
I finally got in on the action and I have been farming Corn🌽 (which goes for a current market price of $640 down from about $1400) through Staking JST.
Its also possible to farm other tokens such as Pearl and JFI(the YFI of Tron)
The last few days Justin Suntron launched a DeFi project called SUN☀ where you can stake TRX and earn SUN.
Even though its a social experiment, over 6 billion TRX has already been staked as we speak.
Tron's Defi is definitely catching up to Etheruem's Defi.
I believe Tron network has the ability to take a good share of the DeFi market from Ethereum network due to the extremely low fees.
I also believe that in the next few months an exchange like Justswap will catch up to Uniswap's trading volume.
It will be pretty much interesting to see how these things unfold.
All the same keep on farming whether its on Ethereum or Tron network.