What does Just Swap exchange going live and Just-Steem partnership mean to Steem holders?

in Project HOPE3 months ago (edited)

Good News: The Just Swap exchange goes live on the Tron blockchain.

Just, Just Swap, Tron and Steem, the future is coming fast!

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Source

The @steemitblog mentioned the Steemit-Just partnership in their blog a few Steemitblogs ago and many on the Steem blockchain were excited!

Many of us are excitedly waiting to learn more and there is great anticipation for the first post of @just-defi to tell us more.

I thought it might be helpful to write about connecting MakerDao, Uniswap, JUST and Just Swap.

MakerDao is the most successful credit debt facility on the Ethereum blockchain. While it may one day be eclipsed by its competition, right now it’s on top.

JUST is a credit debt facility modeled after the MakerDao, but it is on the Tron blockchain. Transactions on the Tron blockchain are faster and cheaper the MakerDao transactions on the Ethereum blockchain. Plus you can invest Tron and Tron TRC20 tokens, the Tron equivalent of ERC20 tokens in the Just Credit Debt facility, which is also on the Tron blockchain, similar to the way investors invest on the MakerDao on Ethereum.

Uniswap is an exchange platform based on the Ethereum block chain. It features coin swaps for many small cryptocurrency projects. It allows creators of new coin programs to swap their coins for stable coins like Tether and also for Ethereum. It also allows these projects to create ERC20 tokens out of their project token. These capabilities mean these small projects can engage in DeFi on the MakerDao and other Decentralized Finance applications on the Ethereum blockchain. Uniswap has been very successful with Liquidity estimates of 150 million dollars, but is also credited with making the success of the MakerDao possible by providing services to hundreds of small cryptocurrency projects.

Just Swap is an exchange platform on the Tron blockchain modeled after Uniswap. The launch of JUSTSWAP means all those operations available on Uniswap will soon be available to Tron token holders on the Tron blockchain via Just Swap.

Plus at some point other cryptocurrency projects will be able to swap their coins with stable coin pairs like Tron/Tether, or other coins like Ethereum. These diverse types of pairings require liquidity pools, essentially places investors deposit the tokens and stable coins for interest payments and they provide liquidity for these pools. So other investors can swap their crypto tokens for stable coins and vice versa. These also means ERC20 equivalent TRC20 token creation for these smaller cryptocurrency projects and creation of CDP loans like on the MakerDao by transferring these new TRC20 to JUST.

#It’s a new DeFi ecosystem on the Tron blockchain, which has faster transaction times and cheaper fees then Ethereum and may feature cheaper ERC20 creation also.

Staking, CDP, Liquidity pool yields and stable coin swap pairs. Sounds like DeFi to me, and that’s great for coin value and increases worldwide awareness of coin projects.

What does this mean for Steem?

This is great for the Steem-Tron ecosystem because it increases utility for the tokens, increases buying pressure and holding time for the token as they are locked up in smart contracts on the DeFi platform JUST.

I am hopeful we will get a Steem pairing with Tron or the Stable-coin Tether or USDT, so WE can invest in DeFi on the Just platform easily. Maybe we get a dollar/Steem pair for direct investment or other coins like Ethereum.

These pairs like dollar/Tron or dollar/Steem make direct investment via credit card or debit card possible which is huge. And the dollar/Steem pair or dollar/Tron pair would bring business from other exchanges as the dollar is a universally accepted fiat currency world-wide. So people could cash out their Steem on Just-Swap also and contribute to the financial growth and health of our Tron-Steem ecosystem. Plus if atomic swaps between Steem and Tron become a reality it will be that much easier for accounts on Steem to swap to Tron and access the DeFi investment tools there.

Steemit Wallet Activity on Github Steemit computer code repository

Link

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Possible increase in token value?

And for those not interested in DeFi, you can still enjoy, I hope, the pleasant side effect of busy DeFi platforms as observed on Ethereum, Binance, Kava and others: increased Token value

Who doesn’t like that effect?! :)

This will help every one who sells their Steem for life expenses and for investors cashing out.

@shortsegments

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I see at the end of your post: "For those not interested in Defi". For the ones that are not interested just don't understand the potential possibilities for our entire financial system.

Same as blockchain, even in August 2020 90% of the people have no clue what it is or what value it has. Defi is in the same category but even more mysterious.

There is some wallet activity in the Github of Steemit so they are working on migration. At the end of JS talk on Dlive the other day, he mentioned Tron is working on oracles to interact with the Tron chain.

That STEEM, in any form, is not listed on JustSwap or their lending platform is because they havent got (imo) the interoperability code in place. But.....

Hi @steemingcurators

I understand what your saying about mysteries. The potential of the platform is obscured by a haze of difficult terms and branching but related concepts. I happy to hear about the Github activity and hope it preshadows good things. There have also been announcements about projects forming partnerships with JUST to perform cold storage of wrapped tokens on JUST. These entities along with oracles are essential for Tokenization and DeFi. It looks like the pieces are coming together for the Tron DeFi ecosystem, and I am eager to see Steem’s role in this, but I know it may take more time to fully reveal it.

Thanks
@shortsegments

I found this so far looking at GitHub:

Link

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Steemit was doing DeFi before DeFi was Cool

#steem-defi
#steem-staking
#defi

Thanks for sharing this info, always wanted to know more about what the Just partnership actually meant for Steem holders. To be honest, I didn't even know Just was another DeFi project LOL

If you have any more info about this, I would love to see it :)

PS If you want your DLease order to be filled faster, you should split it into smaller orders :)

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Thank you for your positive comment and the tip about Dlease!

I checked the website of Just but I don't find appealing in the current stage. The biggest problem of Tron they don't innovate and just copy code without building additional features.

Hi @chesatochi

I understand your concern. I think JUST uses code from the MakerDao, but there are some improvements buried in the CDP pools, which spreads out risk, lowering liquidations and rewarding them for holding coins below Collateralization ratio maximum limits. I hope other improvements are coming. There is github wallet code activity, other projects are providing cold storage for wrapped coins and others providing oracles.

I think it’s a work in progress.
@shortsegments

Do you think is worth it to make a review of it in my crypto channel on YouTube? I have installed Tronlink last week.

I made a review of Oikos that you might find interesting to check:

CC92 - Oikos DeFi Solution on Tron Ecosystem

Hi @chesatochi
I think it’s a great time for you to publish this article and I would love to review it and place pictures and links, with your permission.
@shortsegments

I plan to make a vlog and see what is hiding behind the hood.

Is STEEM listed yet? Has there been any other comments from Justin or @steemitblog about how this will work for STEEM?

From the outside looking in, it looks like it launched with all the other coins they were mentioning, but without STEEM for whatever reason?

I think there’s activity on the Steem Github on wallets, so maybe something soon.

Is there a link to the activity? Thanks in advance!

https://github.com/steemit/wallet/pull/158/commits

Check out this link!

There are further commits being done on Github from as soon as just 2 days ago, this is still very much a WIP and active development, very exciting indeed. Hopefully integrating TRX onto steemitwallet is a step towards more collaborations between the two ecosystems.

I might make a post on this later as well as it does pique my curiosity

I agree it looks like many changes in store for the Steem wallet, including addition of Tron tokens to the wallet and a portal to JUST.
I look forward to your post.

I think we should start by educating and educating ourselves more about what DeFi is and the possibilities of use. In order for there to be really great use of these services. I still don't know the role of steem in all this, they haven't been clear on what's coming, at least it hasn't been clear so far for me. Many of us are still waiting for what comes, for what the official accounts might say about it. We all want a much higher price for steem, obviously, time will tell. Thank you for sharing your point of view @shortsegments

Hello @josevas217

I agree there are many questions and a lot of excitement, but I agree that the Big Question is what does this mean for Steem?

@shortsegments

Yes @shortsegments, that's a great detail, because everything is heading towards TRON, and that's fine, but what about or will happen to Steem in all this? I still don't see what all this brings for Steem, we can only hope, and in a hopeful way, that everything will impact favorably towards this platform.

I think Steem Community brings something to Tron community and ecosystem that Tron doesn’t have.
I don’t know that much about Tron to answer that question, but the GitHub activity would suggest that Tron token is coming to the Steem wallet, along with a link to the Just platform. I will look for any published analysis of the effect of a listing on Uniswap on the Token projects who used it as a pathway into the MakerDao ecosystem on Ethereum, The charts of their Token prices may be revealing.

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