Cryptocurrency

Justin Sun Congratulates Poloniex on Launch of “Launchbase” Platform

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Justin Sun, the founder of TRON and CEO of BitTorrent, has congratulated the Poloniex Exchange team on the launch of Poloniex Launchbase. He also declared his plans about forming a strategic partnership of the Poloniex Launchbase and Tron Foundation. 

Along with the Tron Foundation, Justin Sun is ecstatic to provide complete support to the launch base platform for further development. Currently, $TRX will be the only currency that will be eligible for the purchase on the platform. 

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Till now Poloniex has collaborated with multiple quality blockchain projects to facilitate the growth and development of its community. To encourage further growth, Poloniex established a new token launching platform – LaunchBase. This platform aims to help blockchain projects grow and further develop their ecosystem.

In a series of tweets, Justin Sun, acknowledged the launch of the Poloniex Launchbase.

The first project by Launchbase is a TRON-based lending platform $JST. JUST is a decentralized lending platform where the users can stake $TRX through its CDP portal to generate $USDJ, a stablecoin pegged with USD at 1:1. $JST can be used in paying interest and platform governance.

What is the Launchbase Platform?

The Launchbase Platform aims to make collaborations precisely with projects, members of the community and industry-wide partners to encourage the adoption of cryptocurrencies worldwide. LaunchBase aims to be more than just a token issuance platform. Along with the services of offering sale and purchase of tokens, Poloniex will also provide professional advice and guidance to help the blockchain businesses gain adoption. 

LaunchBase has selected a TRON-based stablecoin lending platform called JUST as its first project. The associated Token with the platform is JST. JUST is a decentralized lending platform where one can stake TRX via JUST’s CDP portal that will enable the users to generate USDJ, which is a stablecoin pegged to USD at a 1:1 ratio. 

LaunchBase follows the first-come, first-serve rule. TRX is the only token that is currently eligible for the purchase.

Ruchi Brahmbhatt

Ruchi is an Independent Artist and a Graduate in English Literature with substantial experience as an IELTS coach. Being young and energetic, emerging technologies attract her to the core- blockchain and crypto being the most recent ones. She has also been a regular contributor of news pieces and insightful articles related to these innovative arenas. Ruchi’s other interests include human rights, art and architecture, technology, health, and social networking.

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