UNDERSTANDING Tron DeFi Ecosystem: Part 1

Just, MakerDao, Tron, Ethereum, ETH, TRX, banks and credit debt facilities.

JUST

This is the TRON blockchain based application, which performs the role of a credit-debt-facility or Bank in the Tron Ecosystem. It is very important that you understand how it works, to understand DeFi as the credit debt facility is the foundation of the DeFi economy, just like banks are the foundation of modern economies.

Just is an application running on the Tron blockchain. Just functions as a credit debt facility or bank on the Tron blockchain. The native Token of the Tron blockchain is called a Tron, whose symbol is TRX. Just is the first credit debt facility on the Tron blockchain.

MakerDa is an application, like Just, which runs on the Ethereum blockchain. MakerDao functions as a credit debt facility OR bank on the Ethereum blockchain. The native Token of the Ethereum blockchain is called Ethereum and it’s symbol is ETH. MakerDao was the first credit debt facility or bank on the Ethereum blockchain chain, but it isn’t the only one.

Origins of the software code for Just

Just is based on the open source code of the MakerDao. The importance of this is that the code has been in use as the MakerDao for over a year, and billions of transactions have been processed on this code base. It has been viewed, commented on and modified by hundreds of developers, all contributing to make it solid, dependable code. It has been modified to use different tokens, by substituting different Token names at different points in the code. It also contains modifications of the original code base as evolutionary improvements.

#Let us review

Credit debt facility equals bank.

MakerDao equals credit debt facility or bank on the Ethereum blockchain.

Just equals credit debt facility or bank on the Tron blockchain.

The native currency of the Ethereum blockchain chain is Ethereum, whose symbol is ETH.

The native currency of the Tron blockchain is Tron, whose symbol is TRX.

To invest in any DeFi application on the Ethereum blockchain chain you need Ethereum or ETH.

To invest in any DeFi application on the Tron blockchain you need Tron or TRX.

Banks and Credit Debt Facilities

A bank facilitates transactions where physical or digital fiat currency is used to create loans against or purchase physical assets or paper representing physical assets. A bank has many complex procedures to verify the existence, condition and value of physical assets, along with their safe keeping.

A DeFi credit debt facility facilitates transactions where digital tokens are used to create loans against tokens representing digital assets or to finance purchases of digital assets like a bank, but in some ways better then a bank. A digital asset by its very nature verifies its existence and the market verifies its value.

@shortsegments