Review on USDJ by Stephen Toluwani
The Defi of Tron Ecosystem
The USDJ stablecoin is a part of the Tron Ecosystem that comes basically for usage in it's DeFi area as it is used for receiving loanloans made from collateralizing TRX to unlock USDJ. The USDJ which I generated required me to Collateralize my TRX (100 trx is the minimum amount needed to mint USDJ) and a liquidation process usually occurs at 13% and I consider this a bit okay
The USDJ can also be used as a stablecoin to hedge against falling of price and the token being created on Trons infrastructural Blockchain, utilises the speed and low cost using this Stablecoin. The project hasn't gained much popularity, especially in it's use for Collateralized Debt Positions but hopefully will. Its not really an option for me to use in Defi loans but the security and backing of the Sun Organization makes it reliable
Pros
- A Stablecoin project with it's value tied to the US Dollars backed by reserves of real money
- It's major use case is to receive Collateralized Debt using TRX as collateral
- Built on the Tron blockchain, this gives USDJ more speed and less transaction cost when Compared to other stablecoins
Cons
- Its popularity is very low for use
