Poloniex, a US-based crypto exchange and strategic partner of Tron, has announced the release of LaunchBase, a token launching platform geared to promote the adoption of quality cryptocurrencies worldwide.
Poloniex made the announcement in a blog post published Sunday, April 5. According to the announcement, the first project of LaunchBase will be a Tron-based stablecoin lending platform called JUST, and its associated token JST.
Through JUST, user can stake TRX via JUST’s CDP portal to generate USDJ, a stablecoin pegged to USD at a 1:1 ratio. Furthermore, the TRX will be the only cryptocurrency for purchase at the platform.
JST token will only be used to pay interest, platform maintenance as well as other activities on the blockchain.
According to Poloniex, LaunchBase will collaborate with cryptocurrency project, community members, and its industry-wide partners to support quality blockchain projects to grow and further develop their ecosystem.
The platform will also promote the ventures issuing tokens via the sale token to eligible participants on the Poloniex platform. Poloniex assures ventures that all the investors and participants on its platform will be subjected to eligibility and screening requirements.
Poloniex said the LaunchBase platform will serve on first-come, first-serve rule. Poloniex further said:
“LaunchBase aims to be more than just a token issuance platform. In addition to providing an avenue for community members to buy and sell tokens, Poloniex will also offer professional advice and guidance to help these blockchain businesses gain traction and adoption.”
Justin Sun, CEO and co-founder of Poloniex launch partner Tron, expressed very warm sentiments about the project. He expressed his view in a Twitter thread. He said:
“Huge congrats on launching @Poloniex #LaunchBase, a world-leading token sale platform! As Poloniex’s strategic partner, @Tronfoundation and I will fully support the LaunchBase platform and its future development.”
Talking about the TRX-based stablecoin lending platform JUST, Sun wrote:
“#JUST leverages an array of benefits that #TRON has to offer, including lower fees, greater speed, higher TPS and a well-rounded #DApp ecosystem compared w/ other platforms. We look to further perfect TRON’s #DeFi ecosystem centred on JUST to extend benefits to everyone.”
Poloniex, based in Delaware, United States, is crypto exchange founded in 2014 by Tristan D’Agosta. As Crypto Economy reported, Poloniex spun off from Circle which acquired it in early 2018 for $400 million. The exchange was acquires by an unnamed Asian investment group reportedly being run by Justin Sun and now operates under a newly formed company known as known as Polo Digital Assets, Ltd.
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