Tron’s DeFi Push, JustSwap, Partners with Decentralized Exchange (DEX) 1inch & Mooniswap
The DeFi aggregator, 1inch Exchange, is working on integrating several blockchains. Today, they announced a partnership with Ethereum’s competitor Tron.
The DEX that offers swaps limit orders, and has an interface for finding the best liquidity pool where everyone can provide liquidity and earn on the APR, according to its founders Sergej Kunz and Anton Bukov, will also be working with NEAR blockchain and Polkadot as well.
As of now, 1inch will fully integrate with Tron’s decentralized trading protocol JustSwap and its automated market maker (AMM) Mooniswap will be integrated into Tron blockchain.
With this partnership, users will enjoy “faster, cheaper service, high-throughput scalability, huge developer community, and a massive social media following,” said Kunz, the CEO of 1inch.
While supporting Tron blockchain means best rates for Tron assets for 1inch users, Mooniswap’s addition will help improve Tron’s DeFi ecosystem.
Additionally, liquidity providers on the Tron blockchain will be prevented from arbitrage traders taking advantage of swap slippages, thus increasing LPs earnings.
Tron’s regular users will also “get an extra level of protection from front running attacks.”
In turn, Tron plans to reward the LPs on Mooniswap with TRX tokens as an “additional incentive and reward.”
Justin Sun’s stab at DeFi opportunity in the form of JustSwap has been reportedly seeing a daily volume of $100 million.
JUST token price meanwhile remains in the red at $0.0415, much like TRX, which bucked the trend and dropped despite the market enjoying gains, trading at $0.0328.