Global cryptocurrency exchange, Poloniex, has announced the creation of LaunchBase, a new token launching platform to help quality blockchain projects grow and further develop their ecosystem.
According to the announcement, the new initiative will help promote Poloniex’s mission to facilitate the growth and development of its blockchain community.
‼️Big news‼️
We're proud to announce the release of #Poloniex #Launchbase🚀The 1st project is newly launched #JUST, @Tronfoundation based decentralized #stablecoin lending platform! 🏦
Excited?
…yeah we are 🤩See the article for details 👇 https://t.co/qNtbMNyvKh
— Poloniex Exchange (@Poloniex) April 5, 2020
Poloniex’s LaunchBase has selected its first project a TRON-based stablecoin lending platform called JUST, and its associated token JST.
JUST is a decentralized lending platform where users can stake TRX via JUST’s CDP portal to generate USDJ. A stablecoin pegged to USD at a 1:1 ratio. JST can be used for paying interest, platform maintenance as well as other activities on the blockchain.
TRON’s partnership
TRON CEO, Justin Sun, in a series of tweets on his official Twitter handle, has reiterated his platform support for Poloniex’s LaunchBase. And emphasize TRON support for the LaunchBase platform and its future development.
(1/6)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. https://t.co/amRgWKjNiH
— Justin Sun (@justinsuntron) April 5, 2020
TRON Foundation promises to offer professional help to the selected teams who will manage to appear in the LaunchBase. The new projects will gain traction, adoption, and recognition, thanks to Poloniex userbase.
The LaunchBase platform will also collaborate closely with projects, community members, and industry-wide partners to seed and promote the adoption of quality cryptocurrencies worldwide. Mainly through the sale of tokens to eligible participants on the Poloniex platform.
Notably, all participants will be subject to eligibility and screening requirements. Unfortunately, due to local law requirements, members of certain jurisdictions may not be able to participate.
First-Come, First-Serve Basis
LaunchBase also stated it had adopted a first-come, first-serve rule, and TRX, the token of its launch partner TRON, will also be the only available currency for purchases for the meantime.
Poloniex had recently announced that BitTorrent and WINk token would be the first set of tokens on its trading platform.
Poloniex has also planned to switch up how it’s market continually, and trading pairs are exhibited. Besides, platforms’ users also get to trade TRX. The pairs include ETH/TRX, XRP/TRX, BTT/TRX, and WIN/TRX in a special TRX section.
Alongside the trading pairs, the exchange will also contain an altcoin segment for its ETH market.
