TRON Founder Releases Crypto Token Named After Himself

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In Brief
  • Justin Sun is releasing a new stablecoin on the TRON network named after himself.

  • Called JUST token, the stablecoin is supposedly pegged to USD.

  • The announcement was met with skepticism.

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The Trust Project is an international consortium of news organizations building standards of transparency.

TRON’s founder Justin Sun, known for being sensationalist in his self-promoting, just released a token named after himself.

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Sun has long been a controversial figure in the cryptocurrency industry. Something of a showman, he has used every opportunity to promote his cryptocurrency TRON — from the coronavirus pandemic to even Kobe Bryant’s death. 

Now, he has taken this a step further by even naming a token after himself.

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JUST Token

In a special announcement, the TRON stablecoin platform has completed a test of a new token. Called JUST, it is a stablecoin which will run on the TRON network.

The token will be trading under the abbreviation USDJ and launched its mainnet on April 4. The token’s name is clearly inspired by Justin’s own name which did not go unnoticed.

Others seemed to make the obvious joke of connecting JUST token to a well-known meme in the cryptocurrency sphere. You may be familiar with it already:

The JUST token will have its own section on TRON’s block explorer. At the moment, no exchange has committed to listing the token.

Justin Sun may be releasing the stablecoin after it became clear that Tether Treasury was losing interest in migrating USDT to Tron’s network. As BeInCrypto reported, Tether is ditching TRON for Ethereum.

Sun’s Reputation Takes a Hit

Ever since it was exposed that Sun was trying to take over Steem, his critics have been getting louder and louder. The announcement of JUST token was met with widespread mockery and accusations of him being a scammer.

Two months ago, he faced criticism when TRON’s super representatives voted to increase their own block rewards and removed the total hard cap for TRON tokens entirely. Sun claimed he had nothing to do with the decision.

JUST may end up being yet another marginal token in TRON’s ecosystem, but it’s the latest attempt by Sun to try to shore up attention for himself and the TRON blockchain. Until there are audits or proof that USDJ will be backed by real dollars, exchanges will be unlikely to list it. As of now, no exchanges have commented on TRON’s new stablecoin experiment.

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Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.

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