Poloniex Announces the Launch of LaunchBase – Tron-Powered Platform
Poloniex is revealing the creation of LaunchBase, a new Tron (TRX)-powered initial exchange offering platform, according to an official announcement.
The objective of LaunchBase is to help quality blockchain projects grow as well as develop their ecosystem. This new platform will closely cooperate with projects, community members and various partners in order to promote the adoption of crypto assets around the globe, “including via the sale of tokens to eligible participants on the Poloniex platform.”
Projects intended to conduct their offerings on LaunchBase are required to issue tokens in exchange for TRX. The first project that is expected to conduct an IEO with Poloniex is a Tron-based stablecoin lending platform called Just.
Just is a decentralized lending platform where users can stake TRX to generate the USDJ stablecoin. Further, USDJ can be used to make payments for interest, maintenance, as well as other activities.
As reported, members of several jurisdictions will not be able to take part by reason of local law requirements. Poloniex also states that more details regarding the platform will be revealed in the coming days.