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Produced | Benz Finance
A few months ago, the global DEX trading volume did not exceed 1,000 US dollars per day, but today, due to liquidity mining, the trading volume has risen to 200 million US dollars per day.
It has to be said that DeFi has completely ignited the heat of the market. After a period of glory as the leader of DeFi, Ethereum has exposed some problems, mainly due to network congestion, high handling fees, and slow access to foreign DeFi websites. These problems seriously affect the experience of users participating in DeFi.
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What is JustSwap
JustSwap was launched at 11:00 pm on August 18. It is a decentralized exchange based on the TRON network and an automated market maker. As the most important project of TRON recently, the official has carried out strong publicity in the industry for a week. Justin Sun called it "Baibi Coin Factory", hoping to use it as an important traffic entrance of TRON's DeFi ecology.
According to the official description, JustSwap has five core advantages:
1. Traders can quickly exchange any TRC20 token. Market makers can achieve zero-threshold profit;
2. Unlimited liquidity. Liquidity is the most important factor for all projects, trading platforms, and the development of the entire industry. JustSwap can provide unlimited liquidity for thousands of traders and hundreds of applications;
3. Convenient and quick. Using JustSwap, you can trade instantly without waiting for the order to be matched, and the experience is the same as Uniswap;
4. Open to all. JustSwap has zero threshold and is open to everyone. You only need to use TRON’s wallet to participate.
So what does the real JustSwap look like?
Problems occur frequently after JustSwap goes online
First of all, JustSwap did not go online at 10:00 as originally scheduled, but was delayed for an hour. This made many users who were waiting to get rich became impatient. After the launch, JustSwap poured cold water on everyone, and there were too many problems , Say good fortune.
1. First of all, there are occasional problems that the Bobao Wallet cannot be connected to the wallet. This situation will occur on both the mobile terminal and the Google Chrome browser. Until now, some users still cannot connect to the wallet.
2. The second is the proliferation of counterfeit money, which cannot be identified. Although the official has warned of the risk in advance, there are still many users who have been recruited.
Take the two well-known projects that we are looking forward to as an example. DZI is TRON’s first AMPL-based imitation disk, and ANK is TRON’s first oracle machine. There are many counterfeit coins in these two projects, and users cannot find the corresponding code based on the contract address. Coins, so many users bought counterfeit coins.
The consequence of buying counterfeit coins is that they are taken away by the "project party" on the run.
Afterwards, everyone waited for the belated reminder from Brother Sun, and many users made complaints about it, playing a lonely game.
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Advantages and Disadvantages of JustSwap
Theoretically, the main advantage of JustSwap is that it solves the problems of slow network speed, high handling fee, and slow access speed of Ethereum. These factors will improve the experience of domestic users using DeFi products to a higher level. However, according to the actual experience on the first day, in addition to the fact that JustSwap’s handling fee is relatively low, the problem of network lag still exists. Many users have experienced the phenomenon of being refunded after the transaction failed after the exchange of tokens.
In addition, JustSwap, as a DEX that was launched after only one day of testing, has a common problem with all DeFi projects is security issues, and the loopholes in smart contracts are a major hidden danger. In April of this year, Uniswap broke out a smart contract loophole, which was exploited to steal hundreds of thousands of dollars in assets. Later, Landf.me was stolen tens of millions of dollars in assets due to the same loophole.
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epilogue
It has to be said that the pace of DeFi is too fast now. There was a one-day tour of YAM before, and JustSwap led to the collapse of the market. The bull market was taken away by Sun Ge one day.
As a well-known project party in the industry, it should launch more mature and reliable products. If it is only for the pursuit of speed to catch up with hot spots, it would be a bit irresponsible to users. The entire product will be launched after only one day of testing, and various problems will inevitably occur.
Although the currency circle in the new era needs to be looked at with new eyes, the essence of its concept is still a replica of the old secondary market gameplay. For most ordinary people, they are unable to distinguish good or bad projects and dig out high-quality projects. Yes, so it is still recommended that you look at new concepts and new products rationally. It is okay to try something early, but stud needs to be cautious.
