Tron CEO Justin Sun has announced today on Twitter that his new stablecoin JUST (USDJ) sold out in under five minutes.
This was the first token issued on Poloniex’s IEO platform LaunchBase. At the moment Sun and TRON are currently in the middle of a lawsuit alleging the sale of unregistered securities in the United States.
The new stablecoin is pegged to the US dollar and was the first token launched on the crypto exchange Poloneix’s new Initial Exchange Offering (IEO) platform LaunchBase.
Poloniex, which Sun holds shares in, said last month that the stablecoin would be generated from Tron tokens (TRX) through a Collateralized Debt Position on the stablecoin’s JUST platform.
$JST Token sale is complete. Finished in 4 minutes 26 seconds. @Poloniex
— Justin Sun (@justinsuntron) May 5, 2020
$JST tokens sold out in 4 minutes 26 seconds! pic.twitter.com/FvjwWjACbI
— Poloniex Exchange (@Poloniex) May 5, 2020
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