Justin Sun has hinted of launching a wrapped version of Bitcoin on the Tron network, a move which would bring Bitcoin’s value to Tron’s DeFi ecosystem as well as capitalize on the efficiency of the Tron network.

The Founder and CEO of Tron was responding to a tweet asking him to transfer some of the TRX bullish energy to Bitcoin. This was after Tron seemed to escape from the crypto-market sell-off that saw Bitcoin drop to as low as $9,970 – Binance rate.

Justin had also earlier been requested to bring Ethereum’s value to the Tron ecosystem by Tron community member Mike McCarthy. Ethereum gas fees continued to skyrocket as a result of high transaction activity brought about by DeFi.

The Tron network has been hailed as being efficient when compared to that of Bitcoin and Ethereum. The Tron network can handle a maximum of 748 transactions per second. In terms of fees, simple transactions on the Tron network are free. For smart contracts, the cost for each contract call is very cheap when compared to Ethereum and can be calculated beforehand.

Therefore, tokenizing both Bitcoin and Ethereum on the Tron Network would be beneficial for the DeFi industry in the Tron ecosystem. Wrapping these major digital assets would be ideal for DApps that would like to capture the value of BTC and ETH, as well as utilize the speed and low costs of operating on the Tron network.

TRON has headquarters in the Americas and Asia Pacific and is known for its cutting-edge blockchain technology. TRON Network had earlier announced a strategic partnership with Band Protocol to bring secure and verified decentralized oracles to power its rapidly growing DeFi and decentralized application space. Both teams have joined forces to solve the blockchain scalability issue and bring customizable and decentralized oracles for all TRON developers as well as various leading DApps in the TRON ecosystem, one of the largest blockchain-based operating systems in the world.

CEO Brian Armstrong believes it could be a “huge unlock for crypto economy”

Coinbase, the digital currency exchange, headquartered in San Francisco, California, is developing a token crowdfunding platform for crypto startups launch their own tokens.

CEO Brian Armstrong confirmed the plans during a podcast interview in August with O’Shaughnessy Asset Management CEO Patrick O’Shaughnessy, with a transcript noting that the service could be called “Coinbase Launch”—although the name has not yet been finalise.

The platform will streamline clients’ token launches from custody to smart contract creation to governance to distribution.

Coinbase is also reportedly eyeing a tokenized capital raise. It is reportedly preparing for an initial public offering (perhaps using blockchain-based tech) in mid-2021.

Coinbase would build the platform to launch tokens, but it wouldn’t be hands-off like Kickstarter. The exchange would help with the step-by-step process of functionally executing on those plans.

Armstrong said the platform would be like a combination of startup toolkit Stripe Atlas and startup job/investment site AngelList. Armstrong believes the platform “could be a huge unlock for the crypto economy” and projected it could power “a thousand new startups”. Adding what is commonly known as an Initial Exchange Offering platform to its mix would likely beat out existing IEO platforms and attract new prospective token crowdfunders to Coinbase.

There is also no announcement as to when the Coinbase platform will launch.

Coinbase’s Asia Head of Institutional Sales, Kayvon Pirestani, was the first to comment on the potential for such a platform in September 2019, telling CoinDesk that it would be a “really interesting opportunity” and that the company was “carefully exploring” such plans.

Coinbase currently brokers exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many others, with fiat currencies in approximately 32 countries, and bitcoin transactions and storage in 190 countries worldwide.

Justin Sun, CEO of the TRON blockchain, has announced his latest project—$SUN—a decentralized finance (DeFi) meme coin named after himself.

Though the coin will officially launch on 16 September—which the flamboyant CEO has christened SUNday (even though it’s a Wednesday)—mining for $SUN will commence on 2 September.

Sun says this is “a genuine effort to allow a community to govern itself”. There are no investments from venture capitalists nor private sales, nor pre-mines nor reserves for the team. Instead, $SUN is “wholly operated by the community through its open-source smart contracts,” tweeted Sun.

$SUN will power SUN Finance, a DeFi smart contract. From the looks of it, $SUN is another yield farming token—governance tokens issued as rewards for staking crypto in its smart contract—only this time on the TRON blockchain.

Governance tokens are the hot new thing in crypto and largely responsible for the DeFi boom of 2020—an industry into which investors have poured over $9 billion, much of it in the past two months.

$SUN will provide liquidity for TRON tokens and can be sold on secondary markets or used to vote on network governance proposals.

Many DeFi meme coins have also spiked in popularity—$YAM, $TENDIES, $SUSHI for instance—and have risen by thousands of percentage points shortly after launch. $SUSHI, for instance, has risen 74% in the past 24 hours.

Once the efforts of central banks in many countries to boost liquidity by printing currency notes amid the Covid crisis falls apart, traditional fiat money will be replaced by its digital version. But decentralised blockchain alternatives like Bitcoin could actually be much better than that centralised global cashless society system, says Simon Dixon.

“Fiat currency is going to be 100 percent digital very soon. The interesting thing that people confuse is that they often think the central bank digital currency is the same thing as what we’ve already got because the money is already digital and there’s a war on cash and cash has virtually disappeared anyway.

“But there is actually a major difference. When a country actually creates a central bank digital currency, they issue it into the economy, and it’s going to be an awful effect on your privacy, your freedom to spend your money as you choose, it’s going to be intersected with compulsory vaccines, the anti-money laundering regimes and automated tax collections. So that’s where Bitcoin really comes in, it gives people an opt-out and an exit option,” the crypto evangelist told Kaiser Report podcast recently.

Another subject that came up during the interview was the legality of cryptocurrencies in several countries. Dixon quipped that the more stringent measures against virtual currency, the more it’s prices will go up.

“We already have seen cases, we’ve seen that China banned (crypto) exchanges and it pushed the price from USD 3,000 to USD 20,000, and now we’re starting to stabilize a bit more. So, I think we’d be very naive to think that governments wouldn’t try to ban Bitcoin when they start to realize and it becomes a political power play, we already saw that you know with gold in the past,” he said.

“When a country actually creates a central bank digital currency, they issue it into the economy, and it’s going to be an awful effect on your privacy, your freedom to spend your money as you choose… that’s where Bitcoin really comes in”

According to the founder of bnktothefuture.com, while crypto currencies would be perceived as an enemy by some economies, many others would see it as an opportunity.

“For instance, in countries like Lebanon, I think they’re going to have an opportunity to accumulate Bitcoin and then announce it as one of the reserves on their central bank. So, fortunately the competitive forces I think will make it where if one country makes it illegal, another country will see that as an opportunity,” he said.

Dixon describes Bitcoin as “your own bank”. “So, what happens in a post post-fiat world like how much entrepreneurship a flourishing of like fraud free or certainly reduced fraud environment like what happens I don’t think we’re gonna see a post-fiat world i think fear will survive and it would just be in a different format, it’s fear that you’re going to see is going to have less freedom, less sovereignty, less privacy and lots of really horrible features built into it.”

“If banks go past, it’s not that the banks go away is that the banks have a choice of either adjusting to the central bank digital currency they don’t get a super subsidy they they are no longer too big to fail because the central bank can just let them fail and there’s a way of you know auctioning off all the debt and replacing money with a central bank digital currency. So, it actually drives banks to be more honest ,” he said.

At the end of the interview, Kaiser describes Dixon as “futurist”.