JUST (JST): The DeFi Ecosystem on TRON
JUST represents an initiative focused on creating DeFi products compatible with the TRON blockchain, with its inception dating back to 2020.
JUST products
USDJ. This decentralized stablecoin is pegged to the US dollar at a 1:1 ratio and backed by fiat reserves.
It keeps its exchange rate stable with an automatic feedback mechanism. If the USDJ price dips below $1, this mechanism escalates the target rate for Collateralized Debt Positions (CDP), thus shrinking the supply of USDJ. Consequently, the market value of USDJ reverts to the target level. In contrast, if the price exceeds the target level, the mechanism lowers the target rate, leading to a decrease in market price.
The stablecoin can be earned as a reward for engaging with the JustLend DAO platform services such as staking and trading. Furthermore, you can secure a loan in USDJ by providing collateral in the form of TRX or other tokens. These collateral assets are then locked within JustLend DAO serving as a debt deposit.
JustLend DAO. This DeFi platform specializes in cryptocurrency lending and yield farming. Users can stake tokens, secure loans backed by collateral, participate in yield farming, and lease energy for conducting transactions within the TRON network.
Energy, integral to transactions, is a key aspect of the TRON blockchain. Each transaction on JustLend DAO relies on energy that stems from either staking or burning TRX. Interestingly, the Just DeFi platform provides the option to rent this energy without the need to resort to the traditional methods mentioned.
Key advantages of JustLend DAO:
- The ability to withdraw staked tokens at any time
- Its compatibility with other TRON-based applications
- Swift and cost-effective transactions
Just Cryptos. Acting as a cross-chain bridge, it connects tokens originating from the TRON blockchain with other cryptocurrencies. Additionally, it facilitates connectivity between the TRON blockchain and the entire JUST ecosystem, thereby enabling the transfer of assets between these platforms.
Homepage of the JUST website, source — just.network
The platform’s native token
JST is the native token employed within the suite of JUST DeFi products. It serves not only to manage the platform but also as a means for token holders to vote on improvements to decentralized applications (dApps).
In addition, JST operates as the transaction fee mechanism on the JustLend DAO platform, ensuring smooth operations. Beyond this, the JST token can be deposited into the DeFi platform, and offered as liquidity for lending purposes, among other uses.
The token debuted on the Poloniex exchange via an Initial Exchange Offering (IEO) in May 2020.
Here is a breakdown of the JST distribution:
- 30% is locked within the ecosystem
- 26% has been assigned to strategic partners
- 19% is kept by the team
- 11% has been reserved for seed sale
- 10% was distributed to TRX token holders through airdrops
- 4% was made available for public sale
At the time of the article, the market capitalization of the token stands at $208.3 million according to CoinGecko, with 8.9 billion JST tokens circulating. The maximum supply is capped at 9.9 billion coins.
The creators of the JUST DeFi ecosystem
While specific names of the project founders aren't disclosed on the JUST website, it does reveal that the products have the backing of the Just Foundation. The team includes technical experts with experience at major corporations such as Alibaba, Google, IBM, Tencent, Facebook, and Yahoo.
However, CoinMarketCap lists individuals who could potentially be associated with the project, including developers Terance F and Elvis Zhang, cryptocurrency expert C Wu, and blockchain engineer GL Kong.
Moreover, those working on JUST's products include analysts with backgrounds in international investment companies and seasoned blockchain experts who are advocates of the TRON network.
