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- 1 The JUST Foundation has developed an ecosystem to support its existing blockchain and token.
- 2 It is a DeFi platform specifically built for the TRON blockchain, providing a fair and borderless hub for all the products.
- 3 The founding and controlling of TRON and JUST are believed to share the board, based on team formation and structure.
JUST is a newly established decentralized finance (DeFi) ecosystem developed for the TRON blockchain. It offers a group of products that are developed around a decentralized stablecoin lending platform known as JustStable.
The platform was launched in August 2020. The developers of the JUST Foundation are a group of excellent technical and financial personnel. A part of the technical team is from Alibaba, Tencent, IBM, and other tier-one internet companies. Most of the experienced people are currently working as seniors in product design and development for the ecosystem.
The financial analysts on the team have experience working in investment banks around the world. The operations team has experience in the blockchain industry.
Moreover, it provides strong support for the TRON ecosystem.
JUST Network launched its initial exchange offering (IEO) in 2020 on the Poloniex LaunchBase platform. The native governance token (JST) of the platform has been in circulation since May 2020.
It is a two-token ecosystem, namely consisting of JST and USDJ. USDJ is a multi-layer stablecoin whose value is derived from the value of the US dollar. However, JST serves various functions on the platform, such as paying interest, helping to maintain the platform, participating in its governance, and helping to set parameters like interest rates (stability fees) and the minimum collateralization ratio.
The objective of the platform is to provide a fair and borderless hub for DeFi products. It is accessible to all TRON users.
JST Token
JUST (JST) is a native token developed for dApp governance and different protocols available on the JUST ecosystem. The tokens can be acquired through trading, mining, and participating in campaigns.
The token was developed to create TRON-based DeFi protocols and aims to deliver multiple and exclusive financial resolutions to its users.
Characteristics of the JST
Trust and authorization-free
It facilitates accessibility and availability for every user, does not require a license from third parties, and its smart contracts are capable of automatically executing all the transactions without the involvement of an intermediary.
Security
Users of the platforms are not exposed to any significant risk as economic business logic is executed utilizing smart contracts. With the help of these smart contracts, the on-chain actions are traceable, and the third-party audits can be implemented strictly.
Standard and Interoperability
It is based on the standardized financial protocol and contract-based DeFi factors. The protocols of the network can be wrapped with other features to create more potential scenarios in the future to enhance interoperability among various products and protocols.
Decentralization
Holders of JST tokens are collectively responsible for managing the JUST community, completing judgements on incentives, and pooling actions for the development of the next-generation DeFi ecosystem.
The system’s governance also primarily depends on JST holders. Income is generated from the stable prices of USDJ for holders. Moreover, they are also responsible for the management of the JUST system, which is achieved through the selection of correct proposals from JST voters.
The JST holders are allowed to vote and decide on the smart contract and they can alter the system parameters. The contract with the most votes gets selected and becomes a reasonable proposal. It has system access to change internal system management variables as per the determined logic.
Products of Just Network
JustStable
It is a decentralized finance system for the USDJ stablecoin. It is available for everyone, anywhere, and anytime.
JustLend
It is a platform that aims to oversee repayment and keep everyone updated and the borrower is allowed to choose the term length and interest rate.
JustSwap
It is a decentralized exchange and is capable of converting any TRC20 token based on a system price. All the generated trading fees on the platform are directly transferred to the liquidity providers of the protocol instead of going through the protocol itself.
JustLink
It is a provider of Oracle blockchain services. It offers smart contracts with real-world data, including lending prices, stablecoin exchange rates, derivative prices and market estimation.
Conclusion: Security of Just Coins
It is a TRC-20 token and the TRON blockchain secures the JUST Network. It uses the energy-efficient dPoS (delegated proof-of-stake) mechanism. TRX token holders select super representatives tasked with generating blocks and packaging transactions. Twenty-seven representatives are collectively responsible for the security of the network.
FAQs
Where is the JST token listed?
The exchanges that list JST include DigiFinex, Poloniex, OKX, and Bithumb.
Which are the most common trading pairs involving JST?
The most popular trading pairs are JST/USDT, JST/KRW, and JST/BTC.
What kind of exchanges support JST?
Centralized crypto exchanges support trading of JST.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
