JUST is an innovative decentralized finance (DeFi) ecosystem designed specifically for the TRON blockchain. It offers a variety of products, mainly focusing on a decentralized stablecoin lending platform called JustStable.
The platform made its debut in August 2020 after an initial exchange offering (IEO) on the Poloniex LaunchBase earlier that year. However, its native governance token, JST, has been available since May 2020.
The ecosystem operates with two main tokens: USDJ and JUST (JST). USDJ is a multi-collateral stablecoin, keeping its value in line with the US dollar (USD). On the other hand, JST serves multiple roles on the platform, such as paying interest, platform maintenance, governance participation, and parameter settings like interest rates and collateralization ratios.
To acquire USDJ on JUST, users must deposit collateral in supported tokens, such as TRON (TRX). These get converted to PTRX tokens and locked to form a collateralized debt position (CDP). The collateral amount determines how much USDJ users can mint and withdraw, which they will need to repay to unlock their original collateral.
This platform aims to create a fair, borderless hub of DeFi products accessible to any TRON user.
Who Founded JUST?
The JUST ecosystem is overseen by the JUST Foundation, comprising individuals with backgrounds at major firms like Alibaba, Tencent, and IBM, among other top-tier internet companies. The project's website mentions that its financial analysis team includes professionals from several global investment banks.
Key figures include Terance F, a blockchain expert with previous experience at Barclays and IBM; Elvis Zhang, a senior developer and accomplished blockchain researcher; C Wu, a wallet and exchange specialist; and GL Kong, an early adopter of crypto and seasoned blockchain engineer.
While the full names and profiles of many team members are not publicly disclosed, there seems to be a connection with the TRON development team. TRON's CEO and founder Justin Sun announced the platform, and it has received both technical and financial backing from TRON.
What Sets JUST Apart?
Unlike many DeFi platforms that focus on a singular product serving a niche audience, JUST aims to develop an extensive range of products catering to numerous DeFi applications. This approach lays the groundwork for a comprehensive DeFi ecosystem on TRON.
As of January 2021, the JUST ecosystem is made up of five unique products. Each is designed to seamlessly work together to enhance user experience:
- JustStable: The central decentralized multi-collateral stablecoin platform of JUST.
- JustLend: A TRON-based money market protocol enabling users to add liquidity to lending pools and obtain low-interest crypto loans.
- JustSwap: An automated market maker (AMM) platform for conducting trustless TRC-20 token swaps and creating permissionless liquidity pools.
- JustLink: TRON's first decentralized oracle system, providing smart contracts with secure, real-world data.
- Cross-chain tokens: These are assets from other blockchains, like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), which have been tokenized on TRON for use in the JUST ecosystem.
How Many JUST (JST) Tokens Are There Currently?
As of January 2021, there are approximately 2.26 billion JST tokens in circulation, out of a maximum of 9.9 billion. This means that around 23% of the total supply is in use.
The tokens can be earned by engaging in activities like depositing, lending, and providing liquidity on the JUST Network or by participating in various special campaigns.
According to details from the initial IEO on Poloniex, the JST token distribution is as follows:
- Seed Sale: 11%
- Public Sale (LaunchBase Allocation): 4%
- Strategic Partnerships: 26%
- Team: 19%
- Airdrop (Only for TRX Holders): 10%
- Ecosystem: 30%
While specific details about JST token allocation, including the vesting period for team tokens and the inflation rate, are not fully disclosed, it is known that all team tokens will be fully vested by April 2022.
How is the JUST Network Protected?
As a TRC-20 token, the JUST Network is protected by the TRON blockchain.
Unlike platforms using the energy-heavy proof-of-work (PoW) consensus method to secure the blockchain and prevent attacks, TRON employs a more energy-efficient delegated proof-of-stake (dPoS) system.
In this system, TRON (TRX) token holders elect super representatives who are responsible for generating blocks and packaging transactions. These 27 super representatives collectively maintain network security.
Where Can One Purchase JUST (JST)?
The JUST (JST) token is very liquid and available on several of the most reputable exchange platforms, such as Binance, Poloniex, OKEx, and Bithumb. As of January 2021, JST/USDT, JST/KRW, and JST/BTC are the most actively traded pairs for JST.
Several cryptocurrency exchanges also offer direct fiat purchases of JST. For more information on buying cryptocurrency with a credit or debit card, please refer to our straightforward guide.
