USDJ

The whitepaper outlines USDJ as a stablecoin tethered to the US dollar, supported by collateral assets and generated through decentralized smart contracts on the TRON network. It explains, "Anyone can put up TRX as collateral to create USDJ." This coin maintains its peg to the US dollar using Collateralized Debt Positions (CDPs) and incorporates autonomous feedback systems. The goal for USDJ is to become a core component of the DeFi ecosystem on TRON.

USDJ is part of the JUST DeFi ecosystem on Tron, which includes JustStable and the JustLend DAO.

USDJ was developed within the JUST network ecosystem. The JUST Foundation, made up of a dynamic and skilled group of professionals with backgrounds from companies like Alibaba, Tencent, and IBM, is responsible for its creation.

According to the whitepaper, generating USDJ involves depositing collateral into Collateralized Debt Positions (CDPs). Users start by converting TRX to PTRX. To generate USDJ, they must carry out a transaction on JUST to establish a CDP and then deposit PTRX, the collateral, into it. When a CDP holder initiates a transaction to create USDJ, a corresponding debt is produced, and the collateral remains locked until the debt is repaid, thereby rendering the asset unavailable for redemption.

To ensure price stability, USDJ initially maintains a 1-to-1 peg with the US dollar. During market volatility, a Target Rate Feedback Mechanism (TRFM) is implemented to stabilize its value.

When the value of USDJ reported by Oracles diverges from the actual US Dollar rate, JST token holders can trigger a global settlement procedure to prevent potential risks and losses. This involves three stages:

First, the global settlement mechanism kicks in, preventing CDP holders from creating or altering their positions. Meanwhile, a fixed price feed is maintained to process all claims accurately and swiftly.

Second, within the JUST system, keepers use this price feed to auction off all debt and collateral assets in a decentralized manner, allowing for the settlement of claims by USDJ and CDP holders.

Finally, once global settlement claims are managed by Keepers, all USDJ and CDP holders can petition on JUST to exchange their holdings for a stable amount of TRX based on the USDJ's target price. There is no set deadline for when users need to take this step.

Additionally, the USDJ stablecoin system features a robust risk management framework. Within the JUST governance system, JST holders exert full control over crucial decisions to regulate ecosystem risks. This includes adjusting sensitivity parameters via the Target Rate Feedback Mechanism (TRFM), altering the Target Rate, selecting reliable oracles, and implementing other security measures as detailed in the official whitepaper.

At the time of writing, there are 273,293,162 USDJ coins in circulation.

USDJ exists as a TRC-20 token on the Tron blockchain. Tron utilizes a delegated-proof-of-stake (DPoS) consensus mechanism, relying on a network of 27 super representatives to verify transactions and incorporate them into blocks. These Super Representatives are elected through an open voting process.

You can buy USDJ on several centralized exchanges, including Kucoin, Huobi, Poloniex, and MEXC. Additionally, USDJ can be traded on decentralized platforms like Sunswap V2.

Keep an eye on USDJ's price in real-time using the CMC mobile app.