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About JUST
Key Points
- JUST is a decentralized finance (DeFi) ecosystem built on the TRON blockchain.
- It consists of a suite of products, including JustStable, JustLend, JustSwap, JustLink, and cross-chain tokens.
- The ecosystem is managed by the JUST Foundation, with a team including individuals from Alibaba, Tencent, IBM, and global investment banks.
- JUST has a two-token ecosystem: USDJ (a multi-collateral stablecoin) and JST (the native governance token).
- As of January 2021, 2.26 billion JST tokens are in circulation, out of a maximum supply of 9.9 billion.
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About JUST: Empowering a New Era of Decentralized Finance
Introducing JUST (JST): A Comprehensive Overview
JUST is a pioneering decentralized finance (DeFi) ecosystem, meticulously crafted for the TRON blockchain. This comprehensive suite of products revolves around a decentralized stablecoin lending platform, JustStable, serving as its cornerstone.
In August 2020, the platform officially debuted, building upon the momentum of its initial exchange offering (IEO) on Poloniex’s LaunchBase platform earlier that year. Notably, the native governance token, JST, had already begun circulating in May 2020, laying the groundwork for the platform’s eventual launch.
In this dual-token ecosystem, USDJ and JUST (JST) tokens coexist in harmony. USDJ, a multi-collateral stablecoin, is designed to maintain a stable value pegged to the US dollar (USD). Meanwhile, JST assumes a multifaceted role within the platform, encompassing interest payment, platform maintenance, and governance participation, as well as setting key parameters such as interest rates (stability fees) and the minimum collateralization ratio.
To acquire USDJ on JUST, traders are required to deposit collateral in the form of supported tokens, including TRON (TRX), which are subsequently exchanged for PTRX tokens and locked as collateral, thereby establishing a collateralized debt position (CDP). The amount of collateral deposited determines the amount of USDJ that can be minted and withdrawn, which must ultimately be repaid in order to retrieve the initial collateral.
The platform is meticulously designed to serve as a fair and borderless nexus of decentralized finance (DeFi) products, seamlessly accessible to all TRON users.
The Visionaries Behind JUST: Meet the Founders
The JUST ecosystem is overseen by the esteemed JUST Foundation, comprising esteemed individuals from illustrious organizations such as Alibaba, Tencent, IBM, and other prominent internet companies. Furthermore, the project’s financial analysis team boasts a talented pool of experts from several esteemed global investment banks, as stated on the project website.
Notable figures include Terence F, a seasoned blockchain expert and former employee of Barclays and IBM, Elvis Zhang, a senior developer and accomplished blockchain researcher, C Wu, a specialist in wallets and exchanges, and GL Kong, an experienced blockchain engineer and early adopter of cryptocurrency.
The majority of the JUST team members’ full names and profiles remain undisclosed. Nonetheless, it is evident that the project has significant ties with the TRON development team, as the platform was unveiled by TRON’s CEO and founder, Justin Sun, and has received both technical and financial backing from TRON.
Unveiling the Unparalleled Attributes of JUST
Diverging from the conventional approach of most DeFi platforms, JUST is not merely focused on offering a solitary product catering to a niche subset of DeFi users. Rather, it is striving to develop a comprehensive suite of products that encompass a broad spectrum of DeFi use cases, thereby laying the groundwork for a holistic DeFi ecosystem on TRON.
As of January 2021, the JUST ecosystem comprises five distinct products, meticulously designed to interoperate seamlessly, thereby providing users with enhanced utility and a more comprehensive experience.
The following are:
- JustStable: JUST’s flagship decentralized multi-collateral stablecoin platform, empowering users with a robust and reliable store of value.
- JustLend: A TRON-powered money market protocol that facilitates the provision of liquidity to lending pools, thereby enabling users to access low-interest cryptocurrency loans with ease.
- JustSwap: An innovative automated market maker (AMM) platform designed for trustless TRC-20 token swaps and the creation of permissionless liquidity pools, fostering seamless and efficient asset exchange.
- JustLink: The pioneering decentralized oracle system for the TRON network, securely supplying smart contracts with real-world data to facilitate informed decision-making.
- Cross-chain tokens: Tokenized assets from disparate blockchains, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), which have been seamlessly integrated into the TRON ecosystem, expanding the realm of possibilities within the JUST universe.
What Is the Circulating Supply of JUST (JST) Coins?
As of January 2021, a total of 2.26 billion JST is in circulation, accounting for 23% of the maximum supply of 9.9 billion.
These tokens are accrued through various means, including depositing, lending, and providing liquidity on the JUST Network, as well as participating in special campaigns and completing other designated activities.
According to the inaugural Initial Exchange Offering (IEO) on Poloniex, the entirety of the JST token supply is allocated as follows:
- Seed Sale: Eleven percent (11%)
- Public Sale (LaunchBase Allocation): Four percent (4%)
- Strategic Partnerships: Twenty-six percent (26%)
- Team: Nineteen percent (19%)
- Airdrop (Exclusively for TRX Holders): Ten percent (10%)
- Ecosystem: Thirty percent (30%)
Details regarding the allocation of JST tokens, including the specifics of the vesting period for the JUST team and its inflation rate, remain undisclosed at present. However, it is confirmed that all team tokens will be fully vested by April 2022.
The JUST Network’s Robust Security Mechanisms
As a TRC-20 token, the JUST Network derives its robust security from the underlying TRON blockchain, which provides a stalwart foundation for its operations.
In contrast to platforms that rely on the energy-intensive proof-of-work (POW) consensus mechanism to ensure the integrity of the blockchain and protect against potential threats, TRON employs the energy-efficient delegated-proof-of-stake (dPOS) system, a more environmentally friendly and sustainable approach.
This process sees TRON (TRX) token holders electing esteemed super representatives, who are entrusted with the critical tasks of generating blocks and packaging transactions. Collectively, the 27 super representatives assume a pivotal role in maintaining the integrity and security of the network.
Acquiring JUST (JST): A Comprehensive Guide to Exchanges and Trading Platforms
The JUST (JST) token boasts exceptional liquidity, facilitating seamless trades on esteemed exchange platforms such as Binance, Poloniex, OKEx, and Bithumb. As of January 2021, the most sought-after trading pairs for JST comprise JST/USDT, JST/KRW, and JST/BTC.
A select few cryptocurrency exchanges offer the convenience of direct fiat purchases of JST. For a seamless experience in buying cryptocurrency using your credit or debit card, refer to our comprehensive guide.
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