JUST is a decentralized lending platform where users can place, hold and hold a Tron through the CDP portal. USDJ is a stablecoin with a 1: 1 ratio (one-to-one), backed by dollars. This means that a USDJ is equivalent to one dollar and users can create it by sticking a Tron on this platform. On the JUST platform, there is another token with the JST symbol. Just Currency is used to pay off the interest on loans, platform stability, and participation in management decisions through activities such as voting and other activities in this blockchain.
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What Is JUST (JST)?
JUST is a new decentralized financial ecosystem (DeFi) built for the TRON blockchain. This is a complete set of products that is mainly focused on a decentralized stable coin lending platform called JustStable.
The platform was launched in August 2020, following the initial public offering (IEO) of the Poloniex LaunchBase platform earlier that year, but the platform’s Indigenous Sovereignty (JST) has been in circulation since May 2020.
It is a two-sign ecosystem built around the USDJ and JUST (JST) tokens. The USDJ is a multi-security stablecoin whose value is related to the value of the US dollar (USD), while the JST has a variety of functions on the platform – paying interest, helping maintain the platform and participating in its governance, helping to set parameters Such as interest rates (stability fees) and minimum collateral ratios.
To obtain USDJ in JUST, traders must deposit collateral in the form of backed collateral tokens – including TRON (TRX), which is exchanged for PTRX tokens and locked as collateral when a debt position arises. Forms collateral (CDP). Depending on the amount of collateral deposited, users can multiply and withdraw the USDJ, which must then be repaid to recover the original collateral. This platform is designed to provide a fair and borderless center of DeFi products that any TRON user can access.
How does JUST (JST) work?
Just is a platform that encourages users to maintain a network. JST rewards users who help verify network transactions and provide liquidity on the JUST network. JST owners also participate in network management.
The more people who use the USDJ and the JUST Just network, the more valuable the Just token becomes. As mentioned in the previous sections of the article, the USDJ acts as a stable coin on the Just platform, where users can receive a stablecoin on the Just platform by depositing a mortgage account. In fact, individuals can receive USDJ by creating an account on the Just JUST platform and using smart contracts.
The features of JUST (JST)
There is another notable catch about Just Digital Currency. Tron Network claims to be the largest ecosystem of decentralized applications in the world, providing fully transparent financial services to all users. JUST has also been created on the Tron network and intends to implement these goals. As a result, Digital Just, like other tokens created on the blockchain, is a TRC-20 token.
JST management token, JST, was introduced on May 5, 2020, with the Poloniex LaunchBase token sales mechanism. According to the official website of Poloniex, the main features of Just are:
Just is a decentralized StableCoin project created on Tron Network. It aims to create a completely open and fair financial platform for people all over the world.
Users can obtain the USDJ stable coin by depositing a specific account secured by Tron. The project is managed by all members of the Just community, and each person’s mastery will depend on the number of JST tokens he or she maintains. The requests and decisions of this project are shared with all members and after voting, they are made according to the opinion of the shareholders (people who have JST).
This platform is fast and practical, and transactions or transfers will be done for a very small fee. Anyone can create a free account on the Just platform and easily earn USDJ using JUST smart contracts. Everyone who maintains JST will be involved in managing the USDJ network and system. Members of the Just Society community will have access to the Tron application ecosystem and the many applications that exist in the Tron network.
Who are the founders of JUST?
The JUST ecosystem is managed by the JUST Foundation, which includes people from Alibaba, Tencent, IBM, and “other global Internet companies”, while the JUST financial analysis team is from “several global investment banks” based on the project website.
Some of the most prominent are Trans F (blockchain expert and former employee of Barclays and IBM), Elvis Zhang (a senior developer and experienced Blockchain researcher), Si Woo (wallet and exchange specialist), and GL Kong (an Experienced Blockchain Engineer and early crypto adopter).
The full names and details of most members of the JUST team are not public. However, the project appears to be overlapping with the TRON development team, as the platform was announced by TRON CEO and founder Justin Sun and received technical and financial support from TRON.
What makes JUST unique?
Unlike most other DeFi platforms, JUST is not just looking for a single product to help a small subset of DeFi users. Instead, it seeks to build a complete set of products that cover a wide range of DeFi applications and form the basis of a complete DeFi ecosystem in TRON. As of January 2021, the JUST ecosystem consists of five distinct products, all of which are designed to collaborate and provide additional tools to users.
JUST decentralized multi-collateral stable index platform JUST. JustLend: A TRON-based money market protocol that allows users to add liquidity to lending pools and receive low-interest digital currency loans.
An automated market maker (AMM) platform is used to exchange untrusted TRC-20 tokens and create unlicensed cash pools.
The first decentralized Oracle system for the TRON network – used to secure smart contracts with real-world data.
Assets of other blockchains, including Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), are tokens in TRON and can be used in the JUST ecosystem.
Advantages and disadvantages of JUST (JST)
Now that you know what a JUST coin is, you are probably wondering if it is worth the investment. Let’s take a closer look at the advantages and disadvantages of JUST coin.
- Smart contracts protect your assets and guarantee that you can exchange tokens/coins and enjoy the benefits of price increases.
- You can earn money by paying and maintaining the JUST platform produced by USDJ.
- There are hundreds of decentralized applications within the network.
- Built on the successful TRON network, JUST now has an active network of owners and builders.
Some crypto viewers have been met with disapproval because they believe that its founder, Justin Sun, should focus on one platform instead of many. You cannot win JST with JST betting (although you can bet TRX with USDJ). TRX owners and TRON users get the most out of JUST. A two-coin system can be confusing is another drawback of JUST (JST). Some see the JUST coin as a copy or copy of the MakerDAO system, in which DAI can be used as collateral to multiply a token.
In general, the JUST ecosystem pursues interesting goals; it remains to be seen whether the team behind this project can achieve its goal in the future. Having people like Justin Sun and the big companies behind the project can have great potential for growing the value of Just Token. In general, there is no global consensus on future positive or negative changes in the price of digital currency. In fact, the potential growth of this token depends on several factors: team announcements, new technologies of Just projects, the cryptocurrency market in general, the legal status, and so on. Remember that it is important to do your research before investing in any digital currency.