DeFi has taken over the cryptocurrency industry over the past two years, spreading to pretty much every blockchain that can support smart contracts. It originally originated on Ethereum years ago, only to finally make it big in mid-2020. Its potential finally began to attract people in the early months of the COVID-19 pandemic, when they were locked in their homes looking for ways to make their cryptos make more money.
Once it exploded, it attracted users, and other projects rushed to make their blockchains DeFi-friendly in hopes of seeing wider usage. Some projects have even launched secondary chains specifically for DeFi. However, when it comes to TRON, it was already in a perfect position to launch DeFi protocols on its network, and many were doing so. One of them, Just (JST) emerged to try to provide all-in-one financial solutions for TRON users.
What problems does Just (JST) solve?
The main problem Just wants to solve is the fact that users have to move from project to project to access different DeFi functionalities. It aims to eliminate this need by providing its own solution that:
Bring all TRON DeFi users to one platform
Just recognized that TRON’s DeFi sector is diverse, but the problem is that each project offers only one type of service and there is a lack of ones that combine different types of DeFi features and benefits. So it decided to do it and developed a rich ecosystem with a variety of DeFi products including the following.
Multi-collateral stablecoin platform
The first of his solutions is the flagship product of the Just ecosystem called JustStable. This is a decentralized lending platform using stablecoins. Launched in August 2020, it uses a two-token system including Just’s native JST as well as the USDJ stablecoin. To receive USDJ loans on Just, traders must deposit collateral in the form of supported collateral tokens, including TRON (TRX). These tokens are then exchanged for PTRX tokens and locked as collateral, forming a CDP (Collateralized Debt Position). Finally, depending on how much has been deposited, users can mint and withdraw USDJ.
A liquidity solution
Next, the project has a TRON-powered money market protocol called JustLend. This is a protocol that allows users to support loan pools by adding liquidity to them. In return, they can also take out low-interest crypto loans, providing a quick and easy solution to more regular crypto borrowing.
AMM platform for TRON token swaps
Next there is JustSwap, an AMM platform that enables trusted swaps within the TRON ecosystem and works with all TRC-20 tokens. It also allows for the creation of eligibility pools of liquidity, making it a multipurpose product.
TRON’s first decentralized oracle system
Of course, for smart contracts to be truly decentralized and to function appropriately, they must have real-world information at their disposal. Most platforms have solved this by using Chainlink’s oracle system to provide them with the necessary data. Just, on the other hand, has developed JustLink, its own oracle system that does the same thing.
Coin tokenization
Finally, the project also allows users to tokenize assets from other blockchains and mint their wrapped versions on TRON’s blockchain. For now, this may include Bitcoin, Ethereum, and Litecoin, which have already been tokenized and brought into TRON’s network.
Benefits of Just (JST)
With so many services available, it’s not hard to understand that Just offers some benefits such as: B. reliable data, loans and swaps. However, there are two more that should be considered:
guide
JST is the platform’s exclusive token for dApp governance as well as the governance of the entire Just ecosystem. This means those holding it can help make decisions about the project and its future through the voting process, or they can submit their own suggestions and have the rest of the community review them and make a decision on whether to go ahead with the suggestions or not.
To earn
JST is also used as an incentive token and can be earned through processes such as mining, participating in campaigns, or simply by trading and/or buying it directly on crypto exchanges.
How does Just (JST) work?
Just is a popular decentralized finance ecosystem operating on the TRON network. It was created to provide a set of solutions that encompass numerous DeFi functionalities and make them all available in the same place, rather than letting users move from one project to another to engage in different activities.
Its main product is a decentralized stablecoin lending platform called JustStable and features a 2-token system using JST for a variety of functions including paying interest, helping maintain the platform, participating in governance and the like, while the USDJ stablecoin is granted to borrowers who can post a number of different tokens as collateral.
Among other things, the project offers a money market protocol that allows users to add liquidity to a loan pool called JustLend, an AMM called JustSwap, and an oracle protocol called JustLink. Besides, the platform also allows other cryptocurrencies to be tokenized to bring their wrapped versions to the TRON blockchain and use them with DeFi, with Bitcoin, Ethereum and Litecoin being the currently supported ones.
How to Buy Just (JST)
Just (JST) is currently available for purchase on the following exchanges.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. US residents are prohibited from the purchase of Just (JST). Use discount code: EE59L0QP for 10% cashback on all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer purchase options for new tokens. This exchange currently accepting international and US citizens.
Huobi Global – Founded in 2013, Huobi Global has since grown into one of the world’s largest digital asset exchanges with a cumulative trading volume of $1 trillion. It should be noted that Huobi Global currently does not accept US or Canadian residents.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It’s the best exchange for residents of India.
Just (JST) – The next-gen bringer of DeFi to TRON
Just is a project that could easily make it big thanks to its advanced and comprehensive service that offers products for a whole range of DeFi functionalities and activities. Anyone who wants access to more than one will find most if not all they need on Just, which is extremely convenient and beneficial for users. It saves time and money and allows users to keep their funds in a single ecosystem.
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