It is not strange when a new crypto project is launched, because that happens quite often. What you also often see is that these projects run on the Ethereum blockchain, and are therefore also ERC-20 tokens. What we see less often is that there are new projects running on the Tron network. However, this can bring several benefits to the project. One of the projects that does that is JUST. In this article, we will take a closer look at what JUST is and what services it provides to the crypto world. Of course we will also tell you if we think this is a smart investment, and where you could possibly buy the JST tokens.
What is JUST (JST)?
JUST (JST) is a project built on the TRON network, with the aim of providing a decentralized and fair financial system, stable governance and lending mechanism to users around the world.
The JUST platform comes in two types of tokens. The first is USDJ, a stablecoin indexed 1:1 to USD and created by depositing TRX coins through the JUST CDP port. The second token is JST: it is used to pay interest, maintain the platform, participate in governance through voting, and other activities on the JUST platform.
Users can create stable USDJ coins by depositing TRX coins. The project is managed by all members of the JUST community depending on how many TRX coins they have. All stakeholders vote and decide on project proposals using the tokens they have. The administration is thus completely decentralized.
It should be noted that this is not the first time Justin Sun, the founder of JUST, has come across Tron. Earlier (in 2019), Tron partnered with Tether to launch the USDT stablecoin indexed on the Tron blockchain as a TRC20 token. Since then, the number of people using TRC20-USDT has exploded and TRC20-USDT tokens now make up more than 10% of the circulating USDT supply.
In March of this year, Justin Sun also unveiled “Djed” – a stablecoin project funded by the US dollar. The platform is live under tronscan.org which would have an interface similar to that of Maker-based websites.
Overall, Tron aims to mark its status as one of the most prevalent blockchain platforms currently in use. However, we will have to wait and see if this will actually happen.
The JUST platform has a dynamic and highly experienced team. 50% of the engineering staff are from Alibaba, Tencent, IBM and other major international Internet companies, with rich experience in product design and development.
JUST’s financial analysis team comes from multiple investment banks around the world and its operations team has a lot of experience in blockchain operations. In the same time frame, JUST also fully supports the TRON ecosystem.
What is the JST token?
JST is a JUST platform token with the main purpose of paying loans and built on the TRC-20 platform. JST was launched for IEO on Launchbase Poloniex in early 2020, but most users were unable to purchase tokens back then. The price has subsequently increased significantly after the IEO.
These are the functions of the JST token:
- Payment of interest by users.
- Participate in the management of the platform by being able to vote on certain plans with the JST token.
- Joining the TRON ecosystem, such as using dApps.
How do I buy JST?
You can buy JST on various crypto exchanges. We recommend that you do this at Binance or Gate.io , given the high liquidity of these platforms. You are then sure that you can buy or sell JST at all times. That’s something you can’t be sure of with small exchanges.
Of course, it is also possible to buy JST from decentralized exchanges (DEXs) such as Uniswap , Sushiswap , and Pancakeswap . However, keep in mind that it is a lot more difficult to buy JST from these platforms. It is much simpler to purchase it via, for example, Binance or Bitvavo. You will then have your tokens in your possession within a few clicks.
After reading this article, you will also know that JUST has issued several other tokens.
How can I save JST?
The JST coins can be stored in the TronLink wallet which is also provided directly by the project itself. You can also store your crypto coins in other wallets, such as the Ledger wallet.
If you have a lot of JST in your possession, it is wise to store it in a hardware wallet . A cold wallet is much safer than a wallet that is continuously connected to the internet, such as a MetaMask wallet or the wallet of a crypto exchange.
Before you buy a wallet, it is wise to check whether JST is supported. It is possible that you have a wallet that does not yet support JST tokens. In that case, you cannot store the tokens on the wallet you use. Therefore, always check this in advance, so that you are not faced with surprises.
The course of JST
In the past, the price of the JST token has already gone up and down considerably. In the past, good returns could be achieved with this project. However, this does not guarantee success in the future. The price can also fall further than the value is currently standing. And of course you want to buy JST tokens at the best price. That is why we recommend that you keep an eye on the price of JST tokens.
What is the USDJ stablecoin?
USDJ is a fairly new currency created by decentralized smart contracts on the TRON network. Anyone can pledge a TRX coin as collateral to create USDJ. The creation of USDJ is completely free as long as TRX is used as collateral. The USDJ agrees to be anchored in US dollars with a USDJ:USD ratio of 1:1 through mortgage debt (CDP).
The USDJ will be an integral part of the TRON DeFi ecosystem, and it will be backed by huge asset reserves to maintain price stability. Other important features of USDJ are that it is easy and limitless to use, as well as being provided by smart contracts. It is possible for anyone to open a free account and set up USDJ here, and then use it anywhere in the world.
JUST . products
Sun says the JUST DeFi team will launch 3 new Tron-based Defi products that will run on JST. Users therefore have plenty of options to make use of this platform, as well as to use their tokens. The JUST token is fully accepted in the applications developed by JUST.
The first is JustLend, similar to a few protocols like Compound , in which users can pool funds to generate collateral for themselves based on token holdings. Basically it is a DeFi marketplace where JST users earn interest or borrow assets against collateral.
We see more and more that crypto traders earn money by lending crypto coins. This is partly because the interest rates are often quite high, while the risk is low at the same time. The people who borrow money also have to pay collateral. So you can assume that you have not lost your loaned money.
JustBTC is described as a TRC20 token that is 1:1 backed by Bitcoin . This product is very similar to WBTC (Wrapped Bitcoin), imBTC (TokenIon), and tBTC ( Keep Network ). Thus, multiple tokens will eventually be released by JUST as it is also possible to use USDJ, which is the stablecoin for this project.
Sun, who is known among prominent crypto figures, has been criticized by many for copying the ideas of others. Likewise, with the launch of the Defi platform, the crypto community assumes that these ideas are similar to the ETH -based DeFi lending platform, MakerDAO.
JustSwap is a decentralized financial system. It uses the stable USDJ coin, and anyone from anywhere in the world can access it. JustSwap is an exchange protocol that guarantees the decentralization and security of its conversion and exchange. All changes are based on the system price and each method of exchange is performed between TRC20 tokens.
The liquidity providers of the exchange methods or protocols bear all trading costs. JustSwap uses a decentralized wallet to connect, meaning you don’t have to worry about opening an account or verifying. You simply connect your wallet via Tronlink, which is a decentralized wallet that JustSwap currently supports. In fact, you will be automatically connected to the current Tronlink account you have. If you need to change your account, all you need to do is go to where the wallet is managed and change your current account (there’s a place for this on the TronLink app).
JustSwap works in a way that everything is decentralized. There is no authority involved; there is no involvement of centralized facilities or institutions in all transactions. Smart contracts handle all transactions, and there is no need to bid or match orders.
Each pool of transactions supports token exchanges. Adding liquidity also helps applications that run on the blockchain. However, this maintains the function of the smart contract to ensure that all transactions are safe, secure and fast. The tokens supported for Swap on the JustSwap platform are tokens between two TRC2O passes. Coins between TRX and TRC20 coins are also accepted.
The TronPulse energy tracker has various applications and tokens. Here you can take measurements, make a transaction, view the bandwidth of a pass, view energy levels, burn TRX and discontinue TRX. You can calculate the energy by burning TRX, and then trade the tokens in JustSwap.
Make sure to calculate the corresponding amount of the other token to be exchanged. The statistics will indicate the maximum sold, the effect on the price, the compensation of the liquidity provider, the price and the slippage. You will need confirmation from your wallet and you will also need to agree to the signing of the application. Once your transaction has been submitted and successful, you can see it on Tronscan.
You can also connect your wallet from the JustSwap navigation bar. This can be done by selecting the Tronlink wallet and following the directions that appear on the website or app. On the JustSwap website and app, you can view 24-hour trends for a trading pair. Here you can see the latest price, the lowest price and the highest price.
JUST is a decentralized financial platform that offers various services in the DeFi world. That in itself is not surprising, because there are a lot of platforms that do that. What is different from these platforms is that JUST uses the Tron network. Normally, most platforms use the Ethereum blockchain, given the benefits that using this network offers.
JustSwap, JustBTC, JustLend and USDJ are some of the products that JUST has launched, and it won’t stop there. The JUST team is continuously developing new products in the financial world. This makes it seem that JST can be a smart investment, although there is also a disadvantage to this platform.
Many people feel that JUST is copying other products and projects into their own network. And that’s true; the products they offer were previously available on other platforms. So they didn’t come up with new products that didn’t exist before.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com