JUST Price（JST）USD

The field of Decentralized Finance (DeFi) is witnessing record growth, with new projects emerging every month. With its bid to achieve power for the general public, DeFi is attracting a steady stream of attention and is being created by developers and project development teams.

As a branch of TRON network, the JUST network is a powerful financial product package based on professional smart contracts, which runs on TRON’s blockchain. Along with other projects, it seeks to develop a prosperous TRON ecosystem. This paper introduces just network in detail, including its characteristics and prospects.

The Decentralized Finance (DeFi) landscape is witnessing record growth, with new projects springing up every month. With its bid to achieve power for the public at large, DeFi is attracting a steady stream of attention and being used as a foundation for creation by developers and project development teams alike.

An offshoot of the TRON Network, the JUST Network is a robust package of specialized smart contract-based financial products that run on TRON’s blockchain. Alongside other projects, it seeks to grow the thriving TRON ecosystem. This article looks at the JUST Network in detail, including its features, prospects, and more.

JUST Explained

The JUST platform was founded by Justin Sun and launched in the third quarter of 2020. Its name comes from the first four letters of its founder’s name. JUST is a dynamic DeFi platform that provides a series of decentralized financial solutions, namely JustStable, JustLend, JustSwap, JustLink, and cross-chain tokens. The system is based on TRON network. It operates through a decentralized stable coin system, which is composed of usdj and its governance token JST.

USDJ is a stable currency paired with the US dollar. It accepts a variety of collateral and provides power for JustStable, the network’s main decentralized financial product. JustStable is a borderless stable currency lending center from which users can borrow stable currencies. With the growth of yield cultivation and the introduction of trading opportunities in cryptocurrency, investors and traders increasingly hope to obtain stable currency without selling their cryptocurrency. JustStable gives users the opportunity to get the mobility they need.

For example, if John needs some stablecoins for yield farming on the exchange, he must deposit any supporting tokens as collateral. In this case, he deposited the original TRON currency TRX. The smart contract converts John’s deposit into TRX and gives him usdj. When John needs his TRX token, he will return usdj and take back his TRX.

JustLend is a money market platform driven by TRON smart contracts. Users can add liquidity to the liquidity pool to obtain low interest rate loans. Cross chain tokens are assets of other blockchains. After being tokenized on TRON, they can be used in just network. JustSwap is another smart contract system used to exchange untrusted tokens and create accessible liquidity pools.

JST Explained

JST was introduced into circulation for the first time around May 2020, which promoted the decentralization system of just and was used to pay fees. JST is a TRC20 token, which enables the holder to maintain the JUST platform and determine important aspects or changes of the platform, such as the stability fee, i.e. the interest rate paid by the borrower, and the mortgage rate, which refers to the minimum amount that can be deposited as collateral (relative to the amount to be borrowed). JST tokens can also be used for practical purposes such as payment and interest calculation.

 

How JUST Works

Since JUST is separated from TRON, it largely depends on the network to maintain its function and security level. Since JST is a TRON-20 token, the JUST platform uses the trust share certificate (DPoS) consensus to protect and maintain the blockchain. This is a system in which the nodes that verify the data blocks to be added to the blockchain are selected according to their bet size rather than their ability to solve the hash problem. This system is considered more sustainable than the blockchain proved by work, because it consumes much less energy.

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