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DeFi has been conquering the cryptocurrency industry for the past two years, spreading to pretty much every blockchain that can support smart contracts. Originally, it emerged on Ethereum years ago, only to finally go big in mid-2020. Its potential finally started attracting people during the early months of the COVID-19 pandemic, as they were left locked in their homes and seeking ways to make their cryptos earn more money.
Once it exploded, it attracted users, and other projects rushed to make their blockchains DeFi-friendly in hopes of experiencing greater usage. Some projects even launched secondary chains specifically for DeFi. However, when it comes to TRON, it was already in a perfect position to have DeFi protocols launch on its network, and many did. One of them, Just (JST), emerged in order to try and deliver all-in-one financial solutions for TRON users.
What Problems Does Just (JST) Solve?
The primary issue that Just aims to solve is the fact that users need to switch from project to project in order to access different DeFi functionalities. It aims to remove this need by providing its own solution, which is:
Bringing all TRON DeFi users to one platform
Just has recognized that TRON’s DeFi sector is diverse, but the problem is that each project only offers one kind of service, and there is a lack of those that combine different kinds of DeFi features and benefits. So, it decided to be the one to do it, and so it developed a rich ecosystem with a variety of DeFi products, including the following.
Multi-collateral stablecoin platform
The first of its solutions is the Just ecosystem’s flagship product called JustStable. This is a decentralized lending platform featuring stablecoins. It was launched in August 2020, and it uses a two-token system, including Just’s native JST, as well as the stablecoin USDJ. To obtain USDJ loan on Just, traders are required to deposit collateral in the form of supported collateral tokens, including TRON (TRX). These tokens are then exchanged to PTRX tokens, and locked as collateral, forming a CDP (Collateralized Debt Position). Finally, depending on how much was deposited, users then get to 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 lending pools by adding liquidity to them. In return, they can also take out low-interest crypto loans, which is a quick and easy solution for a more regular crypto-lending service.
AMM platform for TRON token swaps
Next, there is JustSwap, which is an AMM platform that enables trustless swaps within the TRON ecosystem, and it work with all TRC-20 tokens. It also allows for the creation of permissionless liquidity pools, so it is a multi-purpose product.
TRON’s first decentralized oracle system
Of course, in order for smart contracts to truly be decentralized and to be able to operate adequately, real-world information needs to be available to them. Most platforms have solved this by using Chainlink’s oracle system to deliver the necessary data to them. Just, on the other hand, developed JustLink, which is its own oracle system that does the same thing.
Lastly, the project also allows users to tokenize assets from other blockchains and mint their wrapped versions on TRON’s blockchain. This can include Bitcoin, Ethereum, and Litecoin for the time being, which have already been tokenized and brought to TRON’s network.
Benefits of Just (JST)
With so many services at its disposal, it isn’t difficult to understand that Just is delivering quite a few benefits, such as reliable data, loans, and swaps. However, there are two more that should be taken into an account:
JST is the platform’s exclusive token for dApp governance, as well as the governance of the entire Just ecosystem. That means that those who hold it can help with making decisions regarding the project and its future through the voting process, or they can submit their own proposals and have the rest of the community review them and make a decision about whether the proposals should be implemented or not.
JST is also used as an incentive token, and it can be earned through processes like mining, participating in campaigns, or simply through trading and/or direct purchase on crypto exchanges.
How Does Just (JST) Work?
Just is a popular decentralized finance ecosystem operating on the TRON network. It was created to deliver a number of solutions that would encompass numerous DeFi functionalities and make them all available in the same location, rather than making users switch from one project to another in order to engage in different activities.
Its main product is a decentralized stablecoin lending platform called JustStable, and it features a 2-token system, where JST is used for a variety of functions, including paying interest, helping maintain the platform, participating in governance, and alike, while the stablecoin USDJ is granted to borrowers who can provide a number of different tokens as collateral.
Among other solutions, the project offers a money market protocol that lets users add liquidity to a lending pool called JustLend, an AMM called JustSwap, and an oracle protocol called JustLink. Plus, the platform also allows for tokenization of other cryptocurrencies in order 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)
Currently, Just (JST) is available for purchase on the following exchanges.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. USA Residents are Prohibited.
Binance – Accepts Australia, Singapore, and most of the world. Canadian & USA residents are prohibited. Use Discount Code: EE59L0QP for 10% cashback on all trading fees.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.
Just (JST) — The bringer of the next generation of DeFi on TRON
Just is a project that could easily go big thanks to its advanced and all-inclusive service that offers products for an entire range of DeFi functionalities and activities. Anyone who wishes to access more than one would find most, if not all that they need on Just, which is extremely convenient and beneficial for users. It saves time, money, and it allows users to keep their money within a single ecosystem.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.
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