JUST (JST) Things You Need To Know Before Investing
What Is JUST (JST)?
JUST (JST) is a popular new decentralized finance (DeFi) ecosystem built for the TRON blockchain. It is an entire suite of products mostly centered around a decentralized stablecoin lending platform known as JustStable.
The platform launched in August 2020 following an initial exchange offering (IEO) on the Poloniex LaunchBase platform earlier that same year, but the native governance token of the platform (JST) has been circulating since May 2020.
USDJ is a multi-collateral stablecoin whose value is pegged to the US dollar value (USD). It is a two-token ecosystem built around the USDJ and JUST (JST) tokens. In contrast, JST has a variety of functions on the platform — paying interest, helping maintain the platform and participating in its governance, and helping to set parameters like interest rates (stability fees) and the minimum collateralization ratio.
To obtain USDJ on JST, traders need to deposit collateral in the form of supported collateral tokens — including TRON (TRX), which are exchanged for PTRX tokens and locked as collateral, forming a collateralized debt position (CDP). Depending on the amount of collateral deposited, users can then mint and withdraw USDJ, which must later be repaid to retrieve the initial collateral.
The platform is designed to provide a fair and borderless hub of DeFi products that any TRON user can access.
Who Are the Founders of JUST?
The JUST ecosystem is managed by the JST Foundation, including individuals from Alibaba, Tencent, IBM, and “other world-class internet companies.” At the same time, JST’s financial analysis team hails from “several global investment banks,” according to the project website.
Some of the most prominent individuals include Terance F (a blockchain expert and ex-Barclays and IBM employee), Elvis Zhang (a senior developer and experienced blockchain researcher), C Wu (a specialist in wallets and exchanges), and GL Kong (a professional blockchain engineer and early crypto adopter).
Much of the JST team’s full names and profiles are not public. However, it appears that the project shares some overlap with the TRON development team since the platform was announced by TRON CEO and founder Justin Sun and has received technical and financial support from TRON.
What Makes JUST Unique?
Unlike most other DeFi platforms, JUST isn’t just looking to offer a single product that provides utility for a small subset of DeFi users. Instead, it’s attempting to build an entire suite of products covering a range of DeFi use cases, forming the foundations of a complete DeFi ecosystem on TRON.
As of January 2021, the JST ecosystem consists of five different products, all designed to interoperate and provide additional utility to users.
How Many JUST (JST) Coins Are There in Circulation?
As of January 2021, a total of 2.26 billion JST is in circulation, out of a maximum supply of 9.9 billion. This represents 23% of the leading suppliers.
These tokens are earned by depositing, lending, and providing liquidity on the JUST Network or by completing several other actions — such as by participating in unique campaigns.
According to the original IEO on Poloniex, the entire JST token supply is distributed as follows:
- Seed Sale: 11%
- Public Sale (LaunchBase Allocation): 4%
- Strategic Partnerships: 26%
- Team: 19%
- Airdrop (Only for TRX Holders): 10%
- Ecosystem: 30%
Further information about the allocation of JST tokens, including the specifics of the vesting period for the JUST team and its inflation rate, is currently unknown. However, it is known that all team tokens will be fully vested by April 2022.
How Is the JUST Network Secured?
As a TRC-20 token, the JUST Network is secured by the underlying TRON blockchain.
Unlike other platforms that use the energy-intensive proof-of-work (POW) consensus mechanism to maintain the integrity of the blockchain and ward off potential attacks, TRON uses the energy-efficient delegated-proof-of-stake (dPOS) system.
This sees TRON (TRX) token holders elect super representatives tasked with generating blocks and packaging transactions. Together, the 27 super representatives are responsible for keeping the network secure.
Where Can You Buy JUST (JST)?
The JUST (JST) token is highly liquid and can be traded on some of the most well-reputed exchange platforms, including Binance, Poloniex, OKEx, and Bithumb. As of January 2021, the most popular trading pairs for JST include JST/USDT, JST/KRW, and JST/BTC.
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