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JUST is a decentralized finance ecosystem on the TRON blockchain featuring lending, swapping, and oracle services. Developed by the JUST Foundation with TRON backing, it uses JST for governance and fees alongside the USDJ stablecoin. The network relies on TRON’s delegated-proof-of-stake security, with a maximum JST supply capped at 9.9 billion tokens.
JUST is a well-known decentralized finance (DeFi) ecosystem developed for the TRON blockchain. It comprises a range of products primarily focused on JustStable, a decentralized lending platform for stablecoins.
The system went live in August 2020 after an initial exchange offering (IEO) on Poloniex LaunchBase earlier that year, although its native governance token, JST, has been in circulation since May 2020.
This two-token model relies on USDJ and JUST (JST). USDJ is a multi-collateral stablecoin pegged to the US dollar (USD), while JST serves multiple roles within the network, such as paying interest, supporting platform maintenance, and enabling governance participation. Token holders help determine key settings, including stability fees (interest rates) and the minimum collateralization ratio.
To acquire USDJ on JUST, users must deposit supported collateral tokens, such as TRON (TRX). These are converted into PTRX tokens and locked as collateral to create a collateralized debt position (CDP). Based on the deposited amount, traders can mint and withdraw USDJ, which must eventually be repaid to unlock the original collateral.
The platform aims to offer an equitable, borderless DeFi hub accessible to any TRON user.
The JUST Foundation oversees the JUST ecosystem, drawing members from IBM, Tencent, Alibaba and "other world-class internet companies." The project website states that its financial analysis group comes from "several global investment banks."
Key figures include Terance F, a blockchain specialist formerly with IBM and Barclays; Elvis Zhang, a senior developer and seasoned blockchain researcher; C Wu, an expert in exchanges and wallets; and GL Kong, a veteran blockchain engineer and early cryptocurrency adopter.
Much of the team’s full identities and backgrounds remain private. Nevertheless, the initiative seems to share personnel with the TRON development crew, as TRON founder and CEO Justin Sun announced the platform, which has obtained both technical and financial backing from TRON.
Rather than providing a single utility for a limited group of DeFi participants, JUST aims to construct a full suite of products addressing various DeFi needs. This approach seeks to establish the groundwork for a comprehensive DeFi ecosystem on TRON.
As of January 2021, the JUST ecosystem comprises five separate products built to work together and offer extra value to users:
By January 2021, the circulating supply of JST stood at 2.26 billion, which is 23% of the 9.9 billion maximum cap. Users can acquire these tokens by depositing, lending, or providing liquidity on the JUST Network, as well as through other activities like special campaigns.
The initial IEO on Poloniex outlined this distribution for the total JST supply:
Details regarding the inflation rate and specific vesting schedules for the JUST team remain unknown. However, it is confirmed that all team tokens are scheduled to be fully vested by April 2022.
The JUST Network relies on the TRON blockchain for security, operating as a TRC-20 token. Instead of employing the power-hungry proof-of-work (POW) model common to other platforms for safeguarding blockchain integrity and preventing attacks, TRON utilizes the energy-efficient delegated-proof-of-stake (dPOS) consensus mechanism. Under this system, holders of TRON (TRX) tokens vote for super representatives who handle block generation and transaction packaging. A group of 27 super representatives collectively maintains the network's security.
You can trade the highly liquid JUST (JST) token on several major exchanges, such as Binance, Poloniex, OKEx, and Bithumb. As of January 2021, the most common trading pairs were JST/USDT, JST/KRW, and JST/BTC. Additionally, a few platforms allow you to buy JST directly with fiat currency.
Justin Sun
YANG Zi