Decentralized finance (DeFi) is showing record growth, with new projects popping up every month. Seeking to achieve power for the general population, DeFi is attracting a constant stream of attention and is being used as the basis for building projects by developers and development teams alike.
The JUST network, an offshoot of the TRON network, is a robust package of specialized financial products based on smart contracts that run on the TRON blockchain. Along with other projects, she aims to develop a thriving TRON ecosystem. In this article, we'll take a detailed look at the JUST Network, including its features, perspectives, and more.
What is JUST?
Founded by Justin Sun platform JUST was 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 range of decentralized finance solutions, namely JustStable, JustLend, JustSwap, JustLink and cross-chain tokens. The system is based on the TRON network. It operates through a decentralized stablecoin system consisting of USDJ and its control token JST.
USDJ, a stablecoin that is paired with the US dollar and accepts multiple collateral, powers the main decentralized finance product of the network, JustStable. JustStable is a limitless stablecoin lending center where users can borrow stablecoins. With the growth in yields and the emergence of trading opportunities in the crypto space, investors and traders are increasingly looking for an opportunity to get stablecoins without selling their crypto assets. JustStable offers users access to the liquidity they need.
For example, if John needs some stablecoins to generate returns on the exchange, he must deposit any of the supported tokens as collateral. In this case, he deposits TRON's native currency, TRX. The smart contract converts John's deposit into TRX and gives him USDJ. When John needs TRX tokens, he returns USDJ and gets his TRX back.
Just Land is a money market platform based on the TRON smart contract where users can add liquidity to liquidity pools to obtain loans at low interest rates.
Cross-chain tokens are assets of other blockchains that can be used on the JUST network after they are tokenized on TRON. JustSwap is another smart contract system used to exchange trustless tokens and create available liquidity pools.
What is JST?
First put into circulation around May 2020, JST facilitates the decentralized JUST system and is used to pay fees. JST is a TRC20 token that allows holders to support the JUST platform and decide on important aspects or changes to the platform, such as the stability fee, which is the interest rates paid by borrowers, and the collateral ratio, which refers to the minimum amount that can be deposited. as collateral (in relation to the loan amount). The JST token can also be used for useful purposes such as paying fees and accruing interest.
How JUST works
Since JUST is an offshoot of TRON, it relies heavily on the network to maintain its functions and security level.
Since JST is a TRON-20 token, the JUST platform uses Delegated Proof of Consensus (DPoS) to secure and maintain the blockchain. This is a system in which the nodes that validate blocks of data to be added to the blockchain are selected based on the size of their stake, rather than their ability to solve hash puzzles. This system is considered to be more resilient than proof-of-work blockchain as it consumes much less energy.
Key Features
Two token system
The JUST ecosystem is driven by the two tokens it mines, JST and USDJ, with JST serving as the governance token and USDJ as the main product of the platform.
Lots of products
JUST offers a variety of products and services such as JustStable and JustLend, giving users - investors, traders, DApp developers and others - plenty of options to choose from.
JST Tokenomics
Note: The numbers below are accurate at the time of writing and are accurate to two decimal places.
Maximum supply - 9,9 billion JST tokens
The total supply is 9,9 billion.
Circulating supply - 7,3 billion (74% of the total supply)
Market capitalization – $328 million
Trading volume for 24 hours - $142 million.
JST Price - $0,04
Is JUST a good investment?
From the very beginning, JUST has enjoyed great reputation. Some attribute her spotlight to the success of Justin Sun's previous project, TRON. Will Sun be able to apply his Midas talent to this network? Only time will tell, but so far everything looks promising.
On the other hand, the JUST hype has the potential to bias investors and cause them to soften their valuation of the platform. As potential investors, we must remember that JUST is ultimately a TRON-based autonomous smart contract protocol development platform, and make objective judgments based on factual data, not media hype.
pros
- Number of DApps
There are a large number of DApps running on the JUST network. This is beneficial as more DApps are required across platforms. Having DApps for various business niches and services will definitely add value to the network.
- Support from TRON
Through its affiliation with TRON, JUST is able to use the assets and security of TRON. Thus, a significant number of developers and holders are attracted to use the platform.
- Smart contracts
The beauty of DeFi platforms lies in smart contracts that make it easy to perform complex and cumbersome activities. With JUST, users can receive stablecoins within hours through the offline system, and accounts can be opened quickly and free of charge.
Cons
- Lack of specialization
JUST has not found its place among some cryptocurrency viewers who believe that the network team should focus on TRON rather than both TRON and JUST at the same time. To paraphrase an old saying, they believe that “jack of all trades is a master of no cryptocurrency.” These viewers believe that the project will suffer from a lack of specialization, because in the end JUST is not the main project - TRON is.- Stacking
JUST does not allow holders to earn more tokens by staking their JST tokens. For now, it only allows TRON holders to stake their coins to earn USD. This means that users must hold both JST and TRON in order to maximize the profitability of the platform.- Using tokens
The JST/USDJ currency system has the potential to confuse newbies who are unfamiliar with the use of both tokens - i.e. which one is used for betting and which one is used for management?(Note: This article is not meant to be financial advice. Please do your own research before making any decisions and only invest what you can afford to lose).
Final thoughts
With its range of products and mission to make DeFi more accessible to the public, JUST is likely to see more adoption as it strives to make DeFi limitless and free for everyone. The future of JUST remains bright as long as its parent network, TRON, maintains good performance. As for investors, they can take the opportunity not only to observe, but also to take a direct part in the development of the network.