JUST is a decentralized digital blockchain project built atop the TRON blockchain. It provides a suite of decentralized digital products and has managed to garner an extensive amount of attention in recent months.
JST is the native utility token of the protocol. It’s currently the 117th largest cryptocurrency by market cap.
What Is The JUST Network?
The TRON Network has just developed another network forming part of their complete DeFi ecosystem, JUST Network, and this network forms part of the underlying TRON blockchain. JUST has positioned itself as the next generation for DeFi with its sophisticated package of smart contracts, which will all run on the TRON blockchain. Their two-token system is said to have the right components for becoming a significant player in the crypto world.
There are various subsections under the JUST Network that cover a wide range of services in the DeFi space, and it is considered the next-generation DeFi ecosystem. Throughout this article, you’ll have all your questions answered and be given a deep insight into what makes JUST (JST) so special and why it’s something worth watching.
Even though JUST was built on the TRON Network, forming part of TRON, they are solidifying themselves with their decentralized stablecoin and token – USDJ and JST token.
They have services like JustStable, JustLend, Just Crypto, JustSwap, JustLink, and cross-chain tokens.
USDJ is the stablecoin paired with US dollar value, giving it a ratio of 1:1. With this coin, you have access to multiple collaterals; it also powers one of their decentralized financial products on the network, JustStable. JustStable is a decentralized stablecoin lending platform.
Yield farming is introducing different trading opportunities for investors and traders alike. Getting stablecoins without having to sell your crypto is becoming more popular amongst these traders and investors.
Let’s look at an example to explain a real-life situation; let’s say Gary is looking for some stablecoins to take part in yield farming on any exchange. To partake, he has to deposit any of the tokens allowed as collateral, and he makes deposit collateral in JustStable as the native TRON currency TRX.
The smart contracts on the platform will take that TRX and convert it into USDJ, which he will receive. When he no longer needs it, he returns the USDJ and will get his TRX back.
The remarkable aspect of the JUST ecosystem is that they offer you the ability to use cross-chain tokens. What this means is you can use assets from other blockchains, like Ethereum (ETH), Bitcoin (BTC), and Litecoin (LTC), within the ecosystem. Remember, it has to be an asset tokenized on the TRON blockchain.
What Is JUST Used For?
What makes JUST different is them not wanting to offer just one product like so many other DeFi platforms. While there is nothing wrong with delivering only one product, they believe the more, the merrier.
The many products offered form the complete foundation of their entire ecosystem, covering a wide range of options.
As of January 2022, there are five different products. We’ve already gone over the JustStable and cross-chain tokens above, so let’s look at the remaining three and what utilities they provide for the users.
- JustSwap: If you want to use a TRC-20 token swap automated market maker platform to create liquidity pools, you’ve come to the right place.
- JustLink: It was created to supply smart contracts securely with real-world data.
- JustLend: The ability to take out low-interest crypto loans from a lending pool through which users add liquidity to make it possible.
The JST coin is the token users use to maintain the entire JUST Network. This entails verifying several transactions and providing the liquidity the network needs. JUST will reward these users with JST coins for their assistance.
There are other reasons for the JST coin, like governing essential decisions on the network, which are done by the individuals holding these coins. It will include the interest rate the borrowers have to pay, the stability fees, and the collateralization amount. The minimum amount must be paid as collateral for users to borrow USDJ.
The more people using USDJ and JST on the Just Network, the stronger the JST coin will become this will increase the coin’s market cap, thus increasing the JST price. The JUST price prediction will also be determined through the strength of JST. The USDJ will stay the same because it’s paired with the U.S. Dollar and thus will follow the strength of the Dollar.
Where To Buy JST?
You can purchase, trade, or store JST on any of the crypto exchanges listed below:
- ZG.com (note: Google translate English)
- Huobi Global
If you decide to keep your tokens on an exchange, you must remember that your private keys are no longer valid, meaning that if the exchange gets hacked, you’ll lose your coins.
Your best option is to keep them in a reliable digital wallet that will support JST tokens like Coinbase Wallet.
About JUST (JST)
How long has JUST (JST) existed?
Justin Sun, the founder of TRON, is also the founder of the JUST platform. It was launched in 2020, and he chose the name deriving it from the first four letters of his name.
JUST foundation manages the ecosystem and includes big-name individuals from various well-known companies like Alibaba, Tencent, IBM, and other world-class internet companies. The financial team at JUST comprises people from some major global investment banks.
What’s controversial about STEPN (GMT)?
Blockchain and crypto are mostly unregulated. A decentralized monetary system is needed, but without laws, frauds are prevalent.
Before investing, be cautious and do your research.
Let’s take a look at the top controversy surrounding JUST (JST):
- Slow adoption – The protocol has some genuinely appealing and sought-after digital products but simply hasn’t managed to attract rapid adoption. The JUST ecosystem has grown formidably in recent months but in comparison to existing protocols, it’s relatively tiny.
How many JUST (JST) Tokens are there?
At the time of writing, JUST (JST) has a circulating supply of 8.90B JST.
The total supply of JUST (JST) is 9,900,000,000.
The max supply of JUST (JST) is 9,900,000,000.
Can JUST (JST) be mined?
Mining JST tokens is not possible. Users can earn rewards on their JST tokens though by participating in various DeFi products such as staking, yield farming, and liquidity provision.
What is the market cap of JUST (JST)?
The market cap of JUST (JST) is: the total amount of coins in circulation x the current market price of JST.
JUST (JST) Market Cap = 8.90B JST GMT x $0.031 = $283 million (117th largest market cap).
JST is currently one of the top 150 cryptocurrencies by market capitalization.
The Biggest Competitors of JUST?
The TRON ecosystem has grown exponentially in recent months and many individuals are excited about the future of the protocol. When compared to other ecosystems like Ethereum, the TRON ecosystem is relatively small but there has been a significant amount of development recently.
JUST’s biggest competitors are:
What Are The Future Plans For JUST?
JUST protocol aims to create a flourishing ecosystem that can rival competing protocols that have already managed to build up credibility, garner adoption, and retail investment.
Pros And Cons Of JUST (JST)
Ecosystem is growing rapidly – There are already several DApps running on the JUST network; why is this beneficial? Well, the more DApps become available for businesses to conduct services, the greater the value of the network. The aim of most blockchain projects is to provide users with as much as much value as possible, and projects like JUST plan to grow their ecosystems to deliver these value proponents.
Leverages the security of TRON blockchain – JUST operates on the TRON blockchain and therefore uses TRON’s robust security and assets. For a TRON user, this two-token ecosystem built on its platform has the ability to make the entire suite more accessible to everyone around the globe. The JUST protocol leverages the TRON blockchain to achieve optimized security and credibility.
Smart contract functionality – Smart contracts are why complicated tasks become effortless, and because JUST has such solid, smart contracts, one can open an account for free within seconds. Additionally, users can utilize the multi-collateral stablecoin platform effortlessly and access the full potential of the fair and borderless hub.
Slow adoption – JUST offers a unique array of DeFi products and while many individuals believe that these products are amazing, the project is struggling to garner adoption. The DeFi sector is becoming incredibly competitive and users are constantly searching for the next great protocol, JUST’s lack of specialization may put the project at a disadvantage.
Not multichain compatible yet – TRON allows users to stake their coins to earn USD, where JUST hasn’t made this option available for its users yet. The project has announced that it hopes to expand its interoperability, but currently, many individuals opt for other protocols that offer enhanced interoperability.
Not user-friendly – The entire system can become quite confusing to someone just entering the crypto space, ultimately making them move to a different system. Many individuals believe that because the JUST protocol isn’t as easy to use as existing protocols, it might not achieve the same level of adoption, and ultimately won’t succeed.