JUST: A Decentralized Stablecoin Platform on TRON
By Selene Wang | Crescent City Capital Market Analyst Intern
1. Introduction to JUST
JUST is a decentralized stablecoin platform operating on the TRON Blockchain. JUST is committed to developing TRON-based DeFi protocols and aims to provide all-in-one financial solutions to its users. It is an entire suite of products that are mostly centered around a decentralized stablecoin lending platform known as JustStable.
2. JUST products
JUST is a dynamic DeFi platform that provides a range of decentralized financial solutions, namely: JustStable, JustLend, and cross-chain tokens. The system is built on the TRON network. It operates via a decentralized stablecoin system comprising USDJ and its governance token, JST.
- JustStable: A decentralized finance system of USDJ stablecoin for everyone, anywhere, anytime.
- JustLend DAO: First official lending platform on TRON. A TRON-powered money market protocol that allows users to add liquidity to lending pools and take out low-interest cryptocurrency loans.
- Cross-chain tokens: Assets from other blockchains, including Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), that have been tokenized on TRON and can be used within the JUST ecosystem. Just Cryptos builds a bridge that connects premium crypto currencies from the TRON network and other public chains, and introduces token value to TRON to power the JUST ecosystem. All assets are stored, and can be swapped on Poloniex.
3. Tokenomics
- Two-Token System
The JUST ecosystem is run by the two tokens it mints — JST and USDJ — with JST serving as a governance token and the USDJ serving as the main product of the platform (granted to borrowers who can provide a number of different tokens as collateral).
- JST Token
First introduced into circulation around May 2020, JST facilitates JUST’s decentralized system and is used for paying fees.
JST is the exclusive token for DApp governance and various protocols in the JUST ecosystem. Token holders can jointly govern JUST through decentralized voting.
It can be earned through mining, trading, and participating in campaigns. People can mine JST by depositing, lending, providing liquidity or performing other financial actions.
4. Market Analysis
Price & Market Cap Performance
- Live price: $0.028
- Market Cap: $275,605,290
- Circulating supply: 9,900,000,000 JST
Key Historical Trends
- 2020 Launch and Initial Growth: JST was launched in May 2020. The launch’s success was significantly bolstered by its association with the TRON blockchain.
- Peak in 2021: In April 2021, JST reached its all-time high of $0.1963. This surge was driven by the overall bullish cryptocurrency market and increased activity within the JUST ecosystem.
- Decline in 2022: In 2022, JST’s price declined significantly, reaching lows around $0.019877. Investor confidence reduced which might be due to rare updates.
- Stabilization and Recent Trends: From July 2022 to 2024, JST showed signs of stabilization. As of now, JST is trading around $0.029, indicating a relatively stable phase compared to its previous highs and lows.
5. Conclusion
An offshoot of the TRON Network, the JUST Network is a robust package of specialized smart contract-based financial products that run on TRON’s blockchain. Alongside other projects, it seeks to grow on the thriving TRON ecosystem.
JST’s development and application are still in the early stages. Given the intense market competition and its deep connection with the TRON platform, its growth prospects remain somewhat uncertain.
Reference
https://coinmarketcap.com/currencies/just
https://academy.trubit.com/new-english-trubit-academy/crypto-introduction/just-jst
https://learn.bybit.com/defi/what-is-just-jst