Over the past two years, decentralized finance (DeFi) has rapidly emerged in the cryptocurrency industry, expanding to almost all blockchains that support smart contracts. The concept of DeFi first appeared on Ethereum and didn’t really start to grow until mid-2020. The potential of DeFi received a lot of attention during the early days of the COVID-19 pandemic when many people were forced to stay at home, leading them to seek ways to add value to their cryptocurrencies.
With the explosion of DeFi, more and more users are attracted to this field, and many projects are also making their blockchains DeFi friendly in order to gain more use. Some projects have even launched secondary chains specifically to target DeFi. However, TRON has become an ideal platform to launch DeFi protocols due to its superior network architecture, one of which is Just (JST), which aims to provide TRON users with integrated financial solutions.
What problems can Just (JST) solve?
Just’s core goal is to solve the problem of users needing to switch between different projects to access various DeFi features. It is designed to eliminate this need by offering diverse solutions. Specifically, Just aims to:
Bringing all TRON DeFi users to one platform: Although TRON’s DeFi ecosystem is quite diverse, many projects only provide a single service and lack comprehensiveness. Just emerged to solve this problem and develop a rich ecosystem of multiple DeFi products.
Main products
Multi-Collateral Stablecoin Platform: Just’s first solution is its flagship product JustStable. It is a decentralized lending platform featuring stablecoins that was launched in October 2020. The platform uses a dual-currency system, including Just’s native token JST and the stablecoin USDJ. Users can obtain USDJ loans by depositing supported collateral tokens such as TRON (TRX), which are converted into PTRX tokens and locked, forming Collateralized Debt Positions (CDPs).
Liquidity Solutions: Another important solution is JustLend, a money market protocol powered by TRON. This is a convenient cryptocurrency lending service where users can support the lending pool by adding liquidity to the pool and in the process receive low-interest crypto loans.
AMM platform for TRON token swap
JustSwap is an AMM platform that enables trustless token swapping within the TRON ecosystem and supports all TRC-20 tokens. Users can also create permissionless liquidity pools, making it a versatile product.
TRON’s first decentralized oracle system: In order for smart contracts to fully operate, real-world information must be provided. Just developed JustLink, its own oracle system that provides the necessary data.
Coin Tokenization: Additionally, Just allows users to tokenize assets from other blockchains and mint their wrapped versions on TRON’s blockchain, temporarily supporting Bitcoin, Ethereum, and Litecoin.
Benefits of Just (JST)
With so many services, Just offers significant benefits, including reliable data, loans and swaps. However, there are two key points to consider:
Governance: JST is the platform’s proprietary token and is used for the governance of dApps and the entire Just ecosystem. This means that holders can participate in future decisions of the project through a voting process, or submit their own proposals for community members to review and decide whether to implement them.
Commission: JST is also used as an incentive token that users can earn by mining, participating in events, or trading and/or purchasing directly on cryptocurrency exchanges.
How does Just (JST) work?
Just is a decentralized finance ecosystem running on the TRON network that aims to provide a range of solutions that encompass numerous DeFi features and make them available in one place. Its main product, JustStable, is a decentralized stablecoin lending platform that uses a dual-token system, in which JST is used for multiple functions, including paying interest, maintaining the platform, and participating in governance, while the stablecoin USDJ allows borrowers to different tokens as collateral.
In addition to JustStable, the project also offers JustLend’s money market protocol, JustSwap’s AMM platform, and JustLink’s oracle protocol. Additionally, the platform allows for the tokenization of other cryptocurrencies, bringing their wrapped versions to the TRON blockchain and working with DeFi, currently supporting Bitcoin, Ethereum, and Litecoin.
Just (JST)—Tron’s next-generation DeFi leader
Just is a project with potential due to its advanced and comprehensive services offering products for the entire DeFi functionality and activities. Any user looking to access a variety of content can find most, if not all, of what they need on Just, which is both convenient and beneficial for the user. Not only does it save time and money, it also allows users to keep their funds within a single ecosystem, opening up new possibilities for the development of DeFi.