JUST JST
About
What Is JUST (JST)?
JUST is a popular new decentralized finance (DeFi) ecosystem built for the TRON blockchain. It is an entire suite of products that are mostly centered around a decentralized stablecoin lending platform known as JustStable.
The platform launched in August 2020 following an initial exchange offering (IEO) on the Poloniex LaunchBase platform earlier that same year, but the native governance token of the platform (JST) has been circulating since May 2020.
It is a two-token ecosystem built around the USDJ and JUST (JST) tokens. USDJ is a multi-collateral stablecoin that has its value pegged to the value of the US dollar (USD), whereas JST has a variety of functions on the platform — paying interest, helping maintain the platform and participating in its governance, helping to set parameters like interest rates (stability fees) and the minimum collateralization ratio.
To obtain USDJ on JUST, traders need to deposit collateral in the form of supported collateral tokens — including TRON (TRX), which are exchanged to PTRX tokens and locked as collateral forming a collateralized debt position (CDP). Depending on the amount of collateral deposited, users can then mint and withdraw USDJ, which must later be repaid to retrieve the initial collateral.
The platform is designed to provide a fair and borderless hub of DeFi products, that any TRON user can access.
Who Are the Founders of JUST?
The JUST ecosystem is managed by the JUST Foundation, which includes individuals from Alibaba, Tencent, IBM and "other world-class internet companies," while JUST's financial analysis team hails from "several global investment banks" according to the project website.
Some of the most prominent individuals include Terance F (a blockchain expert and ex-Barclays and IBM employee), Elvis Zhang (a senior developer and experienced blockchain researcher), C Wu (a specialist in wallets and exchanges) and GL Kong (an experienced blockchain engineer and early crypto adopter).
The full names and profiles of much of the JUST team is not public. However, it appears that the project shares some overlap with the TRON development team, since the platform was announced by TRON CEO and founder Justin Sun, and has received technical and financial support from TRON.
What Makes JUST Unique?
Unlike most other DeFi platforms, JUST isn’t just looking to offer a single product that offers utility to a small subset of DeFi users. Instead, it’s attempting to build an entire suite of products that cover a range of DeFi use cases, forming the foundations of a complete DeFi ecosystem on TRON.
As of January 2021, the JUST ecosystem consists of five distinct products, all of which are designed to interoperate and provide additional utility to users.
These are:
- JustStable: JUST’s flagship decentralized multi-collateral stablecoin platform.
- JustLend: A TRON-powered money market protocol that allows users to add liquidity to lending pools and take out low-interest cryptocurrency loans.
- JustSwap: An automated market maker (AMM) platform used for trustless TRC-20 token swaps and the creation of permissionless liquidity pools.
- JustLink: The first decentralized oracle system for the TRON network — used to securely supply smart contracts with real-world data.
- 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.
How Many JUST (JST) Coins Are There in Circulation?
As of January 2021, a total of 2.26 billion JST is in circulation, out of a maximum supply of 9.9 billion. This represents 23% of the maximum supply.
These tokens are earned by depositing, lending, and providing liquidity on the JUST Network or by completing several other actions — such as by participating in special campaigns.
According to the original IEO on Poloniex, the full JST token supply is distributed as follows:
- Seed Sale: 11%
- Public Sale (LaunchBase Allocation): 4%
- Strategic Partnerships: 26%
- Team: 19%
- Airdrop (Only for TRX Holders): 10%
- Ecosystem: 30%
Further information about the allocation of JST tokens, including the specifics of the vesting period for the JUST team and its inflation rate is currently unknown. However, it is known that all team tokens will be fully vested by April 2022.
How Is the JUST Network Secured?
As a TRC-20 token, the JUST Network is secured by the underlying TRON blockchain.
Unlike other platforms that use the energy-intensive proof-of-work (POW) consensus mechanism to maintain the integrity of the blockchain and ward off potential attacks, TRON uses the energy-efficient delegated-proof-of-stake (dPOS) system.
This sees TRON (TRX) token holders elect super representatives tasked with generating blocks and packaging transactions. Together, the 27 super representatives are responsible for keeping the network secure.
Where Can You Buy JUST (JST)?
The JUST (JST) token is highly liquid and can be traded on some of the most well-reputed exchange platforms around — including Binance, Poloniex, OKEx and Bithumb. As of January 2021, the most popular trading pairs for JST include JST/USDT, JST/KRW and JST/BTC.
A handful of cryptocurrency exchanges also support direct fiat purchases of JST. To learn more about buying cryptocurrency using your credit or debit card, check out our simple guide.
AI Analysis
What is the JUST (JST) cryptocurrency good for? What are its main use cases?
JUST (JST) is the native cryptocurrency of the TRON (TRX) blockchain, primarily used within the JUST ecosystem, which includes JUST Stablecoin (USDJ) and JUST Lend, a decentralized lending platform.
Main Use Cases of JUST (JST):
Governance & Voting
- JST holders can participate in governance decisions, such as protocol upgrades, fee adjustments, and new feature proposals within the JUST ecosystem.
Staking & Yield Farming
- Users can stake JST to earn rewards or provide liquidity in DeFi pools to earn additional yields.
Collateral for Loans (JUST Lend)
- JST can be used as collateral to borrow USDJ (a TRON-based stablecoin pegged to the US dollar) on the JUST Lend platform.
Discounts & Incentives
- JST holders may receive discounts on loan interest rates or other incentives within the JUST ecosystem.
Liquidity Provision
- JST is used in liquidity pools on decentralized exchanges (DEXs) like SunSwap, allowing users to earn trading fees.
Cross-Chain Utility
- Since TRON is a high-speed, low-cost blockchain, JST can be used for fast and cheap transactions compared to Ethereum-based DeFi platforms.
Why Use JUST (JST)?
- Low Fees & High Speed: TRON’s blockchain ensures fast and cheap transactions.
- DeFi Integration: JST is deeply integrated into TRON’s DeFi ecosystem, including lending, staking, and stablecoin usage.
- Growing Ecosystem: The JUST ecosystem continues to expand, offering more DeFi opportunities.
Potential Risks
- Competition: JST competes with other DeFi tokens like AAVE (AAVE) and Compound (COMP).
- Regulatory Uncertainty: Stablecoins and DeFi lending platforms face regulatory scrutiny.
Conclusion
JST is primarily useful for governance, staking, collateral, and DeFi activities within the TRON ecosystem. Its value is tied to the adoption of JUST Lend, USDJ, and TRON-based DeFi.
Would you like a deeper dive into any specific aspect?
What blockchain does JUST use? Is it its own blockchain or built on top of another?
JUST (formerly known as JUST Network) is built on the Tron (TRX) blockchain. It is not its own independent blockchain but rather a decentralized finance (DeFi) ecosystem that operates as a layer on top of Tron.
Key Details:
- Blockchain Base: Tron (TRX) – JUST leverages Tron's high-speed, low-cost infrastructure.
- DeFi Services: JUST provides lending, borrowing, and stablecoin (USDJ) services.
- Governance Token: JST (JUST Stable Token) is used for governance and staking within the ecosystem.
Why Tron?
Tron's fast transaction speeds and low fees make it suitable for DeFi applications like JUST, which requires efficient lending and borrowing mechanisms.
Would you like more details on how JUST integrates with Tron?
Is JUST programmable? Does it support smart contracts or decentralized applications?
Yes, JUST (the native token of the TRON-based DeFi ecosystem) is programmable and supports smart contracts and decentralized applications (dApps). Here’s how:
1. Smart Contracts on TRON
- JUST operates on the TRON blockchain, which is EVM-compatible (Ethereum Virtual Machine-compatible). This means developers can deploy smart contracts written in Solidity (the same language used for Ethereum dApps).
- TRON supports Tron Virtual Machine (TVM), which allows for the execution of smart contracts.
2. DeFi & dApps on JUST
- JUST is the backbone of JUST DeFi, a decentralized finance ecosystem on TRON.
- It supports lending, borrowing, and stablecoin (USDJ) functionalities via smart contracts.
- Developers can build dApps on TRON that interact with JUST, leveraging its DeFi protocols.
3. Programmability & Developer Tools
- TRON’s EVM compatibility allows developers to use familiar tools like Remix IDE, Hardhat, and Truffle for smart contract development.
- TRON’s low fees and high throughput make it cost-effective for dApp deployment compared to Ethereum.
4. JUST’s Role in DeFi
- JUST is used for governance, staking, and as collateral in DeFi protocols.
- The USDJ stablecoin (backed by JUST) is minted and managed via smart contracts.
Conclusion
Yes, JUST is programmable and fully supports smart contracts and dApps on the TRON blockchain. Developers can build DeFi applications, lending protocols, and other decentralized solutions using JUST and TRON’s infrastructure.
Would you like guidance on developing a dApp on TRON with JUST?
How fast are JUST transactions? What is the typical confirmation time and throughput (transactions per second)?
JUST, the native token of the JUST Network (a decentralized finance (DeFi) ecosystem built on Tron (TRX)), operates on the Tron blockchain, which is known for its high throughput and fast transaction speeds.
Transaction Speed & Confirmation Time
- Average Block Time: ~3 seconds (Tron's consensus mechanism, Delegated Proof of Stake (DPoS), allows for rapid block production).
- Typical Confirmation Time: 1–3 seconds (usually just 1–2 confirmations are needed for most transactions).
- Finality: Transactions are considered final after ~30 seconds (6 blocks).
Throughput (Transactions Per Second - TPS)
- Tron's Theoretical Max TPS: 2,000+ TPS (one of the fastest blockchains).
- Actual TPS in Practice: Typically 1,000–2,000 TPS (depending on network congestion).
- JUST DeFi Transactions: Since JUST is built on Tron, it inherits these high-speed capabilities.
Comparison to Other Blockchains
| Blockchain | Avg. TPS | Avg. Confirmation Time |
|---|---|---|
| Tron (JUST) | 1,000–2,000 | 1–3 seconds |
| Ethereum | ~15–30 | ~15 seconds (L1) |
| Solana | ~2,000–6,000 | ~400–800 ms |
| Bitcoin | ~7 | ~10 minutes |
Conclusion
JUST transactions are extremely fast, with confirmations in seconds and a high throughput of 1,000–2,000 TPS, making it one of the fastest DeFi ecosystems available.
Would you like details on gas fees or specific DeFi operations (e.g., lending, borrowing)?
How much data can I store on the JUST blockchain? Does it support on-chain data storage?
The JUST blockchain (part of the TRON ecosystem) primarily focuses on decentralized finance (DeFi) and lending, but it does support on-chain data storage to some extent. Here’s what you need to know:
1. On-Chain Data Storage on JUST
- Smart Contract Storage: JUST allows storing data within smart contracts (similar to Ethereum or TRON). This includes:
- Contract State Variables (e.g., user balances, loan records).
- Mapped Data (e.g., key-value pairs).
- Transaction Data: You can store small amounts of data in transactions (e.g., notes, metadata).
2. Storage Limits
- Gas Costs: Storing data on-chain consumes TRON’s energy (bandwidth) or TRX (if energy is depleted). Large data storage can be expensive.
- No Native File Storage: Unlike IPFS or Arweave, JUST does not natively support large file storage. You’d need to:
- Hash & Store References (e.g., store a file hash on-chain and the actual file off-chain).
- Use External Storage (e.g., IPFS + JUST smart contracts for metadata).
3. Comparison to Other Blockchains
| Feature | JUST (TRON) | Ethereum | Solana | Filecoin/IPFS |
|---|---|---|---|---|
| On-Chain Data | Yes (limited) | Yes (limited) | Yes (limited) | No (off-chain) |
| Large Files | ❌ No | ❌ No | ❌ No | ✅ Yes (IPFS) |
| Cost | Low (TRX) | High (ETH) | Low (SOL) | Varies |
4. Best Practices for Storing Data on JUST
- Use Off-Chain Storage (IPFS, Arweave) + store hashes on-chain.
- Optimize Smart Contract Storage (avoid bloating with unnecessary data).
- Consider Gas Costs (large data storage can be expensive).
Conclusion
JUST supports on-chain data storage but is not optimized for large-scale file storage. For big data, use IPFS + JUST smart contracts to store references. For small data, smart contract storage works fine.
Would you like help with a specific use case? 🚀
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