The decentralized finance (DeFi) concept first emerged in the crypto space a few years ago. However, it was in 2020 that the trend gained significant traction as individuals sought opportunities to generate passive income with their cryptocurrencies.
As a result, numerous protocols were introduced on different blockchains, including the TRON network. JUST (JST) is a project developed explicitly for the TRON blockchain, aiming to contribute to the growing DeFi ecosystem.
What is JUST
JUST is a blockchain-based DeFi network that aims to be a comprehensive solution for all TRON network solutions. With a stablecoin ecosystem as its foundation, JUST is dedicated to offering a wide range of DeFi services. The project's primary focus is establishing connectivity among various DeFi projects within the TRON ecosystem.
The team recognizes the presence of diverse protocols on the network, each providing unique services but lacking an integrated solution with key features. To address this, JUST is building a decentralized and resilient ecosystem encompassing various DeFi-driven products.
The JUST team
The JUST team is led by the JUST Foundation, consisting of individuals from renowned companies like Alibaba, Tencent, and IBM. Notable team members include Terance F, a former employee of Barclays and IBM, Elvis Zhang, an experienced blockchain researcher, and GL Kong, a seasoned blockchain engineer. The team comprises talented developers from leading tech companies, financial analysts, and trading experts with extensive industry experience.
How does JUST work
JUST allows users to lend a portion of their JustStable holdings to earn interest. It utilizes a TRON bridge to connect with other blockchains and relies on the network for security and functionality.
JUST employs the Delegated Proof of Stake (DPoS) algorithm to ensure network security. This algorithm selects nodes with significant stakes to add new blocks to the blockchain based on their dedication to the network. The DPoS mechanism enhances security and promotes environmental sustainability, unlike the energy-intensive Proof of Work (PoW) algorithm.
In essence, JUST operates on a two-token system, which includes a governance token for participating in decision-making processes and a token that powers the network's operations.
JST: JUST's native token
JST serves as the governance token for the project, empowering the decentralized app (DApp), decentralized autonomous organization (DAO), and the overall ecosystem. Holders of JST have voting rights and can actively participate in shaping the project's future. They can submit proposals for consideration and engage in community voting.
Additionally, JST acts as an incentive token. Network users can earn rewards through mining, trading, active campaign participation, and other activities. JST can also be traded on centralized exchanges (CEXs).
JST tokenomics
The JUST network has set a maximum supply of 9.9 billion tokens, with the circulating supply currently at 8.9 billion tokens. JST serves a dual purpose within the network, acting as both a governance token and a reward mechanism.
JST use cases
JST, the native token of the JUST network, serves several prominent use cases for its holders. Firstly, JST functions as a governance token, enabling users to actively participate and have a voice in the project's decision-making processes.
In addition, JST serves as a reward token for network users. Through mining activities, users can earn JST tokens as a reward for their contributions to the network. This incentivizes active participation and encourages users to engage with the platform.
Furthermore, JST tokens are freely tradable, providing holders with the flexibility to trade their tokens on various platforms. This liquidity allows users to freely buy, sell, or exchange JST tokens per their preferences and needs.
JST distribution
The distribution of JST tokens is as follows:
- Thirty percent is allocated to the ecosystem, supporting its growth and development.
- Twenty-six percent is designated for strategic partnerships.
- Nineteen percent was assigned to the team, incentivizing their dedication and contribution to the project.
- Eleven percent is distributed through a seed sale.
- Ten percent is assigned to TRX holders, allowing them to participate in the JST ecosystem.
- Four percent is reserved for LaunchBase allocation.
What does the future hold for JUST
The future of JUST looks promising as the team is dedicated to continuously improving and expanding its offerings on the TRON network. With their existing suite of products, including JustStable, JustLend, JustSwap, JustLink, and Cross chain tokens, JUST has already established a solid foundation in the DeFi space. However, the team's ambitions continue, as they plan to integrate new technologies and introduce additional products to enhance their platform further.
