Even with the bear market, we still see an increasing number of new businesses in the decentralized finance space. The entire DeFi ecosystem is being adapted by developers and project development teams alike, and the reason for this is to take DeFi across the globe to every single person.
The TRON Network has just developed another network forming part of their complete DeFi ecosystem, JUST Network. 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 ecosystem is said to have the recipe for becoming a significant player in the crypto world. We will go over all of that later in the article.
Various subsections under the JUST Network 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.
In the world of decentralization, we live in today, companies come and go making it overwhelming to know which is worth watching—researching essential, precisely what we did in this article.
What Is The JUST Network?
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.
They have services like JustStable, JustLend, Just Crypto, JustSwap, JustLink, and cross-chain tokens.
Don’t worry if this sounds confusing; we will explain it in more detail later.
USDJ is the stablecoin paired with the U.S. 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 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 The JST Coins Purpose?
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 use USDJ and JST on the Just Network, the stronger the JST coin will become which will increase the coin's market cap. The USDJ will stay the same because it’s paired with the U.S. Dollar and thus follow the strength of the Dollar.
The Founders Of JUST
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, and IBM. The financial team at JUST comprises people from some major global investment banks.
Where To Buy JST?
You can purchase, trade, or store JST on any of the exchanges listed below:
Binance
Huobi Global
Upbit
Coinex
If you decide to keep your tokens on the exchange, you must remember that you’re 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.
It is said that there is a circulating supply of about 1.4 billion JST with a maximum supply of 9.9 billion. The total market cap for JST is $268,255,583.64, 7.50%, with a price prediction of $0.03012 as of writing this article.
Why Is JUST (JST) Unique?
What makes JUST different is they don't want 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 two 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.
Pros And Cons Of JUST (JST)
Pros:
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.
Because they form part of the TRON ecosystem, they have the backing of TRON’s robust security and assets.
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. Also, borrow stablecoins in no time using their system.
Cons:
JUST is finding it difficult to win over some crypto spectators because of its various products. Some believe that the company won’t fair well because of the lack of specialization.
Only TRON allows users to stake their coins to earn USD, where JUST isn’t allowing users that option.
The entire system can become quite confusing to someone just entering the crypto space, ultimately making them move to a system that is easier to understand.
Final Thoughts
Before we finish this article, we must get down to business quickly. If you’re wondering, is JUST a good investment? The answer is yes and no. The reason is that even though the publicity for the platform has been excellent.
You also have to remember that it’s ultimately part of the TRON ecosystem. You must diligently research what you’re looking for as an investment.
With all that said and done, JUST is trying to make DeFi more accessible to everyone, which will count in their favor because it will allow them to gain more exposure. The performance of TRON will affect the future of JUST; as long as TRON keeps growing, JUST will keep growing.
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