JUST Protocol is a prominent decentralized finance (DeFi) platform created on the TRON blockchain. It is a whole set of products that are mostly based around a decentralized stablecoin lending platform called JustStable.
It is a two-token ecosystem made up of the USDJ and JUST (JST) tokens. USDJ is a multi-collateral stablecoin whose value is tied to the value of the US dollar (USD). JST, on the other hand, has a number of uses on the platform, including paying interest, helping to maintain the platform, and taking part in its governance by helping to set variables like interest rates (stability fees) and the minimum collateralization ratio.
The JUST Foundation manages the JUST ecosystem, which is composed of individuals from Alibaba, Tencent, IBM, and "other world-class internet businesses," while JUST's financial research team is composed of professionals from "many global investment banks," according to the project website.
The most well-known people in this field include Terance F (a blockchain expert and former employee of Barclays and IBM), Elvis Zhang (a senior developer and accomplished blockchain researcher), C Wu (an expert in wallets and exchanges), and GL Kong (an experienced blockchain engineer and early crypto adopter).
A lot of the JUST team members' full names and profiles are not available to the public. However, it looks like the project has some overlap with the TRON development team, given the platform was introduced by TRON CEO and creator Justin Sun and has obtained technical and financial backing from TRON.
The main problem that Just aims to solve is the fact that users have to switch projects to use different DeFi features. It intends to eliminate this necessity by delivering its own solution, which involves bringing all TRON DeFi users on a single platform by creating a diverse DeFi product ecosystem.
JustStable: JUST's main decentralized, multi-collateral stablecoin platform.
JustLend: A money market protocol powered by TRON that lets users add money to lending pools and borrow cryptocurrency at low-interest rates.
JustSwap: An automated market maker (AMM) platform that allows trustless swaps of TRC-20 tokens and the formation of permissionless liquidity pools.
JustLink: The first decentralized oracle system for the TRON network. It is used to safely send real-world data to smart contracts.
Cross-chain tokens: Assets from other blockchains, such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), which have been tokenized on TRON and are usable within the JUST ecosystem.
Since JUST is a fork of TRON, it depends significantly on the network to do its necessary tasks and keep its data safe. As JST is a TRON-20 token, the JUST platform secures and maintains the blockchain using a delegated proof of stake (DPoS) consensus. This is a structure in which nodes that validate blocks of data to be added to the blockchain are chosen based on the size of their stakes, not on how well they can solve hash puzzles. This system is considered more sustainable than proof-of-work blockchains because it uses much less energy.
The use cases of Just token are:
One can take part in system administration by owning JST. It is performed through voting on network proposals
Use of TRON's decentralized ecosystem and dApps
CDP interest can be paid using JST
DATE NEWS/EVENTS IMPACT 19/08/2020 Justin Sun stops the Just (JST) airdrop -28% Decrease 10/08/2020 Binance will list Just +65% Increase
With its wide range of products and quest to make DeFi more accessible to the public, JUST is likely to see more people using it as it works to make DeFi limitless and free for everyone. JUST's future looks promising as long as its parent network, TRON, continues to perform well. As for investors, they can not only observe the network's development, but also actively participate in it.
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