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JST
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JUST
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The price JUST today is 0.070109 USD, and the trading volume in 24 hours - 90,481,273 USD. The crypto asset has grown by -15.33% over the day. Currently, the coin’s market capitalization is 158,469,245 USD, and has 2,260,326,706 coins in circulation with the max supply of 9,651,217 coins JST.

What is JUST (JST)?

JUST is a popular new decentralized finance (DeFi) ecosystem built for the TRON blockchain. This is a whole set of products that mainly focus on a decentralized stablecoin lending platform known as JustStable.

The platform was launched in August 2020, following an initial exchange Offering (IEO) on the Poloniex LaunchBase platform, but the platform's own management token (JST), circulating since May 2020.

It is a two-token ecosystem built on the USDJ and JUST (JST) tokens. USDJ is a stablecoin with a lot of collateral, the value of which is tied to the value of the US dollar (USD), while JST has many functions on the platform: interest payment, assistance in maintaining the platform and participating in its management, assistance in setting parameters such as interest rates (stability fee) and the minimum collateral ratio.

The platform is designed to provide a fair and limitless center of DeFi products that any TRON user can access.

Who are the founders of the JUST?

The JUST ecosystem is managed by the JUST Foundation, which includes representatives from Alibaba, Tencent, IBM and other world-class Internet companies, while the JUST financial analysis team comes from several global investment banks, according to the project's website.

Among the most famous personalities are Terance F (a blockchain expert and former employee of Barclays and IBM), Elvis Zhang (a senior developer and experienced blockchain researcher), Xi Wu (a specialist in wallets and exchanges) and GL Kong (an experienced blockchain engineer and one of the first adherents of cryptography).

The full names and profiles of most of the JUST team were not disclosed. However, it seems that the project partly echoes the TRON development team, as the platform was announced by TRON CEO and founder Justin Sun and received technical and financial support from TRON.

What makes JUST unique?

Unlike most other DeFi platforms, JUST doesn't just aim to offer a single product that offers utility to a small group of DeFi users. Instead, it tries to create a complete set of products covering a range of DeFi use cases, forming the basis of a complete DeFi ecosystem on TRON.

As of February 2021, the JUST ecosystem consists of five separate products, each designed to interact and provide additional services to users.

How many JST coins are in circulation?

As of February 2021, there is a total of 2.26 billion JST in circulation out of a maximum supply of 9.9 billion. This is 23% of the maximum offer.

These tokens are earned by depositing, lending, and providing liquidity on the JUST network, or by performing several other actions, such as participating in special campaigns.

How is the JUST network protected?

As a TRC-20 token, the JUST network is protected by the underlying TRON blockchain.

Unlike other platforms that use an energy-intensive Proof-of-Work (POW) consensus mechanism to maintain the integrity of the blockchain and prevent potential attacks, TRON uses an energy-efficient Delegated Proof-of-Stake (DPoS) system.

This means that TRON token holders (TRX) choose super-representatives who are tasked with generating blocks and packaging transactions. Together, 27 super representatives are responsible for network security.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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