Current Value of JUST and JST Tokens
Understanding the JUST Ecosystem
The JUST platform has emerged as a noteworthy decentralized finance (DeFi) ecosystem, leveraging the capabilities of the TRON blockchain. This comprehensive suite of financial products centers on JustStable, a decentralized stablecoin lending service. Following its initial exchange offering (IEO) on the Poloniex LaunchBase platform, JUST was officially launched in August 2020. However, the platform’s native governance token, JST, has been available since May of that year.
The Dual Token System: USDJ and JST
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At the core of the JUST ecosystem are two pivotal tokens: USDJ and JUST (JST). USDJ is a stablecoin with a value pegged to the US dollar (USD), ensuring stability and reliability for users. JST, meanwhile, serves multiple roles within the ecosystem. It is used for paying interest, maintaining the platform, and engaging in governance activities, such as determining parameters like interest rates (stability fees) and minimum collateralization ratios.
How to Obtain USDJ on the JUST Platform
Acquiring USDJ on the JUST platform involves securing collateral in the form of supported tokens. For instance, users can collateralize TRON (TRX) tokens, which are then converted into PTRX tokens and locked as collateral, creating a Collateralized Debt Position (CDP). Based on the amount of collateral provided, users can mint and withdraw USDJ. To regain their original collateral, users must repay the borrowed USDJ.
Stay Informed with CoinGabbar
For those interested in the future prospects of the JUST platform and its tokens, downloading the CoinGabbar app offers valuable insights and predictions. Stay updated with the latest trends and price analysis to make informed decisions in the cryptocurrency market.
Also explore: Learn about the Jupiter Project and JUP price in USD.
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