Everything to Know About Just Network (JST)

Decentralized Finance has experienced extensive growth over the past few years. The developers and project development teams are widely using this landscape as a foundation for creation. The DeFi platforms trading and several other earning opportunities for investors who want to make money through crypto.

Just Network is one of the leading networks in this category that provides a range of opportunities for developers and investors alike.

What is Just Network?

JUST is a decentralized network built on the Tron blockchain. The founder of Tron, Justin Sun, introduced this platform in the third quarter of 2020. The first four letters of Justin’s name were chosen to name this platform. Justin introduced this platform to accommodate the rising demand for decentralized finance.

This platform offers a range of solutions like JustStable, JustLink, JustSwap, JustLend, and Cross-chain tokens. The platform has its own decentralized stablecoin system that accepts multiple collaterals. This system is powered by the USDJ stablecoin.

What Makes Just Network Unique?

A Wide Range of Products

As it’s discussed earlier, Just offers a range of unique products including JustSwap, JustStable, and more. Thus, it can serve a huge number of users from different segments including traders, investors, DApp developers, and more.

Two-token System

Like a few blockchain networks, Just Network uses a two-token system to successfully run its operations. USDJ, the stablecoin, is the main token that runs most of the operations without Just ecosystem. JST is the governance token that controls the management of the platform.

Financial Solutions Offered by Just Network

JustSwap – JustSwap uses the swapping mechanism of decentralized exchanges to support the trading of TRC-20 tokens. The platform uses an automated market maker to determine the price of different crypto assets. Investors can use this facility to deposit funds in the liquidity pools if they want to earn interest.

JustStable – The users can borrow stablecoins from JustStable without having to sell their crypto holdings. The users need to deposit TRX tokens to get USDJ tokens in return. They can then use USDJ tokens to buy other cryptocurrencies. They can also retrieve their TRX tokens by returning USDJ tokens whenever they want. This protocol is primarily designed to ensure a massive amount of liquidity within the platform.

JustLink – The developers often need to fetch real-world data to create certain apps. The traditional blockchain networks do not offer this facility to avoid security breaches. JustLink uses a unique mechanism to fetch information from web 2.0 platforms and feed it to smart contracts after conversion.

JustLend – The users can take out low-interest crypto loans using this Tron-based smart contract. The platform offers a set of liquidity pools where users can deposit their tokens to take out loans.

Cross-chain Assets – The users can also use the tokens from other blockchain networks on Tron, thanks to the cross-chain assets feature. They just need to tokenize the external tokens on TRON to make them useful.

Pros and Cons of Just Network

Pros

Rapidly Growing Ecosystem – The value of the network is determined based on the DApps available on the network. There are hundreds of DApps already working on this network and the developers are introducing innovative solutions to bring more users. Just Network is dedicated to establishing its value as one of the fastest-growing DApp building platforms. Therefore, it supports DApps from different categories of business activities.

Smart Contract Functionality – Just Network uses smart contracts to simplify cumbersome and complicated activities so that more users can join the network. The smart contracts enable users to open an account within a few seconds. Furthermore, it provides smooth access to the multi-collateral stablecoin platform. Just Network uses an autonomous system to provide users with custody of the stablecoins.

Leverages the Security of Tron Network – Just Network is backed by Tron’s robust security and assets because it’s built on the Tron Network. Thus, the users can access the entire suite globally while enjoying the optimized security and credibility of the Tron blockchain.

Cons

Lack of Multichain Compatibility – Unlike its competitors, Just Network doesn’t offer enhanced interoperability. Thus, the users don’t have the option to earn rewards by staking their tokens. Therefore, most users are still reluctant to use this platform.

Lack of Specialization – Just isn’t the main project but a subsidiary of Tron. Therefore, the spectators think that it won’t get the attention required to grow the project. And it will ultimately suffer serious problems due to a lack of specialization.

How Does Just Network Work?

Just Network provides a suite of DeFi solutions under the same ecosystem so that the users don’t have to jump from one platform to another to achieve their desired goals. JustStable is the most important part of the project that enables users can deposit different crypto tokens as collateral to borrow the stablecoin.

The platform connects users to the leading blockchains with the help of Tron-bridge. Similarly, it offers a range of services for lenders, borrowers, traders, and developers alike. The platform transfers governance rights to the token holders through a governance DAO. The token holders can handle community complaints, propose network modifications, and participate in other activities that are essential for the network’s growth.

JST Tokenomics

JST is the native token of JUST Network that provides governance rights to the token holders. With a circulating supply of 8.9 billion tokens, JST has a market cap of $248.7 million. It has a total supply of 9.9 billion tokens that will be released over time. The JST token holders can stake their tokens to earn rewards. JST ranks among the 200 best cryptocurrencies in terms of market cap.

Conclusion

Just Network is a decentralized platform built on Tron blockchain designed to provide a suite of DeFi solutions in one place. Traders, lenders, borrowers, and developers can use this platform for their benefit. The platform has its own stablecoin that’s used to run certain operations.

If you need more information about how Just Network works, feel free to get in touch with us. We also invite you to subscribe to our weekly newsletter if you need regular updates about Bitcoin and the crypto market.