DeFi or decentralized finance is becoming increasingly popular in the crypto space, especially on the Ethereum (ETH) blockchain. Over 3 million ETH were being locked up in DeFi DApps (decentralized applications) in January this year which broke the record high.
Tron, a popular decentralized blockchain protocol, has also joined in on the DeFi action with the launch of JUST. The Tron blockchain had seen lots of activity on gambling Dapps with WiNk and 888TRON leading the charge. This is set to change as JUST Foundation is here to stay.
JUST Foundation newly launched its decentralized lending and stablecoin issuance platform. Its first token was the stablecoin USDJ usable as collateral with TRX tokens of TRON. The introduction of the governance token JST is to enable holders to run the platform and select price Oracles. They will also vote on changes to the JUST Network and oversee risk management on the platform.
Moreover, JST holders can utilize the tokens to pay interest on USDJ loans. And whenever there is a payment of stability fees using JST, it will trigger a token burn thus reducing the supply of JST over time.
On May 20, the first wave of the airdrop started with a snapshot taken at 00:00 UTC. It kickstarted with the distribution of 217,800,000 JST to eligible addresses in 72 hours. One of the criteria of eligibility for the airdrop is users need to hold a minimum of 100 TRX in their TRON addresses.
As one of the biggest planned airdrops, such snapshots will continue for the next 2.5 years on the 20th of every month at precisely 0.00 UTC. Some of the wallets and exchanges that support this airdrop are Poloniex, KuCoin, Bitpie, Atomic Wallet, etc. JST will also be available on Bitpie, MXC, with more exchanges listing the token soon.
- 237,600,000 JST (2.4% of the total supply) distribution over 12 months. From June 20, 2020, to May 20, 2021.
- 257,400,000 JST (2.6% of the total supply) distribution over 12 months. From June 20, 2021, to May 20, 2022.
- 277,200,000 JST (2.8% of the total supply) distribution over 5 months. From June 20, 2022, to October 20, 2022.
JUST Network is a decentralized lending protocol launched by the JUST Foundation on TRON blockchain. The platform’s goal is to provide a fair, community-governed stablecoin lending platform with smart-contract enforced security.
JUST Network has a very experienced team of people focusing on maximizing the potential of JST tokens and bringing this first TRON DeFi project to the masses.
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