TRON is currently working itself into the spotlight, which proves that it’s a very active chain. TRON has more activity than many people may know or think, where one part of the TRON ecosystem is Just Network (JST). They have been working on the background, almost on the sly. Once they were small, however, now they are getting bigger.
In other words, Just Network is one of the reasons that TRON is growing. There are more reasons, and a few we will also cover in this article. So, without further ado, let’s have a look at Just Network.
What Is Just Network?
Just Network sees itself as the next generation of DeFi on TRON. They develop various DeFi protocols, that are, of course, based on TRON. As a result, their goal is to bring a one-stop financial solution to you, the user.
Therefore, to give you an idea of how big Just is, let’s have a look at their TVL. For instance, the TRON ecosystem has according to DeFiLlama $4.6 billion TVL. The TVL of the Just Network is $1.04 billion. That’s practically 25% of all TVL on Tron. Just to put things in perspective and pardon the pun.
Source: Just Network
It’s important to say that Justin Sun is the founder of Just network and TRON. Also, TRON just released a new algorithmic stablecoin, the USDD. Check our article about this for more details.
Also, Just Network works around two tokens in its ecosystem, the USJ stablecoin, and the native JST token. The USDJ pegs to the USD and is multi-collateral. On the other hand, the platform uses JST for pretty much everything else. For example, for governance, platform maintenance, and pay interest.
Now, with the new USDD stablecoin, it may replace USDJ. That is, however, with a big ‘IF’. For that to happen, USDD needs to get traction first. So, for the time being, it’s up in the air and speculation on our side.
What Are the Unique Features of Just?
Just Network has a few features that make it unique. Let’s have a look at what they are:
- JustStable—A decentralized multi-collateral stablecoin protocol. You can borrow stablecoins here. This is the main platform of Just Network.
- JustLend—This is a money market platform. It allows you to add liquidity to liquidity pools. They are smart contracts based on TRON. Therefore, after adding liquidity, you can get loans with low-interest rates.
You can find more farming options on sun.io. The brand new USDD-TRX pool has a 60% to 72% APY. Many other interesting pools are available. APYs range from 10-12% to 28% or even 40%.
- Just Cryptos—This is a bridge between the TRON network and some premium cryptocurrencies. Think BTC, ETH, LTC, DOGE, and NFTs. You can store and swap these tokens on Poloniex.
Source: Just Cryptos
Moreover, Just Network had two more features. However, Justin renamed them. Instead of the Just Network, they are now part of the bigger Tron ecosystem.
- JustSwap is now known as SunSwap. It’s an AMM for trustless TRC-20 tokens. You can also create permissionless liquidity pools here.
- JustLink is now known as WINklink. It’s the oracle for the TRON ecosystem.
The Just Network started small. However, by now it’s fairly big, and it helps the TRON ecosystem grow. Just understand that the TRON ecosystem is not dead or obsolete. It is a very active ecosystem. For instance, it transfers lots of USDT. One reason is that the transfer price is low. You pay 1 USDT per transfer. Furthermore, the transactions are fast.
Also, bringing in USDD is an interesting move by Justin Sun. We’ll see what impact this will have on the TRON network. Most importantly, will it get traction at all? The stablecoin market is already rather busy. Nonetheless, hats off to Justin Sun, the main man behind all or most of the TRON ecosystem. He has been building quietly, but TRON is becoming a force to reckon with.
Get $125 for SIGNING UP with MEXC Exchange (FREE $25 in your MEXC wallet + 1-month ACCESS PRO membership worth $99). MEXC supports U.S. Traders in all trading pairs and services.
(To get your ALTCOIN BUZZ ACCESS PRO membership, DM us with your ‘newly signed up MEXC UID’ and ‘Telegram ID’ on our Twitter @altcoinbuzzio)
Moreover, for more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
Above all, find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access. Join us for $99 per month now.