JUST JST Price

What is JUST (JST)?

JUST (JST) is a decentralized finance (DeFi) platform built on the TRON blockchain, designed to support a suite of financial services, including stablecoin issuance, lending, and governance. The platform's native token, JST, is primarily used for governance, allowing holders to vote on protocol changes and decisions. As of early 2024, JST has gained traction for its role in enabling users to create and manage stablecoins, specifically the JustStable USDJ, which is pegged to the US dollar and backed by collateralized assets.

Who are the Founders of JUST?

JUST was founded by a team of blockchain enthusiasts and developers, with prominent figures including Sun Yuchen (commonly known as Justin Sun), the founder of TRON. Justin Sun is a well-known figure in the cryptocurrency space, having previously served as the CEO of TRON and being involved in various blockchain initiatives. The founding team also includes other blockchain experts who aim to create a robust DeFi ecosystem on the TRON platform.

How does JUST Work?

JUST operates primarily on a smart contract framework on the TRON blockchain. The platform allows users to create stablecoins (USDJ) by depositing TRX or other TRC-20 tokens as collateral. The process is governed by a series of smart contracts that ensure the stability and security of the collateralized assets. Users can borrow USDJ against their collateral and must maintain a certain collateralization ratio to avoid liquidation. Additionally, JST token holders can participate in governance decisions, influencing the future direction of the platform through voting mechanisms.

Top Use Cases of JUST

• Stablecoin Issuance: Users can issue USDJ, a stablecoin pegged to the US dollar, which can be utilized for trading, payments, or as collateral in other DeFi protocols.
• Lending and Borrowing: Users can lend their assets for interest or borrow against their collateral, creating liquidity within the ecosystem.
• Governance Participation: JST token holders can vote on key protocol changes, ensuring that the community has a say in the platform's development.
• Yield Farming: Users can stake their JST tokens to earn rewards, promoting liquidity and incentivizing participation in the ecosystem.

How to Keep your JUST Safe?

To keep your JST and other assets safe, consider the following best practices:

• Use Hardware Wallets: Store your JST tokens in hardware wallets such as Ledger or Trezor for enhanced security against hacks and malware.
• Enable Two-Factor Authentication (2FA): Always enable 2FA on your exchange accounts and wallets to add an additional layer of security.
• Beware of Phishing Scams: Always verify URLs and avoid clicking on suspicious links to protect your private keys and wallet information.
• Regularly Update Software: Keep your wallet and any related software updated to protect against vulnerabilities.
• Diversify Storage: Avoid keeping all your assets in one location. Consider using multiple wallets and exchanges for added security.