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USDJ USDJ Price

$1.12

-0.02%

$1.12

24h Range

$1.13

Market Cap

$10,767,686.5

Fully Diluted Valuation

$10,767,686.5

24 Hour Trading Vol

$451,609.6

Circulating Supply

9,573,151.8

Total Supply

9,573,151.8

Max Supply

Info

USDJ Price Statistics

USDJ Price

$1.12

24h Range

$1.12 - $1.13

Percent Change 1h

-0.16%

Percent Change 24h

-0.02%

Percent Change 7d

-0.4%

All-time high

$0

All-time low

$0

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About USDJ

What is USDJ (USDJ)?

USDJ is a decentralized stablecoin built on the TRON blockchain, designed to maintain a 1:1 peg to the US Dollar (USD). Launched in 2020, USDJ operates through smart contracts, enabling users to generate and store value in a stable digital currency. It is primarily used within the TRON ecosystem, facilitating transactions and providing a stable medium for trading and storing assets. As of 2024, USDJ maintains its peg by being backed by TRC-20 assets deposited into the system, allowing users to mint USDJ against a collateralized position.

Who are the Founders of USDJ?

USDJ was developed by the team behind JustStable, which is part of the larger Just Foundation ecosystem. The founders of USDJ include key figures in the TRON community, such as Justin Sun, the founder of TRON, and other blockchain developers and entrepreneurs who aimed to create a stablecoin that could integrate seamlessly with TRON’s decentralized applications (dApps) and provide users with a reliable digital asset.

How does USDJ Work?

USDJ operates through a collateralized debt position (CDP) system. Users can lock TRC-20 tokens as collateral in smart contracts to mint USDJ. The process involves the following steps:

  • Collateral Deposit: Users deposit TRC-20 tokens into the USDJ smart contract as collateral.
  • Minting USDJ: Based on the collateral value, users can mint USDJ tokens. The system typically requires a collateralization ratio of at least 150%. For example, to mint 100 USDJ, a user would need to lock $150 worth of TRC-20 tokens.
  • Stability Mechanism: To maintain the USDJ's peg to the USD, the system uses liquidation mechanisms to manage the collateral. If the value of the collateral falls below a certain threshold, the collateral can be liquidated to ensure the stability of USDJ.
  • Redemption: Users can redeem their USDJ for collateral by burning their USDJ tokens, thus reclaiming their locked TRC-20 assets.

Top Use Cases of USDJ

  • Decentralized Finance (DeFi): USDJ is utilized in various DeFi applications on TRON, allowing users to lend, borrow, and earn interest on their holdings.
  • Trading and Hedging: Traders use USDJ to hedge against market volatility, providing a stable asset to trade against more volatile cryptocurrencies.
  • Remittances: USDJ can be used for cross-border transactions, offering a low-cost and fast alternative to traditional remittance services.
  • Payments: Several merchants accept USDJ as a payment method, benefiting from its stability and ease of use.
  • Yield Farming: Users can participate in yield farming opportunities by providing liquidity in USDJ pools on decentralized exchanges (DEXs).

How to Keep your USDJ Safe?

To ensure the safety of your USDJ tokens, consider the following best practices:

  • Use Hardware Wallets: Store your USDJ in hardware wallets such as Ledger or Trezor, which provide a secure offline storage option.
  • Enable Two-Factor Authentication (2FA): When using exchanges or wallets, always enable 2FA for an additional layer of security.
  • Be Wary of Phishing: Avoid clicking on suspicious links or entering your private keys on untrusted websites.
  • Regularly Update Software: Keep your wallets and devices updated to protect against vulnerabilities and exploits.
  • Use Reputable Exchanges: When trading USDJ, utilize well-established exchanges with a good security reputation.

How to Invest in USDJ (USDJ)?

Investing in USDJ (USDJ) or any other cryptocurrency involves several steps:

1Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.

2Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.

3Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.

4Buy USDJ: Once your account is funded, you can purchase USDJ directly from the exchange. Choose the desired amount and complete the transaction.

Investing in USDJ (USDJ) Using Botsfolio:

Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in USDJ using Botsfolio, follow these steps:

  • Create a Botsfolio Account: Sign up for a free account on the Botsfolio platform.
  • Create Portfolio: Select an investment type from available options such as Premade crypto portfolios OR Custom crypto portfolio.
  • Connect Your Exchange: Link your chosen cryptocurrency exchange account to Botsfolio through fast connect or API key to enable seamless investing.

Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.

What is the Price Prediction for USDJ (USDJ) in the Long Term?

USDJ (USDJ) is currently trading at $1.12 and exhibits good potential for future growth. Check the latest USDJ (USDJ) price prediction.

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