The testnet of the TRON-based stablecoins lending platform successfully completed, platform official release: Djed strategically upgraded to JUST
Djed, the testnet of the TRON-based stablecoins lending platform completed its testings with promising results on all fronts. By staking TRX, over 120,000 USDJ have been generated through 481 operations with the overall collateralization ratio standing over 300%. Key metrics show great potential for robust and long-term growth. Therefore, under the official brand strategy, we decided to upgrade Djed to JUST and launch the mainnet at 10:30AM on April 4th (SGT), opening up a new chapter of TRON’s journey down to decentralized finance (DeFi). Its official website will also upgrade from djed.network to just.network.
We are also excited to announce that we’ve established a significant strategic partnership with a world-leading exchange. This partnership will serve as an impetus for JUST to grow into a top-class stablecoin lending platform worldwide. Details on our partnership will be revealed soon. Stay tuned!
JUST means “fair and just”. JUST Foundation aims to create a TRON-based stablecoins lending platform where everything is contract-based, any JST holders can participate in governing the USDJ currency system and achieve decentralized autonomy, where true justice and fairness can be guaranteed.
What is USDJ?
There are an abundance of premium assets in TRON’s network. However, a lot of them cannot be used as daily currencies due to their price volatility. USDJ is a token issued by TRON’s decentralized smart contract, and anyone can issue it by staking TRX. Once the USDJ tokens are issued, their exchange rate to USD will be maintained at 1:1 by CDP and automated feedback mechanisms, so that they can circulate freely like any other digital assets. USDJ stablecoin is a digital currency backed by assets staking, and its price keeps a fixed exchange rate to US dollars. We believe that USDJ will become an essential to TRON’s DeFi ecosystem.
What is JUST?
The platform token of JUST is called JST (a TRC20 token on TRON network). Its smart contract is https://tronscan.org/#/contract/TCFLL5dx5ZJdKnWuesXxi1VPwjLVmWZZy9. For the purpose of efficient risk management and control, USDJ stablecoin system has a well-rounded risk management architecture. On the one hand, all JST holders can select their main decision makers by voting and curbing actions containing systemic risks. On the other hand, JST holders can also vote by spending their JST and participating in the governance of the platform. For instance, they can modify sensitive parameters and Target Rate, select trusty Oracles, adjust or modify price feed sensitivity, select global settlers and adjust risk management parameters.
In which aspects is JUST doing better than most?
JUSTFoundation has a vigorous dream team. Half of the team members come from A-list tech companies such as Alibaba, Tencent, and IBM, and are veterans in product designing and development.
The financial analysis team at JUST also comes from several world-class investment banks. Seasoned blockchain marketing specialists constitute JUST’s marketing team. Meanwhile, JUST is a firm believer in the TRON ecosystem.
When asked about their choice of developing the project on TRON’s public chain, the representative of JUST Foundation stated “We did our fair share of homework when selecting our development platform. TRON network is backed by abundant resources and community power” :
1. Large scale. TRON has the third biggest user base for DApps, suggesting substantial user potential;
2. High pervasiveness: TRON’s TRX is now available on almost all mainstream cryptocurrency exchanges and has multiple TRC10/20 dedicated trading sections on them. TRX is now a widely accepted token of the cryptocurrency community;
3. Price stability. Since day one, the market cap of TRX has remained among the top 20 of all digital currencies;
4. User-friendliness: TRON network is open for everyone. Anyone can create their own digital currency wallets and successfully run their TRC20-USDT tokens. There’s no learning curve.
Our research shows that zero handling fees, speedy transfer and smooth traffic are investors’ top priorities when choosing a stablecoin. After all, congestion and “bank run” on decentralized financial platforms are the worst nightmare for both users and platforms, which is something we hope our users would never experience. Therefore, TRON public chain, on which the best-performed token TRC20-USDT ran in the last USDT congestion incident, became our first choice.
USDJ is issued through decentralized smart contracts on the TRON network by JUST foundation, a one-stop decentralized lending service platform. Each individual can stake their TRX to generate USDJ. Once the USDJ tokens are generated, their exchange rate to USD will be maintained at 1:1 by CDP and automated feedback mechanisms, so that they can circulate freely like any other digital assets. USDJ stablecoin is a digital currency backed by assets staking, and its price keeps a fixed exchange rate to US dollars. We believe that USDJ will become an essential to TRON’s DeFi ecosystem.
Justin Sun, founder of TRON & CEO of BitTorrent noted: JUST is the first DeFi project on TRON. I personally have high hopes for it and have provided including but not limited to technical, operational, and financial support to empower them during their journey. JUST is a vigorous and professional team who has great ambitions and demonstrates greater responsibility. I hope JUST will become more than just a DeFi project for the community members, but will also serve as an example to attract more DeFi developers to TRON. TRON Foundation is willing to support professional developing teams like them with no strings attached.
DeFi is a major application scenario of blockchain in the finance field. JUST, a disruptive force for DeFi, will join hands with TRON and open up a new chapter of decentralized finance.