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HomeCrypto BasicsWhat is Just (JST) Token?

What is Just (JST) Token?

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JST is a TRC-20 token issued by the JUST platform, a decentralized finance (DeFi) platform built on the TRON blockchain, which allows users to borrow and lend cryptocurrencies in a decentralized and trustless manner. The JST token is used to facilitate the functioning of the JUST platform and is used to pay transaction fees and other expenses on the platform. In addition, JST token holders can vote on important decisions regarding the platform, such as stability fees and collateralization ratios, giving them a degree of control over the direction and governance of the platform.

Just (JST) Features and Updates

Here are some of the features of Just (JST) token:

JustStable (USDJ): This decentralized stablecoin system built on the JUST network allows users to collateralize JST tokens to mint stablecoins that are pegged to the US dollar value. These stablecoins can be used for various financial transactions and are designed to maintain a stable value despite market fluctuations.

JustLend DAO: This is a decentralized lending and borrowing platform built on the JUST network that allows users to lend and borrow a variety of assets, including JST tokens, stablecoins, and other cryptocurrencies. Users can lend their assets and earn interest or borrow assets and pay interest.

Just Crypto: This feature allows users to deposit JST tokens into a smart contract and earn interest on their deposit. It is similar to a savings account but is decentralized and allows users to earn interest on their JST holdings without selling them.

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Who Are The Founders of Just (JST) Token?

Justin Sun, the founder of Just (JST) token, is also the founder and CEO of TRON, a decentralized blockchain platform for building and deploying decentralized applications. The JUST network is built on top of TRON’s blockchain, and JST is the native token of the JUST network. Justin Sun is known for his involvement in the blockchain and crypto industry and has also been the founder of other projects, such as the file-sharing platform BitTorrent.

What Makes Just (JST) Token Unique?

The JST token is unique in a few ways:

JST is the native token of the JUST network, a package of specialized smart contract-based financial products that run on the TRON blockchain. This means that JST is used as the primary currency for all transactions within the JUST network.

JST can be used to govern the JUST network, allowing token holders to vote on proposals for new features and improvements.

JST can be used for earning rewards through liquidity provision and staking, incentivizing token holders to participate in the network.

As a well-known blockchain and crypto sector figure, Justin Sun founded JST, which could be considered a unique advantage.

Read also: What is ICON (ICX)? How to Buy and Use It

How Many (JST) Are There in Circulation?

The Just (JST) token has a circulating supply of 8,902,080,000 JST coins and a max. supply of 9,900,000,000 JST coins. Its current CoinMarketCap ranking is #126, with a live market cap of $194,579,594. As of the time of writing, JST currently trades at $0.02158.

How is The (JST) Network Secured?

The JUST (JST) network is secured through a combination of mechanisms, including:

Decentralized architecture: The JUST network is built on the TRON blockchain, a decentralized, open-source platform that allows for the development and deployment of decentralized applications (dApps). Users hold and validate blockchain transactions, so no single entity controls the network.

Consensus mechanism: The JUST network uses the TRON’s consensus mechanism, which is a variant of the Delegated Proof of Stake (DPoS) algorithm. In this mechanism, token holders can vote for “super representatives” who are responsible for validating transactions and maintaining the network. This mechanism increases the network’s security by distributing the power to validate transactions among multiple nodes.

Smart contracts: The financial products and services offered by the JUST network are based on smart contracts, self-executing contracts with the terms of the agreement written directly into code. Smart contracts ensure that the terms of the agreement are automatically enforced, making the network more secure and transparent.

Auditing: The code of the JUST network and its smart contracts is open-source and can be audited by anyone. This allows the community to review and identify any potential vulnerabilities in the code, making the network more secure.

How Can Investors Use JST Token?

Investors can utilize the JST tokening in various ways, and it can be used by trading, staking, depositing, lending and borrowing, and collateralizing. 

Read: What is SwissBorg (CHSB)? Understanding SwissBorg

Where Can Investors Buy JST Token?

JST tokens can be purchased on various cryptocurrency exchanges. Here are some of the exchanges where JST can be bought include: 

Binance

Gate.io

Huobi

Poloniex

BitMax

FAQ

Does the JST token have a future?

Yes. 

Is JST token a good investment?

It’s worth noting that the value of JST token is affected by the demand and supply of the market, so the value may fluctuate over time. As with any investment, it’s essential to conduct thorough research and consider the potential risks before investing in JST or any other cryptocurrency.

Is JST token a good cryptocurrency?

It’s important to note that the value of a cryptocurrency can be highly volatile and can be affected by a wide range of factors, including market sentiment, regulatory changes, and overall economic conditions. However, it’s worth noting that the project’s success will depend on the adoption and usage of its products and services and how well it can compete with other similar projects in the market.

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