What is JUST (JST)?

Deep Dive

1. Core Functionality: USDJ Stablecoin System

JUST’s flagship product is JustStable, a decentralized platform where users deposit TRX (converted to PTRX) as collateral to mint USDJ. This process creates collateralized debt positions (CDPs), which must maintain a minimum collateral ratio to avoid liquidation. USDJ’s stability is managed algorithmically, with feedback mechanisms adjusting borrowing costs to keep its peg to the US dollar.

2. Governance and Tokenomics

The JST token serves dual purposes:
- Governance: Holders vote on protocol upgrades, stability fees, and risk parameters (e.g., liquidation ratios).
- Utility: JST is used to pay stability fees when redeeming collateral and is burned during buyback programs funded by ecosystem revenue.
Total supply is capped at 9.9 billion JST, with no further unlocks, creating scarcity as burns reduce circulation.

3. Ecosystem Synergy

JUST integrates with TRON’s broader DeFi infrastructure, including JustLend DAO (a lending protocol) and USDD (a decentralized stablecoin). Revenue from these products funds JST buybacks, linking its value directly to ecosystem growth.

Conclusion

JUST is a foundational DeFi protocol on TRON, combining stablecoin minting, community governance, and revenue-driven deflation. Its success hinges on balancing USDJ adoption with JST’s deflationary mechanics. How might evolving governance models further solidify JST’s role in TRON’s DeFi expansion?