I just learned about JST and realized that it is a pretty interesting DeFi project on TRON. Many people still wonder what JST is, so today I will share some things I’ve learned.

JST is the governance token of the JUST platform, built on the TRC-20 standard. This project launched an IEO on Poloniex’s Launchbase in early 2020, although not everyone had the opportunity to buy at that time. However, its price after the IEO increased significantly, about 5 times the initial price. Currently, according to the latest data, JST is trading around $0.06.

But what is JST besides being a token? It also plays an important role in the ecosystem. Holders of JST can participate in voting and system governance, as well as earn profits from activities on the platform. Mainly, JST is used to pay interest and maintain the operation of the entire JUST platform.

The cool thing here is that JUST creates USDJ — a stablecoin pegged 1:1 to USD. Anyone can send TRX as collateral to mint USDJ, and this process is completely free. USDJ is backed by a large reserve, helping to maintain its price stability. This makes it an important part of the DeFi ecosystem on TRON.

I see the advantage of JUST is that it is very user-friendly. Transferring USDJ is fast, cheap, and almost fee-free thanks to the TRON network. Anyone anywhere can create an account for free. Additionally, security is ensured through blockchain-based smart contracts, and true decentralized governance is available for JST holders.

The team behind JUST is also quite strong. About 50% of the engineers come from leading tech companies like Alibaba, Tencent, IBM. The financial analysis team has experience from global investment banks, and the management team has a solid blockchain background.

Of course, JUST faces competition from other DeFi projects like MakerDAO, Constant. But with support from Poloniex and key industry figures, along with the booming DeFi trend, this project has growth potential. If you’re interested in DeFi on TRON, understanding what JST is and why it’s important are questions worth exploring further. You can track JST’s price directly on Gate or other exchanges to stay updated.