First Wave of JUST (JST) Tokens to Be Airdropped to Tron (TRX) Holders: Details

News
Tue, 05/19/2020 - 17:03
Vladislav Sopov

The JUST decentralized lending and stablecoin issuance platform launches the first wave of the JST tokens airdrop. Tron (TRX) holders are eligible for this distribution

Cover image via stock.adobe.com
Contents

JUST is a TRON-based decentralized platform for stablecoin lending. JST, its governance asset, allows users to vote on changes to JUST and to pay interest on their USDJ loans.

To prevent JST from inflation, tokens utilized for paying stability fees will be burned and removed from the circulating supply.

First wave of JST airdrop

JUST is starting its multi-year airdrop of JST tokens to Tron (TRX) holders. Airdrop will be organized in four stages that will last until 2022. As a result, a total of 10 percent of the total JST supply will be distributed to TRX holders.

The snapshot for the first wave will be taken at 00:00 UTC on May 20, 2020. Tron (TRX) addresses with at least 100 TRX (regardless of whether frozen or not) are eligible for this distribution. 

The first batch of 217,800,000 JST will be distributed to the addresses on the same day. However, delivery of the airdropped tokens may take up to 72 hours depending on the number of recipients, network load, and other factors.

The next wave of the airdrop will start on June 20, 2020. During the second wave, 237,600,000 JST or 2.4 percent of the total supply will be distributed over 12 months.

Decentralized TRON-based lending protocol

With JUST, the users can obtain loans in USDJ, USD-pegged TRC20 stablecoins by putting up TRX tokens as collateral to form a collateralized debt position (CDP) with the JUST smart contract.

Governance of the platform is undertaken by JUST (JST) token holders, who select price oracles, customize risk management parameters, and set the target rate to protect the network.

The JUST Foundation team on-boarded heavily experienced individuals who had worked for Alibaba and Tencent.

The aim of the JUST Foundation is to maximize the potential of JUST and deliver the first TRON-based DeFi project to a wide user base.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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