Crypto exchange Phemex will add JUST DAO (JST) to its spot trading offerings on April 29th, the exchange announced on Friday.
The trading platform will list JST in several trading pairs, including JST/USDT, JST/BTC, and JST/ETH.
According to the exchange, JUST is a decentralized finance (DeFi) ecosystem on the TRON blockchain, launched in August 2020. It is a suite of DeFi products, mainly focused on JustStable, a decentralized stablecoin lending platform. The goal of the ecosystem is to provide a wide range of DeFi services, aiming to build a complete DeFi ecosystem on TRON.
Among the products in JUST’s platform are JustStable, JustLend, JustSwap, JustLink, and tokenized cross-chain assets. Users can deposit various collateral tokens, such as TRON (TRX), to mint USDJ, a stablecoin that is pegged to the U.S. dollar. This process is used to create a collateralized debt position (CDP). JustLend is used for liquidity provision and low-interest loans, JustSwap is a platform for trustless token swaps, and JustLink provides decentralized oracle services.
The native governance token of the JUST ecosystem, JST has been circulating since May 2020. The token is used for multiple purposes on the platform, including paying interest to users, maintaining the platform, and voting on critical governance decisions. These decisions include setting essential parameters like interest rates and the minimum collateralization ratio. JST plays a crucial role in the operation and governance of the JUST ecosystem.
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