JUST Protocol (also known as JUST) was initially launched and deployed on the TRON network in 2020, making it the first decentralized finance (DeFi) ecosystem on the TRON network. The ecosystem revolves around the JustLend DAO Protocol (also known as JustLend DAO or JustLend), which integrates features such as yield farming, lending, energy rental, and token mining, driving the development of the TRON network's DeFi ecosystem and providing users with low barriers to entry, diverse DeFi services, and a high-quality user experience.
JustLend DAO is a decentralized governance protocol, where users can participate in governance using the platform token JUST (Symbol: JST) to make decisions about the development of JustLend DAO. As of February 2024, the platform has integrated multiple independent DeFi protocols and plans to incorporate more ecosystem protocols. By simplifying the user experience and providing core functionalities, TRON network DeFi can grow within a single application. The integrated protocols currently include:
- JustStable Coin (USDJ): A stablecoin minting protocol launched in April 2020, which was the first application protocol of JST.
- SBM (Supply and Borrow Market): A supply and borrow market protocol launched in December 2020.
- sTRX (Staked TRX): A high-efficiency and yield TRON network staking pool launched in April 2023.
- Energy Rental: A platform for flexible and low-cost energy rental on the TRON network launched in April 2023, significantly reducing transaction costs.
SBM - Supply and Borrow Market
SBM is a TRON-powered money market protocol designed to create fund pools with interest rates determined by an algorithm based on the supply and demand of TRON assets. The protocol involves two key roles: suppliers and borrowers, who directly engage with the protocol to earn or pay a floating interest rate. SBM serves as the core protocol of JustLend DAO.
Within SBM, each money market corresponds to a unique TRON asset, such as TRX, TRC20 stablecoins (e.g., USDT), or other TRC20-based tokens. The protocol features an open and transparent ledger that records all transactions and historical interest rates. To learn more about SBM and its functionalities, please explore further.
Staked TRX
TRX holders have the opportunity to receive the receipt token sTRX by staking TRX, allowing them to earn double yields from voting and Energy rental. In contrast to participating in Stake 2.0, sTRX offers higher returns and can be utilized in DeFi applications, including decentralized exchanges (DEXs). This token eliminates liquidity constraints associated with the unstaking period in Stake 2.0. To learn more about sTRX and its benefits, please explore further.
Energy Rental
An innovative protocol for flexible and cost-effective energy rental on the TRON network. The energy obtained through this protocol is significantly cheaper than that obtained through burning or staking TRX, enabling the cost of most transactions to be reduced to below 1 TRX. To learn more about this protocol and its benefits, please explore further.
JustStable Coin - USDJ
USDJ is a stablecoin native to the TRON network, generated through decentralized smart contracts. Users can stake TRX as collateral to create USDJ, which then circulates freely like any other cryptocurrency. USDJ is staked to the US dollar using Collateralized Debt Positions (CDPs) and features autonomous feedback mechanisms to maintain its stability. To learn more about USDJ and its functionalities, please explore further.
Governance
JustLend DAO implements public governance through smart contracts, allowing developers, protocol designers, ecosystem participants, and others to participate in governance using JST. Proposal codes and governance voting details are publicly available on the chain, and feedback and suggestions come from community members, with the ideas and voices of every DAO participant being valued. To learn more about this protocol and its benefits, please explore further.
Supply Mining
The latest round of JustLend DAO deposit supply mining started on February 16, 2024, and has already completed 36 rounds. The mining activity is community-driven and funded by the subDAO of JustLend DAO - GrantsDAO, which empowers community developers, contributors, participants, and any projects that contribute to the ecosystem, while providing positive incentives to ecosystem participants.
Buyback & Burn Plan
The JST ecosystem burn plan implemented by GrantsDAO aims to use protocol base income and donations from partner projects to provide liquidity to SunSwap V2 for JST trading pairs and burn the resulting liquidity tokens (e.g., SUNSWAP-JST-TRX V2 Token), thus accumulating JST liquidity in DEX. Compared to directly burning tokens, the ecosystem burn plan's approach reduces supply while maintaining liquidity in DEX, stabilizing the price of JST. To learn more about this protocol and its benefits, please explore further.
2024 JustLend DAO Roadmap
In 2024, JustLend DAO will iterate on protocol integration and essential security, promote a one-stop DeFi experience, focus on developers and collaborations, expand the use cases of the JST token in multiple protocols, and continue to empower the JST ecosystem and the TRON ecosystem. Additionally, the platform will enhance risk management, continually upgrade risk infrastructure, and risk mitigation strategies to ensure user asset security.
Q1 2024:
- Upgrade energy rental functionality
- Launch a GUI-based liquidation system
Q2 2024:
- Introduce account risk alerts and customized market alerts
- Upgrade oracle strategies to further prevent malicious market behavior
- Enhance user experience
Q3 2024:
- Upgrade energy rental protocol to support multiple tokens like JST and USDT
- Upgrade security protocols and risk strategies
Q4 2024:
- Integrate JustStable Protocol and optimize its experience
- Deploy on multiple chains to extend the ecosystem to more networks
- Integrate JUST ecosystem applications and onboard more excellent protocols
JustLend DAO will continue to drive the growth of the JUST ecosystem and the TRON ecosystem in 2024, providing more revenue models and DeFi applications to ecosystem participants, empowering JST and more ecosystem projects, and growing together with ecosystem participants.
JustLend DAO Protocol is a trusted and battle-tested protocol on the TRON network, with each step forward building on previous successful experiences and lessons learned, continually optimizing the user experience and managing risks. In this process, JustLend DAO will continue to push the boundaries of decentralized finance possibilities.